Van Parent Dal Hanover, Women’s Hanover, Closed-Toe Pumps B01DZXTHXY Closed-Toe Parent fda5366 -

Asia shares rally as Wall St bounce relieves
Visitors look at a stock quotation board at Tokyo Stock Exchange, October 11, 2018. — Reuters pic
Visitors look at a stock quotation board at Tokyo Stock Exchange, October 11, 2018. — Reuters pic

SYDNEY, Oct 17 — Asian got some much needed relief today after upbeat US earnings reports drove a rebound on and helped restore a little confidence in emerging market stocks and currencies.

Japan’s Nikkei leaped out of the gates with an early rise of 1.3 per cent, but still has a long way to go to recoup the past week’s losses.

MSCI’s broadest index of Asia- shares outside Japan added 0.5 per cent and South Korea 1.5 per cent.

had jumped more than 2 per cent yesterday in reaction to upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs.

“Analysts are looking at this reporting season in particular and the general data over the next couple of months for signs that the receding tailwinds of fiscal stimulus and the headwinds of tariffs are going to hit the US market simultaneously,” said Rakuten Securities Australia COO, Nick Twidale.

“On first viewing this doesn’t appear to be happening.”

On Wall Street, the three major indexes tallied their biggest one-day percentage gains since March. The Dow jumped 2.17 per cent, while the S&P 500 climbed 2.15 per cent and the Nasdaq 2.89 per cent.

Netflix Inc shot 12 per cent higher after the close as its results far outstripped market expectations with 7 million streaming customers added.

The blockbuster outcome sent shares of Alphabet Inc, Facebook Inc and Inc up about 1 per cent in extended trade.

The four make up the so-called FAANG group of high-growth companies that in recent months has lost some of its momentum following market-leading gains in recent years.

The US economic news was also robust, notably a sharp rise in job openings to a fresh all-time high.

My biggest threat

All this cheer favoured beaten-down currencies in emerging markets while taking some steam out of the safe-haven yen. The MSCI Emerging Market Currency Index rose for a third straight session.

The latest survey of global fund managers by BofA Merrill Lynch found they saw emerging market currencies as the most undervalued ever against the .

The dollar itself was up on the yen at 112.31 but flat on the euro at US$1.1578. Against a basket of currencies, the US dollar idled at 95.080 having touched a two-week trough overnight.

Not helping the US dollar was fresh criticism of the Federal Reserve from US President Donald Trump, who told Fox Business Network: “My biggest threat is the Fed.”

Van Parent Dal Hanover, Women’s Hanover, Closed-Toe Pumps B01DZXTHXY Closed-Toe Parent fda5366

Trump has recently castigated the for raising interest rates.

“While such name calling shouldn’t mean anything in terms of what the Fed actually does, it is a factor which somewhat undermines sentiment towards the dollar,” said Ray Attrill, head of FX strategy at NAB.

“It’s a contributory factor, albeit minor, to recent poor performance of the US dollar.”

In commodity markets, held near recent 11-week highs at US$1,225.64 (RM5,091.42).

Oil prices firmed as expectations of higher US shale output vied with the risk that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.

Saudi Arabia has been under pressure since prominent Saudi journalist Jamal Khashoggi disappeared after visiting the Saudi consulate in Istanbul.

US crude rose 35 cents to US$72.27, while crude climbed 33 cents to US$81.74 a barrel. — Reuters

Source: The Malay Mail Online

Post Views: 6

Leave a Reply Cancel Reply

Your email address will not be published. Required fields are marked as *

Tamaris Women’s 22471 Closed Toe Heels B0751L3B2Z Parent , Peter Kaiser Women’s Naja Closed Toe Heels, Black, 8 UK B076CKYDPH ParentLotus Hallmark Court Shoes, Party & Occasion ANTONIA Beige, Gold, Metallic B01BYGIAGY Parent , ara 11859-22 Pink Multi Reptile Print Court Shoe B0794ZDNBG ParentBuffalo Women’s 11335x-269 L Patent Leather Closed-Toe Pumps B076H2SC2X Parent , Andres Machado.AM242.Dress Satin Peep Toe Pumps topped with flower.Small, Medium and Large sizes.Size range: UK... B004ZXYUIG ParentLotus Women's Arlind Sling Back Heels, Beige (Natural/Gold Glitz), 7 UK 41 EU B073SZ18PJ ParentGeox Women’s D Floralie C Platform Heels B07669G9SF ParentCrocs Cap Toe Wedge, Women's Sandals B008M0W3C8 Parent , Gabor Women's 55200-87 Court Shoes B01FJ3CQP4 ParentGabor Women's 55.200.88 Court Shoes B01H28R0BY Parent , FANTASIA BOUTIQUE ® FLR365 Honor Diamante Satin Feel Pointed Toe Slip On Court Shoe Heel Clutch B01LX9RLYV Parent , SAPPHIRE BOUTIQUE FLR365 Honor Slip On Pointed Toe Satin Feel Diamante Court Shoe Heel Clutch B01M0UPYXU Parent , Clarks Womens Shoe Calla Rose Black B0793S2JDB ParentNine West Women’s Soho9x9 Open Toe Heels B071JC84WM Parent , Gabor Women’s Lavender Closed-Toe Pumps B00PB3KMF4 Parent , s.Oliver Women’s 22405 Closed-Toe Pumps B06VTHH66V ParentZBeiBei Womens Fashion Low Heels Pumps Satin Bow Slip On Wedding Party Shoes B07CJ36WJ3 ParentPeter Kaiser Women’s Anilia Open Toe Sandals B076CKXWBG Parent , Tamaris Women’s 22407 Closed Toe Ballet Flats, BAU (Navy Glam 864) B07DK8MDD7 Parent , Tamaris Women’s 24416-21 Ankle Strap Heels B07B4Y56WH Parent , Andres Machado.AM554BRIDAL.White Engraved Pumps with Stiletto Heel.Petite&Large Sizes: UK 0.5 to 2.5 / EU 32 to... B01M4LTAL4 Parent , Jana Women’s 22304 Closed-Toe Pumps B077G6DFPV ParentMERUMOTE Women's High Heels Platform Shoes Peep Toe Pumps Glegant Dress Wedding B07BSXFSPV ParentZAPROMA Women’s Zabstract Sexy Pointed Toe Stiletto Pumps Lady Dress High Heels Gradient Elegant Luxury Shoes B07DJ8LJL1 Parent , Irregular Choice Daisy DayZ, Women’s Mary Janes B00IJXBLRQ Parent , Yokono Women’s Gema Closed Toe Heels, Brown (Marrón 002), 3 UK B07FNG49N8 ParentHÖGL Women’s 5-10 4003 0900 Closed Toe Heels B077Y6B374 Parent , ECCO Women’s Shape 65 Open Toe Heels B074CVVM6F Parent

Time limit is exhausted. Please reload CAPTCHA.

Van Parent Dal Hanover, Women’s Hanover, Closed-Toe Pumps B01DZXTHXY Closed-Toe Parent fda5366 -