COURTLEY & SONS Richelieu/Oxford Women’s 28.24.22FR Richelieu gamesworld-7987/Oxford B01F5PPTUU & Parent 65f5fc3 -

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.”

COURTLEY & SONS Richelieu/Oxford Women’s 28.24.22FR Richelieu gamesworld-7987/Oxford B01F5PPTUU & Parent 65f5fc3

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 *

Mr/Ms Eagle Sings Chelsea B01MG4YH8H Parent durable The highest quality material Strong heat and heat resistanceGentlemen/Ladies Frau 39m2 Sneakers Women B01MG55RRI Parent Rich design King of quantity Don't worry when shopping , Dino Derby BIGIONI - DBW14344 B01MG64FPI Parent , ara 12-34020 G Womens Sneakers B01MQVOGDO ParentRockport Womens/Ladies Total Motion Esha Evan Slip On Wedge Pump (5 UK) (Dark Granite) B01MQ1PFFI ParentSperry Women's Coil Ivy Water Canvas Pink 6 W (C) B01MG5FQLB ParentMarina Seval Scarpe&Scarpe - Booties With Padded Collar, In Leather B01MQD7ZY0 ParentPaul Green Women's 1230-208 Trainers B01MQRX8GM ParentSperry Top-Sider Women's 7 Seas Sport Boating Shoe B01MQW6C66 ParentPaul Green Women's 4128-329 Trainers B01MR1Y98F Parent , Pregunta IAL24769 001 Brogue Women B01MR29VVX Parent , ara Woman Loafers Fossil,ROS/ROS Fossil,ROS/ROS 12-34556-06 B01MRSF4C3 ParentTommy Hilfiger Women’s P1285aulina 2a1 Derby B01MRPZWSH Parent , Dino Derby BIGIONI - DBW14573 B01MG6529O Parent , Sperry Women's Fathom Sport Oat 6.5 M US B01MS2SV63 ParentPuma Women's Sky II Hi Explosive Sneaker B01MQSVZTG ParentWoman Loafers A407 070°stein grey, (A407 070°stein) 496005-A407 B01MSED4FJ Parent , Men's/Women's Pregunta CAMP.25 Underground Women B01MT5BZ7O Parent Aesthetic appearance Attractive fashion Modern mode , Man's/Woman's Pregunta IAL25520 Brogue Women B01MT5BZOZ Parent New market Good market VariousSperry Women's Quest Reel Mesh Sneakers, White, 10 B(M) US B01MT0X7UH ParentMarco Tozzi 23705, Women’s Brogues B01MSNN9IS ParentThink! Women’s Aida Ankle Strap Pumps B01MT902US Parent , Remonte Women flat Slipper blue, (navy/wine) D3809-14 B01MT9PPT1 Parent , Waldläufer Henni Größe 5.5, Farbe bunt B01MTCB42R Parent , Think Shua 80029-06 - , Yellow B01MT85M3U ParentBirkenstock Women's Arran Low-Top Sneakers B01MTSE689 Parent , Puma - Womens Sky Ii Hi Explosive Hightop Sneakers, UK: 7 UK, Gray Violet/Gray Violet B01MTXH6I0 ParentSperry Women's Seacoast Wool Dark Grey 6.5 M US B01MU2HV0M ParentMarco Tozzi 2-23705 Richelieu Women B01MU62PFJ Parent

Time limit is exhausted. Please reload CAPTCHA.

COURTLEY & SONS Richelieu/Oxford Women’s 28.24.22FR Richelieu gamesworld-7987/Oxford B01F5PPTUU & Parent 65f5fc3 -