Allhqfashion Women's Low-Heels 20136 Women's Round-Toe Soild Microfiber Parent Pumps-Shoes B07CTGB2SB Parent 0176e22 -

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.”

Allhqfashion Women's Low-Heels 20136 Women's Round-Toe Soild Microfiber Parent Pumps-Shoes B07CTGB2SB Parent 0176e22

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 *

Allhqfashion Women's Round Closed Toe High-Heels PU Solid Pull-On Pumps-Shoes B07CTJPSPZ ParentAllhqfashion Women's Pull-On High-Heels Solid Pointed-Toe Pumps-Shoes B07CTJPSQQ ParentOdomolor Women's Pu Soild Pull-On Round-Toe Low-Heels Court Shoes B07CTJY1XN ParentOdomolor Women's Kitten-Heels Frosted Solid Pull-On Closed-Toe Court Shoes B07CTJZNQK Parent , Odomolor Women's Solid Imitated Suede High-Heels Buckle Round-Toe Court Shoes B07CTK25LQ ParentOdomolor Women's Kitten-Heels Assorted Colors Pu Round-Toe Court Shoes B07CTK2N68 Parent , Allhqfashion Women's Solid Patent Leather Round Closed Toe Pull-On Pumps-Shoes B07CTK31DM Parent , Allhqfashion Women's Buckle Low-Heels PU Solid Round-Toe Pumps-Shoes B07CTK31FC Parent , Allhqfashion Women's Microfiber Low-Heels Studded Pumps-Shoes B07CTK31FJ ParentAllhqfashion Women's Round-Toe Buckle Patent Leather Kitten-Heels Pumps-Shoes B07CTK31FY Parent , Odomolor Women's Round-Toe Pull-On PU Solid Kitten-Heels Court Shoes B07CTK3YNM ParentOdomolor Women's Solid PU High-Heels Round Closed Toe Buckle Court Shoes B07CTK3YP6 ParentAllhqfashion Women's Low-Heels Solid Buckle PU Round Closed Toe Pumps-Shoes B07CTK517C Parent , Allhqfashion Women's Patent Leather Closed-Toe Kitten-Heels Solid Pumps-Shoes B07CTK518D ParentAllhqfashion Women's Blend Materials Solid Kitten-Heels Pumps-Shoes B07CTK518G ParentAgooLar Women's Buckle Closed-Toe Low-Heels Pu Soild Court Shoes B07CTK54KF Parent , AgooLar Women's Soft Material Pull-On Round-Toe Low-Heels Solid Court Shoes B07CTK553G Parent , AgooLar Women's Pointed Toe High-Heels Burst Crack Solid Pull-On Court Shoes B07CTK553V ParentAgooLar Women's Kitten-Heels Sequins Solid Pull-On Closed-Toe Court Shoes B07CTK9TVL Parent , Odomolor Women's Buckle PU Solid Low-Heels Court Shoes B07CTKBP85 ParentOdomolor Women's Kitten-Heels Round Closed Toe Assorted Color Court Shoes B07CTKGLJ5 Parent , Odomolor Women's Closed-Toe Low-Heels Frosted Solid Pull-On Court Shoes B07CTKGMK3 ParentOdomolor Women's Pu Soild Buckle Closed-Toe Low-Heels Court Shoes B07CTKGMK5 Parent , Odomolor Women's Pull-On Patent Leather Closed-Toe High-Heels Solid Court Shoes B07CTKGMK9 Parent , AgooLar Women's Blend Materials Solid Kitten-Heels Court Shoes B07CV9XC4Q Parent , AgooLar Women's Buckle Round Closed Toe Court Shoes B07CV9Z2Z7 ParentAgooLar Women's Closed-Toe Zipper Pu Solid Low-Heels Court Shoes B07CV9XC64 ParentAllhqfashion Women's Solid Soft Material Low-Heels Buckle Closed-Toe Court Shoes B07CVB4VC6 Parent , AgooLar Women's Soft Material Closed-Toe Kitten-Heels Pull-On Solid Court Shoes B07CVB725P Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Allhqfashion Women's Low-Heels 20136 Women's Round-Toe Soild Microfiber Parent Pumps-Shoes B07CTGB2SB Parent 0176e22 -