New Closed-Toe Look Women’'s 3856512 nhta-30296 Closed-Toe Pumps B01LQ75L9K 30298 Parent ff93bd8 -

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.”

New Closed-Toe Look Women’'s 3856512 nhta-30296 Closed-Toe Pumps B01LQ75L9K 30298 Parent ff93bd8

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 Solid Frosted Kitten-Heels Pull-On Square-Toe Pumps-Shoes B07CY63DRM ParentAN Womens Quilted Assorted Colors Dress Black Urethane Pumps Shoes DGU00509-4 UK B07GL2NN1S ParentY2Y Studio Women’s Court Shoes Beige Size: 2 B07G5XFTVY Parent , AN Womens Wedges Platform Urethane Pumps Shoes DIU01288 B07GCCX49S Parent , Vitalo Women's Mid Block Heel Ankle Strap Pumps with Bows Ladies Cute Lolita Court Shoes B07FLHDD96 Parent , 1TO9 Womens Solid Business Beaded Urethane Pumps Shoes MMS06125 B07GGQ168J ParentArtfaerie Women's High Heel Mary Janes Platform Court Shoes Cute Bows Pumps B07FFT57R5 Parent , SendIt4Me Nude Patent Platform Round Toe Block Heel Court Shoes B07GL1JBXN Parent , YE Women's Mary Jane Pumps Chunky Mid Heels with Strappy and Bow Court Shoes B07D77SJJ3 ParentMee Shoes Women's Sexy High Heel Block Heel Bow Platform Dress Shoes B06XSWLFGM Parent , AN Womens Quilted Assorted Colors Dress Black Urethane Pumps Shoes DGU00509-3.5 UK B07GKVXXCT ParentDolcis Tanya - Womens Black Faux Suede Floral Embroided Pointed Toe High Heel Evening Court Shoes B075DFQTC9 ParentAARZ LONDON Women Ladies Sparkly Evening Wedding Party Prom Bridal Courts Kitten Heel Slip On Sandals Shoes Size B071K23MKN ParentMee Shoes Women's Chic Slip On Block Heel Court Shoes B07917JPG3 ParentCarolbar Women's Elegant Fashion Platform High Heel Loafer Court Shoes B077ZTHT87 Parent , Estradà by Scarpe&Scarpe - Peep-Toe Pumps with Patent Detail B0794HGM1C ParentMichele X latest Fashion – 7952 Red PVC Triple Ankle Strap 4.5 inch stiletto heel Sandals (UK 10) B00JHKIIYO Parent , Lilley Womens Navy Faux Suede Sleeve Mule B07261DZHF ParentMr/Ms Jenny Granada, Women’s Pumps B01MDS6RWV Parent Good world reputation Pleasant appearance British temperamentMichael Antonio Women's Loveme-2 Pump, Black/Black B00CTLKCS8 ParentQupid Women's Zodiac-10X Platform Pump B00XR8VKUQ ParentBrinley Co Women’s Oria Pump B01HOQO2SI ParentBrinley Co Women’s Tais Pump B01HOQOPN0 Parent , ZIGI SOHO Women's Charisse Dress Pump B01I20NZ9M Parent , Indigo Rd. Women's Mindee Dress Pump B01M0E5HO0 ParentPenny Loves Kenny Women’s Main Pump, Wine B01M67V7MV Parent , Betsey Johnson Blue by Women's Sb-Cora Dress Pump B01MDKPZH5 Parent , Daya by Zendaya Women's Saint Dress Pump B01MDTMVAK Parent , Qupid Women's Signal-01 Dress Pump B01MEHNWPH Parent

Time limit is exhausted. Please reload CAPTCHA.

New Closed-Toe Look Women’'s 3856512 nhta-30296 Closed-Toe Pumps B01LQ75L9K 30298 Parent ff93bd8 -