Grunland Parent 80SAXO CI1200 B01D280FS8 CI1200 Slipper Women B01D280FS8 Parent a205af5 -

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.”

Grunland Parent 80SAXO CI1200 B01D280FS8 CI1200 Slipper Women B01D280FS8 Parent a205af5

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 *

ESPRIT Olivia Flower 056EK1W013415 Womens Slipper B01ELA6KDU Parent , Gant Abby, Women’s Cold-Lined Slippers B01EN1NPJY Parent , Men's/Women's gizeh B01ERD9Z2E Parent We have won praise from our customers. Clearance International big nameLaruise Women's Platform Anti-slip Candy Colors Flat Leather Slipper B01F049ZEW ParentGiesswein Unisex Adults' Nehren Low-Top Slippers B01FA9P9LA ParentGiesswein Neuweiler, Women’s Low-Top Slippers B01FA9TT34 ParentMan/Woman KANNA slippers lady KV5040 B01FD02BZ8 Parent Fine workmanship Win the praise of customers Clearance sale , Ciabatta melluso Leather for women – LEAD WITH VELCRO B01FG4EYTC Parentara Women’s Cosy Open Back Slippers B01FMFO3T6 Parent , Men/Women Pinko Ematite Slipper Women B01FQ33G2Y Parent Special price Make full use of materials Clearance sale , Clarks Bella Women's Quilted Closed Back Slippers (10 B US, Black) B01FSZB9BU Parent , Clarks Bella Women's Quilted Closed Back Slippers (11 B US, Cinnamon) B01FSZB9CY ParentClarks Bella Women's Quilted Closed Back Slippers (11 B US, Black) B01FSZB9EM Parent , Clarks Bella Womens Quilted Closed Back Slippers (10 B US, Cinnamon) B01FSZB9G0 Parent100 PAIR WOMENS SUPERSOFT CORAL FLEECE WHITE HOTEL SLIPPERS WITH PINK PIPING SIZE 29CM B01FVHYMSW Parent , 100 PAIRS SUPER SOFT CORAL FLEECE UNISEX WHITE HOTEL SLIPPERS SIZE 29CM UK8/9 B01FZ4D5QQ ParentTamaris Women’s 27300 Open Back Slippers B01FZBGNGS ParentHAFLINGER Slipper Mein Herz Women's Slippers Pink 623316 0 34 B01GCBRC6U ParentLiving Kitzbühel Women’s Pantoffel APPL. Hase&Luftballon Low-Top Slippers B01GEHZSRM ParentLiving Kitzbühel Women’s Slip-on Mit Nietenkappe Low-Top Slippers B01GEHZSQ8 ParentHaflinger Unisex-Adult Everest Dahlia 483102-0-13 Slippers B01GFL5YG2 Parent , Living Kitzbühel Women’s Pantoffel Mit Weißen Filzrand Low-Top Slippers B01GEI077C ParentJust Sheepskin Ladies Short Classic Sheepskin Boots B01GFQD48C ParentJust Sheepskin Ladies Chapman Sheepskin Mittens B01GFQC7KI Parent , Just Sheepskin Childrens Classic Sheepskin Boots B01GFQGOPW Parent , Just Sheepskin Ladies Tall Classic Sheepskin Boots B01GFQFGOM Parent , Just Sheepskin Ladies Mini Classic Sheepskin Boots B01GFR1EFG ParentJust Sheepskin Ladies Devon Sheepskin Boots B01GFR0US8 Parent , IGI & CO woman ciabbatta 58370/00 B01GG72G48 Parent

Time limit is exhausted. Please reload CAPTCHA.

Grunland Parent 80SAXO CI1200 B01D280FS8 CI1200 Slipper Women B01D280FS8 Parent a205af5 -