NIKE Women’s Women’s WMNS Revolution Revolution Parent 4 Fitness Shoes Parent B07CY27SYN f3decd8 -

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.”

NIKE Women’s Women’s WMNS Revolution Revolution Parent 4 Fitness Shoes Parent B07CY27SYN f3decd8

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 *

SWDZM Women Dance Shoes/Standard Latin/Ballroom Model-XGG Parent B07FVSXTX2Nine West Women's Palaura Leather Dress Sandal Parent B071D481C1 , LIU-JO GIRL L3A4 00174 Gold and Silver Sneakers Women's Shoes Girl Footwear Casual Parent B07H1F7QM2Hogan Women's HXW2830U352IJJ0QAL Beige Suede Sneakers Parent B079QNX8RVColoranimal Women Men Road Running Sneakers Lightweight Comfortable Tennis Flats Parent B07GZ1J55M , RTRY Women's Shoes PU Fall Combat Boots Boots Block Heel Square Toe Booties/Ankle Boots Buckle For Casual Army... Parent B076CGY4ZM , Vans Era 59, Unisex-Adults' Low-Top Trainers Parent B071CF1XPL , adidas Originals Women's Superstar W, SILVMT,FTWWHT, 7 Medium US Parent B06XC8NT4H , adidas Originals Women's Superstar Shoes Silvmt/Ftwwht, (7.5 M US) Parent B071LQM1QVliu jo Women's Trainers Gold Bronze Parent B075MCSHPLadidas Originals Women's Superstar W, SILVMT,FTWWHT, 10 Medium US Parent B072QMP9F1adidas Originals Women's Superstar W, SILVMT,FTWWHT, 11 Medium US Parent B072QMXZ91 , Asics Curreo, Women's Low-Top Sneakers Parent B0161CKWYYadidas Originals Women's Superstar Shoes Silvmt/Ftwwht, (6 M US) Parent B071LQM6K8 , F 12 P zapatilla PEOPLE 2007 36/41 Parent B01D4WYWO0KangaROOS Kangayard 3020 1174 A 0 690 100 Girls Indoor Parent B010ESY86O , Skechers Performance Go Sleek Glide Walking Shoe Parent B00DV1OPTWZHZNVX Women's Shoes Canvas Fall Comfort Sneakers Flat Heel Round Toe White/Black Parent B07H3M68SKU.S.POLO ASSN. Women’s Violet Trainers Parent B07D6VTSK4MGM-Joymod Women's Comfort Peep Toe Glitter Satin T-Strap Salsa Tango Samba Rumba Ballroom Latin Modern Dance... Parent B07FC8TPX1 , Etnies Women’s Scout Low-Top Sneakers, Black/White/Gum Parent B016R97RO4Nina Women's Garda Flip Flop Parent B06XSP6CLSSalomon Women’s X-Mission 3 W Trail Running Shoes Parent B073K13ZNY , BYLE Leather Sandals Ankle Strap Samba Modern Jazz Dance Shoes Summer Children's Latin Dance Shoes Soft Bottom... Parent B07FMG5S17Ariat Womens 10023035 Expert Safety Clog Static Dissipative Expert Safety Clog Composite Toe Parent B076MRGLFS , Puma 0363260 02 WMNS Star Natural White Cow Parent B01NAWV8ZI , Gold 2Star Shoes Women's Turquoise Blue,Green Leather Sneaker 37 Parent B074K8XMNNGold 2Star Shoes Women's Turquoise Blue,Green Leather Sneaker 38 Parent B074KF8S3JGold 2Star Shoes Women's Turquoise Blue,Green Leather Sneaker 40 Parent B074KJ3B2R

Time limit is exhausted. Please reload CAPTCHA.

NIKE Women’s Women’s WMNS Revolution Revolution Parent 4 Fitness Shoes Parent B07CY27SYN f3decd8 -