Demar Women's Boots 25806 Blue Dark Blue ciproant-25807 Blue B06XD1TDML Parent d62e50b -

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.”

Demar Women's Boots 25806 Blue Dark Blue ciproant-25807 Blue B06XD1TDML Parent d62e50b

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 *

Michael Antonio Women's Fremont Ankle Bootie B071YPTG8D Parent , BareTraps Women's Bt Nyomi Ankle Bootie, Cognac, 7 US/7 M US B071YTF2LF Parent , XOXO Womens TRISHH2 Closed Toe Knee High Fashion Boots B071YYSN3L Parent , Men's/Women's J.K.ACID Women’s Low Trainers B071Z74NV8 Parent Complete specification Medium cost various kinds , Ultimate Collection NOVA CHAMIS BLANCO AM 89035 Spain SIZE EU 41 RRP £ 85.00 B071ZSPBWX Parent , Womens Quality Black Leather Zip Up Ankle Boots - UK 8 (EU 41) B071ZSQG44 ParentJack Rogers Women’s Sallie Print Rainboot Rain Boot B0721C59MH ParentReport Women’s Poet Ankle Boot B0721PXGXR ParentTom Tailor 3795612, Women’s Biker Boots B0721Y7L6B Parent , CFP YSE-769-1YP Womens Metropolitan Chic Collar Elegant Office Party Pumps Cozy Trend Pointy Toe Sturdy Stiletto... B07226MCM3 ParentBrinley Co Women's Avita Ankle Boot B0723HCYWW Parent , Fritzi aus Preussen Women’s Bentja Knitted Fur Hatching Boots B0727PWR3B Parent , CFP YSE-769-1YG Womens Metropolitan Cozy Trend Back Zipper Narrow Mouth Pointy Toe Trendy Fashion Delicate Sturdy... B072287ST9 ParentMs Keep warm Plus cashmere Rain boots B072HG6TJQ Parent , CFP YSE-769-1RB Womens Metropolitan Chic Collar Elegant Office Party Pumps Cozy Trend Back Zipper Narrow Mouth... B07227FGPC ParentLilley Womens Black Knee High Boot with Zip Detail B072BV7TB5 Parent , SendIt4Me Suedette Platform High Heel Wedge Ankle Boots B0722MSJ4P Parent , Summer Adult Transparent Rain boots Non-slip Waterproof Rain boots B072L232MB Parent , Fashion leopard high tube rain boots B07253DKKQ ParentMan/Woman Report womens Marcel B072BWQZW1 Parent We have won praise from our customers. Reliable performance Great choiceGentlemen/Ladies Ital-Design Women’s Slippers B072C2GLRP Parent Modern technology First grade in its class Very practical , Easy Street Women's Questa Ankle Bootie B072M25T69 ParentQuality Womens Coffee Brown Velvet LeatherFur Lined Chelsea Boots - Size UK 5 (EU 38) B0725XHJB2 Parent , Fashion solid color girl rain boots B072L23MZH ParentAutumn and winter ladies Korean dots rain boots B072B8ZD7V ParentGentleman/Lady Volatile Womens Denise B0722QL6JW Parent New market Highly praised and appreciated by the consumer audience Rich on-time delivery , Casual women's U-type rain boots B072HG6SLR ParentBeck Women’s Lady Slouch Boots, Black B072FJYHZ6 ParentStylish breathable non-slip women's rain boots B0727P4L9N Parent

Time limit is exhausted. Please reload CAPTCHA.

Demar Women's Boots 25806 Blue Dark Blue ciproant-25807 Blue B06XD1TDML Parent d62e50b -