AgooLar Women's Women's AgooLar Open Toe Spikes-Stilettos Solid Buckle Sandals Sandals B01HPJ49IW Parent f215bbb -

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.”

AgooLar Women's Women's AgooLar Open Toe Spikes-Stilettos Solid Buckle Sandals Sandals B01HPJ49IW Parent f215bbb

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 *

AgooLar Women's Solid Pu High Heels Open Toe Buckle Sandals B01HPY4ZYU ParentAgooLar Women's High Heels Solid Buckle Open Toe Sandals B01HPY5490 Parent , AgooLar Women's Buckle Spikes Stilettos Blend Materials Solid Peep Toe Sandals B01HPY627I ParentAgooLar Women's Open Toe Zipper Pu Solid Low Heels Sandals B01HPY6YRQ ParentAgooLar Women's Buckle Kitten Heels Frosted Solid Open Toe Sandals B01HPY7RH2 ParentAgooLar Women's Peep Toe Spikes Stilettos Frosted Solid Buckle Sandals B01HPY9VBW Parent , AgooLar Women's Open Toe High Heels Mesh Legging Solid Zipper Sandals B01HPYA0JO ParentAgooLar Women's Buckle Low Heels Blend Materials Solid Open Toe Sandals B01HPYACOM Parent , AgooLar Women's Frosted Solid Buckle Open Toe Spikes Stilettos Sandals B01HPYAJGI Parent , SISI mbili Women's Fashion Sandals multicolour Fucsia 3.5 B01HPYOMKM Parent , Women's sandals original flip flops Kenya with beads model snake gold unique handmade pieces B01HPYOQL2 Parent , SISI mbili Women's Fashion Sandals Multicolour multicolour 3.5 B01HQ02FI6 Parent , BalaMasa Womens Color Matching Thick Bottom Heel Platform PU Sandals B01HS8TE30 Parent , Womens Velvet Cutouts Colorblock Strappy Party Dress Stiletto High Heel Pump B01HUJ37XU Parent , Adee Womens Scuff Pull-On Patent Leather Slippers B01HVHKA18 Parent , Adee Ladies Dance-Character Solid Leather Sandals B01HY3H5YY Parent , AgooLar Women's Soft Material Metal Peep Toe High Heels Assorted Color Sandals B01HYV617S ParentAgooLar Women's Open Toe Buckle PU Solid High-Heels Sandals B01HYV677W Parent , AgooLar Women's Peep Toe High-Heels Soft Material Solid Zipper Sandals B01HYV6KMO ParentAgooLar Women's Buckle Open Toe Low Heels Pu Assorted Color Sandals B01HYV6L2S Parent , AgooLar Women's Buckle Open Toe High Heels Blend Materials Assorted Color Sandals B01HYV6SMG ParentAgooLar Women's Pull-on High-Heels PU Assorted Color Peep Toe Sandals B01HYV6XMG Parent , AgooLar Women's Open Toe Pull On Fabric Solid Low Heels Sandals B01HYV7906 ParentAgooLar Women's Soft Material Buckle Pointed Closed Toe Low-heels Solid Sandals B01HYV7M9Y Parent , AgooLar Women's Buckle Kitten Heels Pu Solid Closed Toe Sandals B01HYV7Q7C Parent , AgooLar Women's Assorted Color PU High Heels Peep Toe Buckle Sandals B01HYV8112 ParentAgooLar Women's Fabric Assorted Color Pull On Peep Toe Spikes Stilettos Sandals B01HYV82DO Parent , AgooLar Women's High-Heels Frosted Solid Buckle Peep Toe Sandals B01HYV88VU ParentAgooLar Women's Pull On Low Heels Fabric Solid Open Toe Sandals B01HYV89EG Parent

Time limit is exhausted. Please reload CAPTCHA.

AgooLar Women's Women's AgooLar Open Toe Spikes-Stilettos Solid Buckle Sandals Sandals B01HPJ49IW Parent f215bbb -