Brooks 29422 Shoes Women’s Defyance 9 Running Brooks Shoes B00YDKBRDC Parent 2aaabaa -

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.”

Brooks 29422 Shoes Women’s Defyance 9 Running Brooks Shoes B00YDKBRDC Parent 2aaabaa

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 *

Hoka One One Women's W Arahi 2 Running Shoe B071FBRJK5 Parent , Gentleman/Lady Women's WM34 SPD Shoes B014R4BBWK Parent Charming design Strong value Elegant and robust menuAsics Gel-Pulse 7, Women's Running Shoes B00Y3X8DV8 Parentadidas Women’s Energy Cloud 2 Competition Running Shoes B078T91YJF Parent , Puma Unisex Adults’ Bolt Evospeed Electric v2 Running Shoes - Match Shoe B00PAHBBMO ParentHi-Tec ST Moritz, Women's Hiking Boots B00G54MO2C ParentAsics Women’s Gel-Rocket 8 Volleyball Shoes B071F4XKGZ Parent , Asics Gel-Quantum 180 2 Running Shoe B07C4PPM3Q Parent , Merrell Women’s Siren Edge Q2 Low Rise Shoes B078NJSNNT ParentWalsh PB Elite Trainer Fell Running Shoes - AW18 B002PIQW98 Parentadidas Women’s Stabil X W Handball Shoes, Black B07217452S ParentK-Swiss Performance Women’s Ks Tfw Bigshot Light LTR Omni Tennis Shoes B01N495C9S ParentGiro Women’s Techne Road Cycling Shoes B01MSZGP54 Parent , Under Armour Women’s Ua W Speedform Intake 2 Competition Running Shoes B07762T8D3 ParentBrooks Defyance 9, Women’s Running Shoes B01GEYYMX6 ParentGentleman/Lady Wilson Men’s Rush Evo B01CIHNAGI Parent High security Brand Outstanding style , Asics Gel-Kinsei 6 Women's Running Shoes (T692N) B01G6HSCUK Parentadidas Women’s Energy Boost 3 Competition Running Shoes B01N6JPKVQ ParentMerrell Women’s Avalaunch Trail Running Shoes B01N43KQPK ParentBrooks PureFlow 6, Women’s Running Shoes B01N5EKOGB ParentMizuno Thunder Blade Women's Indoor Court Shoes - AW18 B07DD4Y9ZH ParentK-Swiss Performance Accomplish LTR, Women’s Tennis Shoes B00QM54PAS Parent , MILLET Women's Siurana Climbing Shoes B06X195B1Y ParentAsics Women’s FuzeX Rush Adapt Running Shoes B077MWPVS2 ParentMerrell Women’s Siren Sport Q2 GTX Low Rise Hiking Boots B06X9TJNJD ParentNike Air Epic Speed TR II 852456/046 Unisex-Adult Sports Shoe, Grey 9.5 UK B079ZY1KQV ParentBoreal Jocker Velcro Unisex Sports Shoes B001HDM94Y ParentAsolo Women’s Megaton Gv ml Low Rise Hiking Shoes B07B368KFX Parent , NIKE Women’s Lunar Tempo 2 Print Training Running Shoes B014EC7OHQ Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Brooks 29422 Shoes Women’s Defyance 9 Running Brooks Shoes B00YDKBRDC Parent 2aaabaa -