INBLU INBLU EV Parent 29 D Sandal Women B07CVQWH4C Sandal Parent b9eeef4 -

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.”

INBLU INBLU EV Parent 29 D Sandal Women B07CVQWH4C Sandal Parent b9eeef4

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 *

1TO9 Womens Fringed Self-Tie Heeled-Sandals Urethane Heeled Sandals MJS03009 B07CWMLWHH Parent , DKFJKI Women's Rhinestone High Heel Sandals Open-Toed Stiletto Heel Sandals B07CWP6Y85 ParentWomen Sandals Platforms Thick Heel Buckle Fashion Dress B07CWPM3ST Parent , Lady High Heels Buckle Tip Sandals Shallow Trendy Sparkling Dress B07CWPLND7 ParentInuovo Women’'s 8758 Flip Flops B07CXH9RKP Parent , ZHZNVX The slope of the girl with fish mouth sandals chic and comfortable high-heeled slope with fish mouth female... B07CWRNDGZ ParentYMFIE After the strap lady's toe sandals summer drill low heels slippers. B07CWYBGW1 ParentWomen's Peep Toe High Heels Buckles Ankle Strap Platform Strappy Evening Party Prom Sandals B07CWTKFFC ParentWomen's Pointed Toe Bow Shallow Stilettos Pump Heels Dress Party Peep Toe Sandals B07CWT2FPL ParentYMFIE Ladies wear toe sandals summer beach beach flat sandals two ways dressing. B07CWZ4ZPM Parent , YTTY Thick High Heel Strap Sandals Female B07CZ2S5F8 Parent , GLTER Women Roman Sandals 2018 New Suede High-Heel Metal Decorative Glamorous Ankle Strap Pumps B07CXQM62R Parent , DKFJKI Women's Pointed Sandals Fine Heel Wild Shallow Mouth Cherry Decoration Fashion B07CZ23VSD Parent , DKFJKI Women's High-Heeled Sandals Pointed Buckled Fine Heel Patent Leather Pumps B07CZ29CD7 Parent , 1TO9 Womens Platforms-Sandals Bows Peep-Toe Urethane Platforms Sandals MJS03014 B07CZ36P9K Parent1TO9 Womens Beaded Buckle Peep-Toe Urethane Platforms Sandals MJS03012 B07CZ2W95S Parent , KUKI Women Rhinestone Open Toe Sandals and Slippers B07CZ3G62G Parent , YTTY Female Sandals Sandals Female Leather Hollow Raised Sandal Female B07CZ3GDRF ParentZHONGST Ms Summer Sandals High Heel Sandals Soft Metal Foot Rings B07CZHZSBG Parent , 1TO9 Womens Heeled-Sandals Peep-Toe Buckle Urethane Heeled Sandals MJS03032 B07CZ4BXF4 Parent , 1TO9 Womens Athletic-Sandals Peep-Toe Flap Urethane Athletic Sandals MJS03037 B07CZ3RWVD Parent , ZHONGST Women's Summer Sandal Fashion High Heel Sandal Metal Decoration B07CZHKFNW Parent1TO9 Womens Sandals Solid Chunky Heels Microfiber Sandals MJS03034 B07CZ427V6 ParentYTTY Female Sandals Fashion Sandals Female Leather High Women Sandals B07CZ4SMVP Parent1TO9 Womens Platforms-Sandals Jewels Buckle Urethane Platforms Sandals MJS03015 B07CZ4C3JT ParentIGI&Co 1176 Wedge Sandals Women Yellow 37 B07CZMNTML Parent , 1TO9 Womens Beaded Peep-Toe Platforms-Sandals Urethane Platforms Sandals MJS03016 B07CZ4CS2K Parent , 1TO9 Womens Solid Platforms-Sandals Bows Urethane Platforms Sandals MJS03011 B07CZ4CJXW ParentKUKI Women's rhinestones decorated high-heeled sandals B07CZ4L1MQ Parent

Time limit is exhausted. Please reload CAPTCHA.

INBLU INBLU EV Parent 29 D Sandal Women B07CVQWH4C Sandal Parent b9eeef4 -