COOLCEPT Low Women 14474 Low Top Shoes B078HJ2V6P B078HJ2V6P Parent b36661e -

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.”

COOLCEPT Low Women 14474 Low Top Shoes B078HJ2V6P B078HJ2V6P Parent b36661e

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 *

Easemax Women's Dressy Slip On Low Top Pointed Toe High Stiletto Heeled Low Cut Court Shoes B078QNT9R3 ParentEasemax Women's Comfy High Stiletto Heeled Pointed Toe Slip On Low Top Court Shoes B078PM15DZ ParentCOOLCEPT Women Square Heel Court Shoes B078RLHWHK Parent , Easemax Women's Sexy Bows Faux Suede High Chunky Heels Round Toe Slip On Low Top Court Shoes B078QP187K ParentRAZAMAZA Women Casual Slip On Court Shoes B078RLV2WC ParentRAZAMAZA Women Spring Summer Chunky Pumps B078RLTC5N Parent , Agodor Women's Platform Extremely High Heels Nubuck Leather Court Shoes Slip On Closed Toe Pumps B078RMJVH9 Parent , Coolcept Women Platform High Heels Court Shoes B078S44J2Z ParentCoolcept Women Wedge High Heel Court Shoes B078S44YSK Parent , COOLCEPT Women Chunky Heels Court Shoes B078S4KJX6 ParentTAOFFEN Women's Retro Chunky Heels Court Heels B078S5TJP1 Parent , Coolcept Women Thick Sole Court Shoes B078S4NZ9F ParentTAOFFEN Women's Chunky Heel Court Shoes B078S5WN6C ParentRAZAMAZA Women Solid Office Court Shoes Heels B078S61CVS Parent , RAZAMAZA Women Classic Chunky Court Shoes B078S64YQC Parent , TAOFFEN Women's Fashion Block Heel Shoes B078S6G5S6 ParentTAOFFEN Women's Fashion T-Strap Court Shoes B078S6BP6Y ParentRAZAMAZA Women Solid Office Heels Pumps Shoes B078S6G5WD Parent , IKRUSH Womens Vera Diamante Chrome Strap Barely There Heels B078S9YHX9 ParentMarc Fisher Womens Turnner4 Pointed Toe Classic Pumps B078SP7R6N ParentRAZAMAZA Women Wedge Heels Court Shoes B078SSL5CR ParentRAZAMAZA Women Chunky Heels Court Shoes B078SSPX9Y ParentRAZAMAZA Women Fashion Wedges Court Shoes B078SSQ84R ParentCOOLCEPT Women Solid Wedge Heel Court Shoes Bow B078STLKNY ParentCOOLCEPT Women Wedge Heels Pumps Shoes B078STMTYZ ParentCOOLCEPT Women Closed Toe Court Shoes B078STRG7Q Parent , Agodor Womens Stiletto High Heels Glitter Court Shoes Pointed Toe Elegant Pumps B078STVCP3 Parent , COOLCEPT Women Low Heel Mary Jane Pumps Shoes B078SV2KT2 ParentKelly & Katie Womens Coderno Fabric Closed Toe Classic Pumps B078SYL5N7 Parent

Time limit is exhausted. Please reload CAPTCHA.

COOLCEPT Low Women 14474 Low Top Shoes B078HJ2V6P B078HJ2V6P Parent b36661e -