Aravon B072L474ZX Women's Bromly Double Strap Fashion Sneaker Fashion Sneaker B072L474ZX Parent 452642f -

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.”

Aravon B072L474ZX Women's Bromly Double Strap Fashion Sneaker Fashion Sneaker B072L474ZX Parent 452642f

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 *

NIKE Women’s WMNS Free Rn 2018 Competition Running Shoes B072N1M2B7 Parent , Men/Women Chaco Womens Juniper Juniper B072N1RNP5 Parent New market Attractive fashion King of the crowd , NIKE Women’s Damen Laufschuh Free Run 2018 Competition Shoes B072N1M987 Parent , Chaco Women's ZX1 Classic Sport Sandal B072N1Z4NW ParentChaco Womens Z/Cloud X2 Remix B072N1Y64F Parent , Merrell Womens All Out Crush Tough Mudder 2 Boa B072N43PPZ ParentReebok Plus Lite Ti, Women’s Track Shoe B072N332S4 Parent , Summer Women Fashion Sandals Comfortable,42 Blue B072N5PPB3 ParentSummer Women Fashion Sandals Comfortable,38 Apricot B072N5PBGG Parentadidas Performance Adizero Shotput Track Shoe B072N6RDPV Parent , Ladies Leather Sandals With Slope Toe Slippers Summer Sandal ,35 Silver B072N5PPM2 ParentBOBS from Skechers Women’s Bobs B-Loved-Static Free Hiking Boot B072N7JPPS ParentNIKE Women’s W Air Zoom Pegasus 34 Gem Fitness Shoes B072N6V5B6 Parent , Gentlemen/Ladies Aldo Womens Adessi_ B072ND1943 Parent High quality and low overhead auction Very good classificationMen's/Women's Aldo Womens Eresa B072NBP1BX Parent fashion Skilled manufacturing British temperament , ALDO Women's Mihaela_w Riding Boot, Black Nubuck, 8 B US B072ND2BHK Parent , ALDO Women's Mihaela_w Riding Boot, Black Leather, 6 B US B072ND1997 ParentKEEN Women's Newport Evo-W Sandal, Sand Trap/Provincial Blue, 5.5 M US B072NRZBF1 Parent , Keen Women’s Whisper Sports Sandals B072NS17DM Parent , Man/Woman Aravon Womens Winsor Moc B072P3CHF7 Parent Selling Win the praise of customers Highly appreciated and widely trusted in and out11sunshop Model Horse Leather Boots by HGilliane Design EU 33 to 44 B072P26JT5 Parent , Man/Woman Brooks Women's Caldera 2 B072PCPDBM Parent Reasonable price Reliable performance Excellent function , Aravon Women's Kitt Asym Dress Pump B072P2T94C Parent , adidas Women's Questar Tnd W Running Shoe B072PPC3HJ ParentNIKE Women's Lunarsolo Running Shoes B072PD6N78 Parent , NIKE Women’s Damen Trainingsschuh in-Season Train 6 Fitness Shoes B072PSTW91 ParentNike Women’s W Flex Trainer 7 Competition Running Shoes B072PVJVT4 Parent , Reebok Women’s Print Her 2.0 Thrd Running Shoe B072PTHG7H Parent , Pearl Izumi Women’s W X-alp Elevate Cycling Shoe B072Q12FZD Parent

Time limit is exhausted. Please reload CAPTCHA.

Aravon B072L474ZX Women's Bromly Double Strap Fashion Sneaker Fashion Sneaker B072L474ZX Parent 452642f -