Adidas Women's Stan Shoe Smith Stan W Originals Casual W Shoe Parent B0748X3BTH dc792b1 -

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.”

Adidas Women's Stan Shoe Smith Stan W Originals Casual W Shoe Parent B0748X3BTH dc792b1

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 *

Crime London Women's 25549KS151 Gold Leather Sneakers Parent B07CW3GJPPBogner Women’s New Salzburg 15b Trainers Parent B01M7SSM5W , Sneakers Women DC Tonik W SE Sneakers Women Parent B06XCXWTL5 , Skechers Women’'s Bikers-Knit Happens Sneaker Parent B01NAH9O14 , Hogan Women's Trainers silver silver Parent B06ZYD54DW , ara Women’s ROM-STF 12-44487 Hi-Top Trainers Parent B072J3HYN4 , ITTXTTI Ms. Sandals Summer Hole Shoes Hollow Plastic Crystal Jelly Shoes Flat Heel Sandals Flat Sandals, 39,... Parent B07DVLQPMLHogan Women's Trainers Silver Silver Silver Size: 5.5 Parent B076ZQ46S7Golden Goose Women's G33WS590L68 Green Leather Sneakers Parent B07HGHMNG9Geox Unisex Adults' J New Savage B Hi-Top Trainers Parent B071S5F7LZWomen Leather Round Toe High Heel Shoes Fold Booties Keep Warm Cotton Mid Calf Elegant for Ladies New Look Parent B07HFB742LTamaris Women’s 23772 Trainers, Green Parent B078T4TFRJSkechers Women's Goldie-Diamond Darling Sneaker Parent B0786Q158F , Emporio Armani Logo Pump Trainers Blue Parent B0793JF2SK , Merrell Women's Veranda Emme Mary-Jane Pump Parent B00HF6MZKU , ITTXTTI Ms. Sandals Summer Hole Shoes Hollow Plastic Crystal Jelly Shoes Flat with Women Sandals Flat Beach... Parent B07DVNLFXKMr/Ms Nike Men's Basketball Shoes Parent B00DVLTSSA main category Sales Italy a wide variety of goodsDance Gear CHP Cuban Heel PVC Tap Shoes with Toe Tap Parent B00KHXEBQ4 , ZHZNVX Women's Shoes Canvas Spring/Fall Light Soles Sneakers Flat Heel Round Toe Draping Yellow/Red / Green Parent B07H1C76JCD.A.T.E. I18-98 Low Sneakers Women Parent B07F3QZ1MLUnder Armour Women's Charged 24/7 Mid Explosive Shoes Parent B01GU9MNRMJINFENGKAI Women's Latin Salsa Dance Shoes Style 218 Parent B01AQGM6XQNew Balance - Womens 996 WL696RV1 Lifestyle Shoes Parent B01M1LNYAK , WHLShoes slippers women Ladies Cool Slippers Flat Bottom High Heel Metal Thick Bottom Waterproof Table Muffin... Parent B07DH817X6 , Men's/Women's Gabor Women’s Closed Parent B071XSQ95N Clever and practical Sales Italy Different goods , 老北京 Low-top Sneakers Slip on Canvas Shoes Wushu Kungfu Shoes Gym Shoes Parent B078NGC2ST , Gentlemen/Ladies RUCOLINE 1304-83295 Sneakers Women Parent B076K3N5LT Wear resistant fashionable a wide variety of goods , Rucoline Agile 226 Sneakers Platform Woman Black 36 Parent B07F4GRCQZJSHOE Latin Dance Shoes Salsa / Tango / Tea / Samba / Modern / Jazz Shoes Sandals High Heels Women's,Blue-heeled7.5cm-UK5... Parent B078W7K7HX ,

Time limit is exhausted. Please reload CAPTCHA.

Adidas Women's Stan Shoe Smith Stan W Originals Casual W Shoe Parent B0748X3BTH dc792b1 -