Carolbar Platform Women's Carolbar Zip Western Rivets Zip Platform Biker Boots B07F8NTFF6 Parent 769f82e -

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.”

Carolbar Platform Women's Carolbar Zip Western Rivets Zip Platform Biker Boots B07F8NTFF6 Parent 769f82e

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 *

GOMNEAR Men & Women Warm Ankle Boots Winter Outdoor Shoes Snow Non-Slip Flat Shoes B077X5SPKG ParentArtfaerie Womens Leopard Print Ankle Boots Stiletto High Heels Button Fold Boots Pointed Toe Party Shoes B07HD696SP Parent , BC Footwear Women's Bundle Ankle Bootie B01KJGC1HE Parent , Vero Moda Womens Tulle Boots in Black B075H9WC9P Parent , Trespass Samira, Women’s Wellington Boots B01MTKC5LT Parent , Carolbar Women's Solid Color Modern Platform High Heel Zip Short Boots B01M154PPM ParentWomen's Boots Flat Wedge Ankle Boots at Ital-Design B076361Y43 ParentKaizi Karzi Women Thin Heel Heel Dress Boots B07G29SXP5 ParentRAZAMAZA Women Fashion High Heel Autumn Booties B07G236N26 ParentRAZAMAZA Women Fashion Pointed Toe Short Boots B07G97V9JZ Parent , Coolcept Women Pull On Western Boots Block Heel B07GKQH3FN ParentMelady Women Fashion Pull On Short Boots Slouch B07GFK2CW9 Parent , RAZAMAZA Women Block Heel Ankle Boots Zipper B07H9YHQ6B Parent , RAZAMAZA Women Fashion High Heel Ankle Boots Zip B07GYXFNYK ParentTamaris 25881, Women’s Cold Lined Classic Boots Short Length B016SPWAXK ParentCoolceptWomenFashion Block Heel Long Boots Zip B07HH1K1BJ ParentRAZAMAZA Women Ankle High Booties Buckle Slouch Low Heel Strap Casual Shoes B076PDTYFV ParentCoolcept Women Fashion Flat Booties Shoes Warm Faux Fur Ankle High Snow Boots B01LZVCS46 Parent , Minetom Women Autumn Winter Rivet Ankle Booties Short Boots Pointed Toe Chunky Heel Leather Boots B076WZ4QNL ParentNew Ladies/Womens Wider Fit Rubber Wellington Boots in Floral Print - Navy Floral - UK Sizes 3-8 B0735C3RKV Parent , Poplover Womens Medium Military Boots Buckle Thick Bottom Boot B07GKJBNXK Parent , True Face Ladies Chelsea Faux Suede Ankle Boots Cowboy Shoes B07HL6FSWF ParentDirty Laundry Women’s Chrystal Boot B01DVUB4VE ParentSHU CRAZY Womens Ladies Faux Leather Flat Low Heel Zip Up Knee High Winter Riding Biker Boots - K98 B079RJFTHL Parent , Dockers 35iz301-610100, Women's Combat Boots B00XVU2MB6 Parent , Guess Womens Galeno Leather Closed Toe Ankle Fashion Boots B01HNYW3VO Parent , TAOFFEN Women's Thin High Heels Ankle High Boots Shoes B01LMRQ08A Parent , New Look Women’s Archive 5358752 Cowboy Boots B074QT252S ParentPimkie Women’s Crw17 Pointedboots Ankle Boots B078J7HRN8 Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Carolbar Platform Women's Carolbar Zip Western Rivets Zip Platform Biker Boots B07F8NTFF6 Parent 769f82e -