NIKE Women’s WMNS Compete Free Cross Compete Free Gymnastics Gymnastics Shoes B014I2PGCC Parent 92dd925 -

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.”

NIKE Women’s WMNS Compete Free Cross Compete Free Gymnastics Gymnastics Shoes B014I2PGCC Parent 92dd925

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 *

Puma Women’s Carson Runner WN's Illusion Running Shoe B01C009UEE ParentReebok Reefunk Ii Lo Core, Women’s Sneakers B01C0CG40A Parentara MARSALA 12-35313-07 Womens Sandal B01C0F1790 Parent , SCARPE DONNA GEA LOW GTX B01C8M0D18 Parent , Men's/Women's Gabor Hoshi, Women's Sandals B01CELZANY Parent feature Various types and styles Preferential priceSalomon Women’s L38161300 Trail Running Shoes, Blue B01CES43XK Parent , Legero GORLA 6-00729-25 Womens Sandal B01CGABFQE Parent , CULT-Gym Black Fabric and Leather-cross-linked, taped seams and rubber sole, girls, girl's B01CRFZPUA Parent , Bos. & Co. Women's Romona Snow Boot B01CSH12HC ParentReebok Women’s One Distance 2.0 Avon Running Shoe, Multi B01CVESQ6C Parent , Rumpf 1561 Canvas Dance Boot Grey,Orange & Pink (Grey, 7 UK) B01CWGDLO6 Parent , SKECHERS KIDS Mens Whipsaw-Trooperz 92291L (Little Kid/Big Kid) B01D0KTXAY ParentG.H. Bass & Co. Women's Dorothy Rain Boot B01D0RM2UK ParentG.H. Bass & Co. Women's Danielle Rain Boot, Tan/Chocolate, 6 M US B01D0RQC0Q Parent , Werner Kern Ladies Tiziana Ballroom Shoe (BLACK, 1) B01DAEHUA0 Parent , Asics Unisex Adults' Gel-Kayano Evo Hn512-2523 Cross Trainers, Red B01D8WIH60 Parent , Saucony Women's Vendetta Spike Shoe B01DAY71RM ParentNIKE Women039;s sports shoes, colour Red, brand, model Women039;s Sports Shoes Wmns Air Max Thea Red B01DAWRYS0 ParentMan/Woman Heelys Kids' Launch Sneaker B01DE4AEKO Parent for you to choose high quality best seller , Man/Woman PUMA Flare Graphic B01DH35D3K Parent Outstanding features Online export store Speed ​​refundVans Court Mid Men Round Toe Canvas Blue Skate Shoe B01DMQ14O4 Parent , Puma Unisex Adults' Veloz III Multisport Indoor Shoes, Red Blast-White-Black 01 B01DKJ1MCM ParentMoon Boot Technical Maxima WS B01DN2WGMG Parent , Reebok Zcut TR Training Junior's Shoes Size B01DMTCSCS ParentTHE NORTH FACE W M2m, Women’s Sneakers B01DWAS0I8 Parent , White Mountain Women's Tomi Snow Boot B01DS40KTA Parent , Gentleman/Lady Puma Blaze B01DX3UO0Q Parent Good design King of quantity Different styles and stylesSkechers Kids Boys' Electronz-Blazar Sneaker, Black/Red, 7 M US Toddler B01DWE067C Parent , NEW BALANCE Women039;s Sports Shoes, Colour White, Brand, Model Women039;s Sports Shoes WL999 WM White B01E3YIJCY Parent ,

Time limit is exhausted. Please reload CAPTCHA.

NIKE Women’s WMNS Compete Free Cross Compete Free Gymnastics Gymnastics Shoes B014I2PGCC Parent 92dd925 -