Dolce Dolce Vita Women’s nhta-30297 Maureen Pump B0756KK3BC Parent Parent e7f7e35 -

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.”

Dolce Dolce Vita Women’s nhta-30297 Maureen Pump B0756KK3BC Parent Parent e7f7e35

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 *

Nine West Women's Mykela Synthetic Dress Pump B01ERWTACA Parent , Vince Camuto Imagine Women's Olivia Dress Pump B01FNQW03U Parent , Schutz Women's Moranita Dress Pump B01F9JCO6E Parent , Steve Madden Women's Tomorrow Dress Pump B01GF4EP8C Parent , French Connection Women's DITA Platform Pump B01FULT88S Parent , Nine West Women's Hannley Leather Dress Pump B01HGWUHG6 Parent , Nine West Women's Molina Suede Dress Pump B01HDPUIPQ Parent , J.Renee Women's Kenlie Dress Pump B01INJPGAI ParentNina Original Women's Blondell Dress Pump B01HQ4OT5Y ParentDaya by Zendaya Women's Minnie Dress Pump B01K1J9ZRS Parent , Bella Vita Women's NIKO Dress Pump B01HYCL5U0 Parent , Anne Klein Women's Henrika Fabric Dress Pump B01KTFXRK0 Parent , Nine West Women's Everina Suede Dress Pump B01J4ISBHM Parent , Seychelles Women's Journey Dress Pump B01L80JD3U ParentNine West Women's Morrisa Dress Pump B01KXV2QUC ParentMan/Woman Seychelles Women’s Sightseeing Pump B01L81H0UW Parent Modern and elegant fashion Medium cost fineSeychelles Women's One Kiss Dress Pump B01L80YJNY Parent , Ivanka Trump Women's Kayden6 Dress Pump B01LOXDKCG Parent , Calvin Klein Women's Georgie Dress Pump B01L8JX3GY ParentSteve Madden Steven by Women's Tour Dress Pump, Camel Suede, 6 M US B01M020Z7X ParentSteve Madden Steven by Women's Bambu Dress Pump B01LZ2TNL3 ParentJ. Renee Women's Venda Dress Pump B01M1K38FS Parent , Nine West Women's Kresten Suede Dress Pump B01M1164W5 Parent , Rachel Comey Women's Parker Dress Pump B01M7SFLJQ ParentKendall & Kylie Women's Clara Dress Pump B01M1O2MYK ParentAndre Assous Women's Steph Dress Pump B01M9J1YGY Parent , J. Renee Women's Sailaway Wedge Pump B01M1UUSBH Parent , Splendid Women's Kelli Dress Pump B01MA11UKJ Parent , Anne Klein Women's Hollyn Leather Pump, Wine B01M7X2X4K Parent ,

Time limit is exhausted. Please reload CAPTCHA.

Dolce Dolce Vita Women’s nhta-30297 Maureen Pump B0756KK3BC Parent Parent e7f7e35 -