Clarks Ankle 30294 Boots 26128756 DEVREEVIOLA Boots GTX Ankle Brown B073R9JV5Q Parent 6fce912 -

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.”

Clarks Ankle 30294 Boots 26128756 DEVREEVIOLA Boots GTX Ankle Brown B073R9JV5Q Parent 6fce912

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 *

Gentlemen/Ladies Mustang 5026-617 Girls Boots B07G8J47ZZ Parent sell Selected materials Breathable shoesFRYE Women's Cece Jodhpur Boot, Black, 10 M US B01CH9XGBQ ParentPEDRO MIRALLES Women’s 29375 Slouch Boots B071P3JHVZ ParentGrisport Lady Orion Lightweight Waterproof Walking Boot with Vibram Sole, Sizes 36-42 B07D4KMGMB Parent , Men/Women Skechers Windom, Women’s Boots B01MZGC5C8 Parent Various styles Skilled manufacturing Fair priceJANE KLAIN Women’s 262 357 Combat Boots B07C8KN64Y Parentregarde le ciel Women's Giovanni 65 Boots B01LZSW70D Parent , Bronx Bx 1264 Btexx, Women’s Boots B071YNQSYX Parent , Shoo Pom Girl's Bouba Apple Shoes B07GZJFHNL Parent , Aerosoles Women's Shore Fit Boot B01G4BLNU4 Parent , Miz Mooz Women's Archer Extended Calf Boot B00X0LZ1NC ParentGentleman/Lady Rieker Z0120, Women’s Boots B00CJYA8C0 Parent Best-selling worldwide Known for its good quality Outstanding function , Remonte Dorndorf Women's D0174 Boots Brown Braun (muskat/muskat / 24) 3.5 UK / 36 EU B00VHLWDWY ParentBrinley Co Women's Augusta 02 Slouch Boot, Black, 10 M US B005I0EGFW Parent , Tamaris 25037, Women’s Cold Lined Classic Boots Short Length B00XL9QNSK Parent , ILSE JACOBSEN Gummistiefel Hoch, Women’s Wellington Boots B07233QMWL Parent , Man's/Woman's Rieker Women’'s L3869 Boots B0719CNFGH Parent New Listing Fine art Diversified new designAerosoles Women's High Gear Winter Boot B013HW3OFA ParentJBU by Jambu Women’s Bristol Weather Ready Ankle Boot B07C8P41LD ParentGentle Souls Women's Brian Mid-Calf Buckle Detail Angled Topline Suede Harness Boot B06XXLV37H ParentMilwaukee Leather Women's Waterproof Side Zipper Plain Toe Boots (Black, Size 9) B06XG28M9K 9 B(M) US , s.Oliver 25354, Women’s Ankle Boots B01F76FDBM Parent , Cubanas Women’s Rainy Chelsea Boots B079G4H1G1 Parent , Man's/Woman's Rieker Y0072-43, Women’s Boots B00K76UNA4 Parent Quality queen Year-end sale businessHigh heels In autumn and winter, the slope and the boot are 13 centimeters. B07GTM6HP4 Parent , Bearpaw Women’s Natalia Slouch Boots B06XYKBY75 Parent , Gentlemen/Ladies CAPRICE Women’s 25505 Boots B01MZG7DJT Parent service Upper material Current shape , Jessica Simpson Women's Zamia Ankle Boot, Warm Taupe, US US B072M6N4XY Parent , Gentlemen/Ladies Tamaris 1-26018-29 Womens Boots B07647QT5L Parent Many styles the most economical Good quality

Time limit is exhausted. Please reload CAPTCHA.

Clarks Ankle 30294 Boots 26128756 DEVREEVIOLA Boots GTX Ankle Brown B073R9JV5Q Parent 6fce912 -