Arab Today, arab today stronger dollar boosts asian shares but hits commodities
Last Updated : GMT 14:00:01
Arab Today, arab today
Arab Today, arab today

The horror of attacks in Paris and Mali

Stronger dollar boosts Asian shares but hits commodities

Arab Today, arab today

Arab Today, arab today Stronger dollar boosts Asian shares but hits commodities

The euro slid for a second day after European Central Bank chief Mario Draghi
Hong Kong - Arab Today

Growing confidence the US will raise interest rates next month boosted stocks in Asia on Monday and helped the dollar cement gains, but piled pressure on commodities prices and hurt mining and energy companies.

Wall Street capped its best week all year on Friday, shaking off the horror of attacks in Paris and Mali on expectations the Federal Reserve is confident enough in the world's top economy to raise interest rates next month.

The prospect of the first rise in US rates in almost a decade boosted the greenback, but dragged down raw materials and energy prices as the stronger dollar made them more expensive for international investors.

Oil prices dipped, with US benchmark prices trading around $41 a barrel, while copper lingered near its lowest point since 2009 and gold slipped for its second day in a row.
San Francisco Fed president John Williams fuelled expectations of a rate rise this weekend when he said there was a "strong case" for a hike in December, following bullish remarks from his colleague from St Louis on Friday.

The comments "were consistent with market expectations that the ECB will ramp up its stimulus efforts and the Fed will deliver its first interest-rate hike in close to a decade next month," Philip Borkin, a senior economist for ANZ Bank in Auckland, said in comments reported by Bloomberg News.

The euro, meanwhile, slid for a second day after European Central Bank chief Mario Draghi on Friday hinted the lender could unleash further stimulus to boost stubbornly low inflation in the eurozone.

His pledge to "do what we must" to lift prices fuelled expectations the bank could expand its already vast easing scheme after the Paris attacks 10 days ago hit investor confidence in the region.
Shares in Sydney, South Korea, Shanghai and across the Asia rose in early deals on Monday. Tokyo's share market was closed for a public holiday.

But material shares were hurt by the slide in commodities, with global miner BHP Billiton dropping 2.4 percent in Sydney and Chinese energy giant Sinopec losing 1.4 percent in Hong Kong.

Hong Kong's benchmark index also went against the grain, dipping in early trade, led by a slump in major Chinese brokerage Guotai Junan after the company said its chairman and CEO Yim Fung could not be found.

The company's shares fell by as much as 15 percent on Monday morning, the day after the southern Chinese city held its first elections since huge pro-democracy protests last year.

Key figures around 0245 GMT

Tokyo - Nikkei 225: CLOSED

Hong Kong: DOWN 0.2 percent at 22,704.27

Sydney: UP 0.4 percent at 5,276.10

Euro/dollar: DOWN to $1.0604 from $1.0713 in New York

Dollar/yen: UP to 123.26 yen from 123.02 yen

New York - Dow: UP 0.51 percent at 17,823.81 (close)

New York - S&P 500: UP 0.38 percent at 2,089.17 (close)

New York - Nasdaq: UP 0.62 percent at 5,104.92 (close)

-- Bloomberg News contributed to this report --
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today stronger dollar boosts asian shares but hits commodities Arab Today, arab today stronger dollar boosts asian shares but hits commodities

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today stronger dollar boosts asian shares but hits commodities Arab Today, arab today stronger dollar boosts asian shares but hits commodities

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday