Arab Today, arab today asian shares extend rally led
Last Updated : GMT 21:36:03
Arab Today, arab today
Arab Today, arab today

By surge in Shanghai

Asian shares extend rally led

Arab Today, arab today

Arab Today, arab today Asian shares extend rally led

Asian shares swept higher on Monday
Hong Kong - Arab Today

Asian shares swept higher on Monday, with Shanghai leading the charge after news China had replaced its securities regulator, while a rise in oil prices cheered investors across the region.

Equities extended last week’s sharp rally, notching gains almost across the board after reports that Russia and Saudi Arabia may freeze production sent crude higher.

Chinese shares closed up more than two percent after the head of the securities regulatory body who was in place during last year’s market rout was dismissed, while Japan’s exporters gained on a weaker yen.

But traders remained cautious after a rollercoaster start to the year. The pound sank after news London’s popular mayor would campaign for Britain to leave the EU in a June referendum.

“People are willing to take risk again,” Karl Goody, a private wealth manager at Shaw and Partners in Sydney, told Bloomberg News.

“People are looking at the sell-off this year and saying: enough is enough, there’s been enough pain now.”

Financial markets have been on edge as fears the world economy is stalling have sent stocks and commodities tumbling and hammered oil prices, already weighed down by a global supply glut.

Crude flirted with 13-year lows this month, diving below $30 a barrel, but news that major producers Saudi Arabia and Russia plan to cap production has eased some concerns the market will be oversupplied for years.

At around 0800 GMT Monday, US benchmark WTI for delivery in March was up 59 cents at $30.23. Brent, for April, advanced 50 cents to $33.50 a barrel.

– China fires regulator head –

Chinese shares jumped after state media reported Saturday the head of the country’s securities regulator, Xiao Gang, would be replaced by Liu Shiyu, chairman of the Agricultural Bank of China.

China has been struggling to reassure investors it has a grip on its financial markets after a rout last summer wiped trillions off equities, prompting the government to step in and tighten regulations.

Shanghai fell 23 percent in January, the world’s worst-performing major market.

The benchmark index closed Monday up 2.35 percent, while Tokyo added 0.90 percent during the day.

In currency markets, the pound fell the most against the dollar in a month as campaigning over a potential “Brexit” from the European Union began in earnest.

Prime Minister David Cameron’s push to keep Britain in the bloc after clinching a “special status” reform deal took a blow on Sunday when London Mayor Boris Johnson said he would support leaving.

The pound dropped more than one percent against the dollar in response, and was trading at $1.4200 at 0750 GMT, compared to $1.4392 in New York on Friday.

“Brexit will be one of the biggest events in 2016,” said Evan Lucas, a markets strategist at IG in Melbourne.

“Boris Johnson’s decision over the weekend to support the Brexit campaign has caused the pound to move wildly. He is widely believed to be the next leader of the Conservative Party and is highly popular — his position has a lot of influence.”

– Key figures around 0745 GMT –

Tokyo – Nikkei 225: UP 0.90 percent at 16,111.05 (close)

Shanghai – composite: UP 2.35 percent at 2,927.18 (close)

Hong Kong – Hang Seng: UP 0.87 percent at 19,455.26

Euro/dollar: DOWN at $1.1093 from $1.1131 on Friday

Dollar/yen: UP at 112.82 yen from 112.62 yen

New York – Dow: DOWN 0.1 percent at 16,391.99 (close)

London – FTSE 100: DOWN 0.4 percent at 5,950.23 points (close)

Source :AFP

 

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 asian shares extend rally led Arab Today, arab today asian shares extend rally led

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 11:11 2017 Tuesday ,21 February

Warns potential suspension of work

GMT 06:21 2017 Monday ,20 February

Decline of Iraq’s foreign reserves to $49bn

GMT 18:15 2017 Sunday ,19 February

Official accuses militias of challenging companies

GMT 06:51 2017 Saturday ,18 February

Blames government for economic crisis

GMT 06:35 2017 Saturday ,18 February

MP calls for re-operating closed companies

GMT 13:35 2017 Friday ,17 February

Confirms Britain is biggest investor in Egypt

GMT 15:55 2017 Thursday ,16 February

Egyptian foods completely unobserved nor healthy
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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