Arab Today, arab today asia stocks mostly up early us rate hike unlikely
Last Updated : GMT 17:37:48
Arab Today, arab today
Arab Today, arab today

Asia stocks mostly up, early US rate hike unlikely

Arab Today, arab today

Arab Today, arab today Asia stocks mostly up, early US rate hike unlikely

Asian markets
Hong Kong - AFP

Asian markets mostly rose Friday morning following another record close on Wall Street as the likelihood of a US interest rate hike in the near term dwindled.

Chinese shares were again the stand-out the performers on hopes that Beijing will announce fresh monetary easing measures after more disappointing economic indicators.

Shanghai surged 1.23 percent, Hong Kong gained 1.19 percent, Sydney added 0.19 percent and Seoul gained 0.27 percent. But Tokyo was 0.12 percent lower having rallied for five sessions to 15-year highs.

On Wall Street the S&P 500 closed at another all-time high thanks to strong earnings results and a multi-billion-dollar pharma merger.

A worse-than-expected reading on US new home sales indicated the economy was still not firing on all cylinders, which suggests it is not yet ready to absorb a Federal Reserve rate rise from record lows. On Wednesday, minutes from the Fed's April policy meeting showed board members had similar concerns.

The S&P 500 gained 0.23 percent to another record high, the Nasdaq rose 0.38 percent and the Dow was flat.

"The question of when and how fast the US Fed begins to lift interest rates remains the dominant macro issue for equity markets and will be front of mind for traders," Ric Spooner, chief market analyst in Sydney at CMC Markets, told Bloomberg News.

"Some relief on expectations for Fed tightening may be enough to see bargain hunters start to return in earnest."

With rate hike expectations narrowing the dollar eased slightly, buying 120.92 yen in early Asian trade, against 121.07 yen in New York late Thursday.

The euro bought $1.1119 and 134.46 yen against $1.1112 and 134.52 yen.

Shares in Shanghai and Hong Kong resumed their upward trend after preliminary figures on HSBC's gauge of China's manufacturing showed activity continued to contract in May.

The data is the latest showing the world's number two economy is struggling to get back on track, raising hopes for further stimulus measures, on top of the three interest rate cuts since November.

Also in Hong Kong Goldin Properties and Goldin Financial, which slumped more than 40 percent on Thursday wiping billions off their value, recovered some of their losses. Properties added 11 percent in early trade and Financial was up four percent.

But Hanergy Thin Film Power, which dived 47 percent Wednesday, remained suspended.

Oil prices were lower. US benchmark West Texas Intermediate for July delivery fell six cents to $60.66 while Brent crude for July eased 12 cents to $66.42.

Gold fetched $1,206.29 compared with $1,209.50 late Thursday.

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 asia stocks mostly up early us rate hike unlikely Arab Today, arab today asia stocks mostly up early us rate hike unlikely

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
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 Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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