asian markets rally after wall st lead euro struggles
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Asian markets rally after Wall St lead, euro struggles

Arab Today, arab today

Arab Today, arab today Asian markets rally after Wall St lead, euro struggles

European stocks pushed higher despite continued political uncertainty in Germany
Hong Kong - Arab Today

Asian markets mostly rose on Tuesday as traders took heart from a healthy run on Wall Street, though German political uncertainty kept pressure on the euro.

While concerns about the prospects for US tax reform continue to nag, optimism about the global economy provided some buoyancy to equities, with all three main New York indexes closing higher.

However, with the Thanksgiving holiday shortening the US trading week analysts do not expect much more guidance from New York in the next few days.

Still, Tokyo jumped 0.7 percent, led by exporters as the dollar held on to most of its gains against the yen.

The greenback was marginally down from its New York mark, at 112.60 yen, but sharply higher than the levels around 112 yen seen earlier Monday in Asia.

Among other markets Hong Kong pushed 1.9 percent higher to a 10-year high, with Tencent up 2.4 percent, extending Monday's surge that makes it the first Asian member of the exclusive club of global firms with a market capitalization above $500 billion.

The Chinese internet giant was about $520 billion, around the same as Facebook.

Shanghai gained 0.5 percent and Sydney was up 0.3 percent. Seoul rose 0.1 percent and Taipei put on 1.1 percent but Manila, Jakarta and Wellington dipped.

There was little negative reaction to news that Donald Trump had redesignated North Korea as a state sponsor of terror, promising Monday to increase sanctions on it.

On currency markets the euro edged up but is still under pressure after German Chancellor Angela Merkel struggled to form a government following months of horse-trading with other parties failed.

The leader of 12 years indicated Monday she was ready to hold snap elections after the collapse of coalition talks at the weekend plunged Europe's biggest economy into turmoil.

"Merkel said she didn't favour a minority government because it wouldn't bring the stability necessary to govern effectively," said Greg McKenna, chief market strategist at AxiTrader.

"That suggests more talks but an increased chance of fresh elections in early 2018. How that plays out is going to be interesting for the euro and certainly the Brexit process as well."

The single currency was higher against the dollar, but some market-watchers have warned it could sink as low as $1.1160, despite an expected tightening of monetary policy by the European Central Bank.

In early European trade London fell 0.2 percent while Paris and Frankfurt each shed 0.1 percent.

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*

asian markets rally after wall st lead euro struggles asian markets rally after wall st lead euro struggles

 



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*

asian markets rally after wall st lead euro struggles asian markets rally after wall st lead euro struggles

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday