Arab Today, arab today asian markets rise after ecb rate cut
Last Updated : GMT 05:01:29
Arab Today, arab today
Arab Today, arab today

Asian markets rise after ECB rate cut

Arab Today, arab today

Arab Today, arab today Asian markets rise after ECB rate cut

Hong Kong - AFP

Asian markets mostly rose on Friday, aided by a European Central Bank (ECB) interest rate cut aimed at stimulating growth in the sluggish eurozone and a positive US jobless claims report. Seoul closed 0.43 per cent, or 8.50 points, higher at 1,965.71, Shanghai ended up 1.44 per cent, or 31.38 points, at 2,205.50 and Hong Kong rose 0.10 per cent, or 21.66 points, to 22,689.96. Sydney ended flat at 5,129.5, having lost 0.5 points, while Tokyo was closed for a public holiday. On Wall Street, the S&P 500 reached a new all-time high on Thursday after ECB policymakers shaved a quarter point off the key "refi" refinancing rate to a record low of 0.50 per cent. The index increased 0.94 per cent, or 14.89 points, to reach 1,597.59, while the Dow gained 0.89 per cent and the Nasdaq added 1.26 per cent. The widely-expected ECB rate cut is part of efforts to increase demand and encourage growth in the debt-stricken eurozone. ECB chief Mario Draghi revealed that the decision was by no means unanimous among members of the policy-setting governing council, but vowed to keep rates low for as long as needed. Draghi also hinted at more easing, telling a news conference: "We will look at all incoming data and stand ready to act if needed." That suggestion sent the euro plummeting against the dollar but the single currency fought back in Asian trade on Friday, with the euro at US$1.3107 from US$1.3063 in New York on Thursday and at 128.73 yen from 127.93 yen. "The rate cut had been priced by traders prior to the announcement by the ECB, so we could be seeing a push back up with the euro," said Jason Hughes, head of sales trading at CMC Markets in Singapore. The dollar rose to 98.23 yen in afternoon trade from 97.93 yen. European stocks rose on Thursday after the ECB announcement but opened flat on Friday. Asian markets also responded positively to a better-than-expected US Labor Department report showing new claims for unemployment benefits had fallen to a five-year low. The claims - an indicator of the pace of layoffs - fell by 18,000 to 324,000, the lowest level since mid-January 2008. Hughes said dealers were hoping for more positive news on the US jobs front when non-farm payrolls data is released later Friday. Chinese shares were higher as investors booked profits after falls on Thursday on the back of weak manufacturing data. "We think it's a good opportunity to buy on dips at current levels, as weak readings on manufacturing data this week seemed to be a temporary blip and the domestic economy is on the right track to a sustained recovery," Capital Securities market analyst Amy Lin told Dow Jones Newswires. Oil was down in Asian trade, with New York's main contract, light sweet crude for delivery in June, dropping 25 cents to US$93.74 a barrel and Brent North Sea crude for June delivery shedding 21 cents to US$102.64 in afternoon trade. Prices had surged nearly US$3.0 in closing deals on Thursday after the ECB rate cut. An ounce of gold fetched US$1,485.40 at 1035 GMT, compared with US$1,455.00 late Thursday. In other markets, Wellington fell 0.66 per cent, or 30.14 points, to 4,544.32; Taipei was flat, adding 6.52 points to 8,135.03; Manila rose 1.72 per cent, or 121.93 points, to a new record high of 7,215.35; Jakarta ended down 1.37 per cent, or 68.56 points, at 4,925.48; Kuala Lumpur fell 1.09 per cent, or 18.69 points, to 1,694.77; Bangkok slid 0.64 per cent, or 10.24 points, to 1,578.95; and Mumbai fell 0.81 per cent, or 160.13 points, to 19,575.64.

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 asian markets rise after ecb rate cut Arab Today, arab today asian markets rise after ecb rate cut

 



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 markets rise after ecb rate cut Arab Today, arab today asian markets rise after ecb rate cut

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
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 Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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