Arab Today, arab today asian shares cheered by wall street rally
Last Updated : GMT 00:30:05
Arab Today, arab today
Arab Today, arab today

Asian shares cheered by Wall Street rally

Arab Today, arab today

Arab Today, arab today Asian shares cheered by Wall Street rally

Asian shares
Hong Kong - AFP

Asian stocks rose on Thursday, with Hong Kong leading the gains after a rally on Wall Street cheered investors and eased fears of a deep and lasting global market rout.

Comments from a senior US Federal Reserve official that the case for a rate rise in September had weakened and upbeat durable goods data also boosted sentiment, pushing up the dollar.

Tokyo stocks closed up 1.08 percent, or 197.61 points, to finish at 18,574.44, while Seoul gained 0.73 percent, or 13.91 points, to 1,908 and Sydney rose 1.17 percent, or 60.53 points, to 5,233.30.

Hong Kong rose 1.94 percent in afternoon trading and Shanghai gained 0.81 percent.

Wall Street finished sharply higher on Wednesday, ending a six-day losing streak after fears for China's stalling economy wiped some $8 trillion from global share markets.

Asian shares had ended the day mixed after a volatile session that saw Shanghai veer wildly between losses and gains as dealers weighed news that China's central bank had cut its key rates and moved to free up cash for banks.

Thursday's gains came after William Dudley, the head of the New York branch of the Fed, said the reasons for a rate hike in September had been dampened by the turmoil gripping financial markets.

Dealers had feared that a rise in US rates -- their first in almost a decade -- would heap pressure on the world economy at a time when a slowdown in China is already expected to drag on growth.

A better-than-expected official US manufacturing report showing orders for durable goods -- products expected to last at least three years -- jumped 2.0 percent in July also added to the optimism.

- 'Phenomenal bounce' -

"Strong durable goods numbers out of the US and tempting valuations saw a phenomenal bounce in all US equities," said Angus Nicholson at IG Markets.

"William Dudley's speech seemingly put to bed any prospect of September rate hikes... I think the market will largely be looking towards December as the most likely date if a rate hike happens this year."

In currency markets, the dollar gained and dealers sold the yen -- seen as a safe haven during times of market turmoil -- as risk aversion eased.

In Tokyo trading, the dollar bought 119.97 yen after crossing the 120 yen mark in earlier trading, and was nearly flat against 119.98 yen in New York.

This week it touched a six-month low of 116.18 yen.

The euro was stronger at 136.14 from 135.72 yen. The 19-nation euro fetched $1.1348, up from $1.1312 in US trade.

Gold, also seen as a safe haven when markets are going haywire, traded at $1,127.42, down from $1,131.80 late Wednesday.

Oil rose in Asia as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.

US benchmark West Texas Intermediate for October delivery gained 87 cents to $39.47 while Brent crude for October rose $1.01 to $44.15 in afternoon trade.

In other markets:

-- Taipei rose 1.41 percent, or 108.96 points, to 7,824.55.

Taiwan Semiconductor Manufacturing Co added 1.22 percent to Tw$124.0 while Hon Hai Precision Industry closed 1.32 percent higher at Tw$84.6.

-- Wellington closed up 1.02 percent, or 57.17 points, at 5,634.95.

Spark rose 3.37 percent to NZ$3.225 and Warehouse Group lifted 0.78 percent to NZ$2.60.

-- Bloomberg News contributed to this report --

arabstoday
arabstoday

GMT 21:31 2017 Wednesday ,18 October

Bahrain Bourse daily trading performance

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance
Arab Today, arab today
Arab Today, arab today

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 cheered by wall street rally Arab Today, arab today asian shares cheered by wall street rally

 



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 cheered by wall street rally Arab Today, arab today asian shares cheered by wall street rally

 



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 Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
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 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 Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
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 Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

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 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

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