Arab Today, arab today asian stocks rally on central bank offensive
Last Updated : GMT 18:13:09
Arab Today, arab today
Arab Today, arab today

Asian stocks rally on central bank offensive

Arab Today, arab today

Arab Today, arab today Asian stocks rally on central bank offensive

Hong kong - AFP

Asia-Pacific stocks rallied strongly Friday after the world\'s most powerful central banks offered dollar supplies to benefit lenders under pressure from the eurozone debt crisis. The European Central Bank and its US, Japanese, Swiss and British counterparts announced Thursday they would act in concert to lend US dollars to banks facing a shortage of the American currency. The move sent European stocks soaring and helped Wall Street stay in positive territory for the fourth day in a row, with the Dow Jones Industrial Average closing up 1.66 percent at 11,433.18. Asian shares followed the lead. Japan\'s Nikkei jumped 1.94 percent in the afternoon. The index could rise on temporary relief after the central banks\' pledge, said Hideyuki Ishiguro, a strategist at Okasan Securities. But the fundamental debt issue in Europe remains unresolved and could lead to some profit-taking later in the day ahead of a three-day weekend in Japan, he told Dow Jones Newswires. Hong Kong shares also got off to a strong start. The Hang Seng Index rose 2.14 percent by the break and South Korea\'s benchmark KOSPI index soared 3.35 percent in afternoon trading. In Australia, the market was trading up 1.94 percent in the afternoon, while the broader All Ordinaries was up 1.85 percent. But the European debt crisis is still weighing on investors, Commsec market analyst Steven Daghlian said. \"Even when you take into account the gains we\'ve seen over the past couple of days in Australia, the All Ords Index is still down about 14 percent this year and we lost about five percent in September, so we still have a long way to go,\" Daghlian said. The euro held on to gains it had clocked up in New York late on Thursday after plunging earlier this week. It was fetching $1.3859 in early Asian trade, compared with $1.3882 late Thursday in New York where the common European currency jumped after the move to aid Europe\'s struggling banks. The euro also stood at 106.44 yen from 106.40 yen in New York. In Asia on Thursday the common currency had been sitting at $1.3720 and 105.20 yen, while on Monday it was foundering at around $1.3500 and a 10-year low below 104 yen. Safe haven gold was also losing its lustre as risk appetite picked up. At 0415 GMT, the precious metal was trading at $1,766.90 per ounce. On oil markets New York\'s main contract, light sweet crude for delivery in October, rose five cents to $89.45 in morning trade and Brent North Sea crude for October climbed 14 cents to $112.44.  

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 stocks rally on central bank offensive Arab Today, arab today asian stocks rally on central bank offensive

 



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 As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
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 Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 16:05 2017 Tuesday ,28 February

US. Stocks Close Mixed

GMT 15:45 2017 Tuesday ,28 February

US Stocks Close Higher with Dow Hits 12th Record High

GMT 09:45 2017 Tuesday ,28 February

China shuts down $7.3bn illegal forex operation

GMT 06:07 2017 Tuesday ,28 February

LSE, Deutsche Boerse deal in jeopardy
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
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 Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

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 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

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 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

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