asian traders on edge ahead of key us healthcare vote
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 traders on edge ahead of key US healthcare vote

Arab Today, arab today

Arab Today, arab today Asian traders on edge ahead of key US healthcare vote

President Donald Trump is struggling to garner support to push through his Obamacare repeal
Hong Kong - AFP

Asian markets tentatively rose Friday as they look to a delayed vote on US healthcare reform whose passage is seen as crucial to the future of Donald Trump's growth-drive agenda.

The four-month rally in global stocks came to a juddering halt this week as the new president struggled to garner enough support from his own Republican party for a bill repealing Obamacare.

There are fears the bill's failure would throw a spanner in the works for his other big-ticket pledges on infrastructure spending, tax cuts and deregulation -- key drivers of the markets' surge.

However, a vote on the reforms pencilled in for Thursday was put back a day, with the White House saying it would definitely pass.

The administration gave lawmakers an ultimatum Thursday, warning that if the bill failed then Obamacare -- which Republicans have vilified since its inception seven years ago -- would stay in place and Trump would move on to the rest of his agenda.

Greg McKenna, chief market strategist at CFD and FX provider AxiTrader, said the bill's success would be a major positive for Trump, who is struggling with a fractious Republican party, controversy over alleged links to Russia and record low popularity ratings.

And Toshihiko Matsuno, head of investment information at SMBC Friend Securities, told AFP: "Even though the vote was delayed, the fact that it will take place Friday probably means the Republican plan will pass."

However, McKenna added: "If it fails then the whole house of cards that's been built up since the election can come crashing down as traders and investors wonder what the heck will happen to tax and infrastructure plans."

Tokyo ended 0.9 percent higher, with exporters lifted by a weaker yen against the dollar, having advanced on the US unit all week.

The greenback fell below 111 yen briefly on Thursday but bought 111.42 yen in Asian trade -- though it is well down from the mid-113 yen range seen last Friday.

It also rose against the euro and sterling as well as most high-yielding currencies that have enjoyed a rally since the Federal Reserve last week indicated a slower-than-expected pace of interest rate hikes.

Hong Kong added 0.1 percent, Sydney was up 0.8 percent and Shanghai closed 0.6 percent higher while Singapore and Wellington were also stronger. But Seoul slipped 0.2 percent and Taipei shed 0.3 percent.

In early European trade London was flat, Frankfurt slipped 0.4 percent and Paris lost 0.1 percent.

- Key figures around 0800 GMT -

Tokyo - Nikkei 225: UP 0.9 percent at 19,262.53 (close)

Hong Kong - Hang Seng: UP 0.1 percent at 24,358.27 (close)

Shanghai - Composite: UP 0.6 percent at 3,269.45 (close)

London - FTSE 100: FLAT at 7,338.06

Euro/dollar: DOWN at $1.0766 from $1.0791

Pound/dollar: DOWN at $1.2477 from $1.2524

Dollar/yen: UP at 111.42 yen from 110.98 yen

Oil - West Texas Intermediate: UP 15 cents at $47.85 per barrel

Oil - Brent North Sea: UP 11 cents at $50.67 per barrel

New York - Dow: FLAT at 20,656.58 (close)

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 traders on edge ahead of key us healthcare vote asian traders on edge ahead of key us healthcare vote

 



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 traders on edge ahead of key us healthcare vote asian traders on edge ahead of key us healthcare vote

 



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