Arab Today, arab today trade deal easy monetary policy boost asia stocks
Last Updated : GMT 06:15:24
Arab Today, arab today
Arab Today, arab today

Trade deal, easy monetary policy boost Asia stocks

Arab Today, arab today

Arab Today, arab today Trade deal, easy monetary policy boost Asia stocks

Newly sealed Pacific-wide free-trade agreement
Hong Kong - AFP

Newly sealed Pacific-wide free-trade agreement and hopes major central banks will maintain extra-loose monetary policies fired another rally in Asian markets on Tuesday, tracking advances in Europe and New York.

The dollar was also lower against emerging markets currencies as analysts said last week's disappointing US jobs report all but put a nail in the coffin of a Federal Reserve interest rate hike this year.

In Hong Kong shares in mining giant Glencore added to the previous day's surge following reports it is in talks to sell its agriculture business as it battles weakening demand for raw materials.

But the main focus was on the Trans-Pacific Partnership, which will see the easing of a number of barriers, including to Japan's closeted farm sector and the US car market.

After five years, trade representatives from 12 nations on the Pacific Rim said Monday they had finally hammered out a deal to create the world's biggest free trade area -- encompassing 40 percent of the world economy.

It earned a strong endorsement from International Monetary Fund chief Christine Lagarde, who said it was "not only important because of the size... it also pushes the frontier of trade and investment in goods and services to new areas where gains can be significant".

Analysts said the news would boost stocks in the region, adding to an already upbeat mood among investors.

Toshihiko Matsuno, chief strategist at SMBC Friend Securities Co. in Tokyo, told Bloomberg News the TPP "has a lot of potential to become a big deal for the US and Japan.

"Concerns over the global economy had become ingrained in the market's mindset. It's possible that the TPP has triggered some regret over having sold too much."

- Dollar weakness -

Confidence on Asia's trading floors was already buoyant after Friday's below-forecast US jobs numbers, which raised fears that the recent turmoil in global economies was filtering through to the world's biggest.

The report also muddied the waters for the Fed as it considers raising rates, with many experts saying its timeline for a hike before 2016 has likely been scuttled.

Japan's central bank holds a two-day policy meeting from Tuesday, with speculation it will widen its already vast stimulus programme to try to reinvigorate the struggling economy, while its European counterpart is also considering further easing.

"Markets continue to believe that weak data will pressure central banks in Europe and Japan to provide more stimulus and will delay the US Fed in its pursuit to begin withdrawing monetary stimulus," Matthew Sherwood, head of investment strategy at Perpetual Ltd. in Sydney said in a note to clients.

This "continues to have investors believe that asset prices can defy the weak growth environment".

With the likelihood of a US rate rise receding the dollar weakened against higher-yielding, or riskier, units.

The Indonesia's rupiah surged more than two percent against the greenback, while South Korea's won was up 0.78 percent and the Australian dollar was  0.10 percent higher.

The Indian rupee, Taiwan dollar and Malaysian ringgit were also up.

Equity markets advanced as risk-aversion eased.

Tokyo was 1.30 percent higher, Sydney gained 0.85 percent and Seoul was 0.80 percent up. Shanghai was closed for a public holiday.

Hong Kong added 0.58 percent, with Glencore 10 percent higher. The firm added 17.76 percent Monday -- having soared more than 70 percent at one point -- on reports of the sale of its agribusiness.

Singapore's sovereign wealth fund, Japanese trading house Mitsui & Co., and a Canadian pension fund are among potential buyers of the unit, Bloomberg News reported last week.

The agricultural unit could be worth $10 billion, according to research cited by Bloomberg News.

Shares in the Swiss-based firm swung wildly last week on fears that sinking commodity prices -- caused by a growth slowdown in key market China -- would affect its ability to meet outstanding debt obligations.

arabstoday
arabstoday

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

GMT 11:06 2017 Thursday ,12 October

Wall Street ends at fresh records; Spanish stocks gain

GMT 21:13 2017 Wednesday ,11 October

Bahrain Bourse daily trading report (update)
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 trade deal easy monetary policy boost asia stocks Arab Today, arab today trade deal easy monetary policy boost asia stocks

 



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 trade deal easy monetary policy boost asia stocks Arab Today, arab today trade deal easy monetary policy boost asia stocks

 



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 Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
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 Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
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 Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
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 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 Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

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 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

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