japan’s nikkei surges but most of asia unable to extend gains
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Japan’s Nikkei surges but most of Asia unable to extend gains

Arab Today, arab today

Arab Today, arab today Japan’s Nikkei surges but most of Asia unable to extend gains

Japanese traders returned from a three-day weekend to play catch-up with a global rally
Hong Kong - AFP

Japanese stocks soared Tuesday on a weak yen as the dollar was lifted by expected monetary tightening and renewed hopes for Donald Trump’s economic agenda, but most other Asian markets retreated after recent gains.

Equities had rallied Monday as investors turned their attention to macro issues, particularly a Federal Reserve policy meeting and Trump’s maiden speech to the UN General Assembly.

While the US central bank is not expected to raise interest rates this week, remarks from the Fed and its boss Janet Yellen will be pored over for clues about future moves — with talk of another rise — and its plans to wind down the vast bond-buying stimulus put in place during the financial crisis.

Analysts said that despite the expected tightening, investors were again optimistic that Trump can push through the market-friendly policies that helped drive a global rally at the start of the year.

“We are not overly concerned about (tighening)”, Merrill Lynch and US Trust head of fixed-income strategy Matthew Diczok told Bloomberg Television.

“If you model it out, over about the next three years they’ll take out about $1.3 trillion or so. That’s only a third of what they put into the market. So it’s going to be a very slow, very gradual, very deliberate and it shouldn’t lead to any near-term fireworks into the market at all.”

After the selling earlier this month fuelled by North Korea’s nuclear test, traders returned to buying ways. On Monday global markets ended mostly up, with the S&P 500 and Dow on Wall Street each hitting fresh highs.

“The surge was yet another testament that the reinvigoration of the Trump trades is gaining traction,” Greg McKenna, chief market strategist at AxiTrader, said.

“Recent happenings have seen Trump’s leadership change and it is clear markets are seeing that,” he added.

Japanese dealers returned from a three-day weekend Tuesday and picked up the baton, sending the Nikkei two percent higher with exporters buoyed by the dollar’s push towards 112 yen.

However, elsewhere in the region markets turned lower as traders cashed out.

Hong Kong was down 0.3 percent in the afternoon, Shanghai ended off 0.2 percent, Singapore lost 0.2 percent and Sydney dipped 0.1 percent. Seoul was off 0.1 percent, with Taipei 0.5 percent off and Manila 1.3 percent down.

In early trade London and Paris each dipped 0.1 percent, while Frankfurt was flat.

On forex markets talk of more stringent monetary policy supported the dollar, with the pound rowing back from levels above $1.36 after the head of the Bank of England indicated possible British rate rises could be slow and gradual.

– Key figures around 0720 GMT – 

Tokyo – Nikkei 225: UP 2.0 percent at 20,299.38 (close)

Hong Kong – Hang Seng: DOWN 0.3 percent at 28,070.29

Shanghai – Composite: DOWN 0.2 percent at 3,356.84 (close)

London – FTSE 100: DOWN 0.1 percent at 7,248.47

Euro/dollar: UP at $1.1986 from $1.1954 at 2100 GMT

Dollar/yen: UP at 111.75 yen from 111.56 yen

Pound/dollar: UP at $1.3550 from $1.3501

Oil – West Texas Intermediate: UP eight cents at $49.99

Oil – Brent North Sea: DOWN one cent at $55.47 per barrel

New York – DOW: UP 0.3 percent at 22,331.35 (close)

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*

japan’s nikkei surges but most of asia unable to extend gains japan’s nikkei surges but most of asia unable to extend gains

 



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*

japan’s nikkei surges but most of asia unable to extend gains japan’s nikkei surges but most of asia unable to extend gains

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 04:50 2017 Wednesday ,16 August

Turkey''s Quake Death Toll Rises to 217

GMT 20:59 2017 Saturday ,25 November

Hariri Arrives in Beirut after Talks in Egypt, Cyprus

GMT 08:44 2016 Thursday ,24 November

Turkish army blames Syrian regime for deadly air strike

GMT 09:59 2017 Monday ,07 August

5 reasons you should consider for your getaway

GMT 17:40 2016 Saturday ,24 December

Cyprus revises up economic projections

GMT 11:52 2015 Friday ,06 February

Kerli thanks Estonia for her music

GMT 06:45 2017 Wednesday ,01 February

Trump names Neil Gorsuch as Supreme Court nominee

GMT 12:18 2011 Thursday ,23 June

UK\'s Libya campaign to cost £260 mln

GMT 13:15 2016 Thursday ,15 December

Steve Smith ton puts Australia

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 21:13 2017 Tuesday ,11 July

39 ships transit Suez Canal

GMT 07:01 2017 Wednesday ,08 November

Trump lands in China for talks on trade, North Korea

GMT 19:20 2017 Saturday ,29 July

Al-Nahda is largest private university in Egypt

GMT 06:31 2016 Sunday ,02 October

Palestinian who wounded Israeli guard killed

GMT 17:33 2017 Saturday ,21 January

4 dead, 20 hurt as car rams Melbourne shoppers

GMT 09:01 2018 Saturday ,13 January

New Zealand bat first in third ODI against Pakistan

GMT 12:35 2016 Saturday ,03 September

Jesus story gets virtual reality treatment in Venice

GMT 20:29 2017 Saturday ,04 March

Egypt sends medical, food aid to S.Sudan

GMT 01:29 2017 Sunday ,07 May

Indian success stories abound in Saudi Arabia
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