Popular Posts Last 7 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 30 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last year_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts All time_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Islamophobia_$type=carousel$h=350$show=/search/label/Muslim%20World

Saudi Arabia$type=two$count=2$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Iran_$type=three$count=3$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Palestine$type=three$author=hide$comment=hide$rm=hide$date=hide$show=/search/label/Muslim%20World

Asian markets struggle, but dollar rally lifts Tokyo

SHARE:

HONG KONG - The dollar barrelled ever higher Thursday, sitting at an eight-month high against the yen and fuelling another rally in Tokyo stocks but most other markets turned negative on profit-taking.

US investors gave their Asian colleagues another strong lead with the Dow hitting a new record on Wall Street after fresh data showed further improvement in the US economy and reinforced expectations for an interest rate hike next month.


Global markets have largely been piling higher since Donald Trump's shock election win two weeks ago, with traders betting his big spending, high tax plans will bolster an already healthy economy.

However, there are concerns among emerging market governments that his threats to tear up global trade deals could lead to an era of protectionism and throw up huge US tariffs.

?There?s a favourable bias to equities, given the expectations post Trump?s election that US growth will pick up as a result of more fiscal spending and a reduction in corporate tax rates,? Chris Green, director of economics and strategy at First NZ Capital Group in Auckland, told Bloomberg News.

The near certainty that Trump's policies will fuel inflation, forcing the Federal Reserve to lift rates, has pushed the dollar higher.

On Thursday it headed towards the 113 yen mark for the first time since April -- touching 112.97 yen before easing -- while it was also sharply up against most other units.

The tumbling yen lifted exporters on Tokyo's Nikkei index, which was 1.1 percent higher as it reopened after a day's holiday.

- 'Great shape' -

But elsewhere traders were less enthusiastic to extend recent gains. Hong Kong fell 0.4 percent, Sydney lost 0.1 percent and Seoul was off 0.7 percent. Singapore shed 0.2 percent and Taipei slipped 0.1 percent. Shanghai was 0.1 percent higher.

Minutes from the Federal Reserve policy meeting this month showed most board members thought a rate hike would be appropriate "relatively soon". And those thoughts were backed up by figures showing a surge in durable goods orders.

"The US economy is showing all the signs of being in great shape even before the addition of any Trump stimulus," AxiTrader chief market strategist Greg McKenna said in a note.

High-yielding Asia-Pacific currencies took a beating as investors removed their cash to seek out better returns in the US. South Korea's won fell 0.5 percent and the Australian dollar slipped 0.7 percent while there were also sharp losses for the Indonesian rupiah, Thai baht, New Zealand dollar and Malaysian ringgit.

The greenback broke above 50 Philippine pesos for the first time since 2008 at the height of the financial crisis.

Oil prices were mixed owing to the strong dollar and unease about the chances of success for a deal within OPEC and with Russia on cutting output, with less than a week until its twice-yearly meeting.

Gold was also taking a beating, sinking more than two percent to nine-month lows around $1,185 as it succumbs to a flight from safe-haven assets.

- Key figures around 0400 GMT -

Tokyo - Nikkei 225: UP 1.1 percent at 18,361.50

Hong Kong - Hang Seng: DOWN 0.4 percent at 22597.88 (break)

Shanghai - Composite: UP 0.1 percent at 3,244.21 (break)

Euro/dollar: DOWN at $1.0536 from $1.0551 Wednesday

Dollar/yen: UP at 112.70 yen from 112.48 yen

Pound/dollar: DOWN at $1.2432 from $1.2438

Oil - West Texas Intermediate: FLAT at $47.96 a barrel

Oil - Brent North Sea: DOWN three cents at $48.92

New York - Dow: UP 0.3 percent at 19,083.18 (close)

London - FTSE 100: DOWN less than 0.1 percent at 6,817.71 (close)

COMMENTS

Name

Ads,5,Afghanistan,75,Africa,26,Americas,5,Animals,36,Argentina,1,Asia,235,Australia,11,Austria,5,Bahrain,2,Bangladesh,18,Barcelona,1,Belgium,3,Brunei,1,Business,1300,Canada,4,Catalan,80,China,118,Cuba,3,Czech Republic,3,DR Congo,1,Egypt,22,Ethiopia,1,Europe,237,Fitness,14,France,26,Germany,37,Headlines,11,Health,169,Hillary Clinton,199,Hong Kong,2,Hungary,1,Iceland,1,India,104,Indonesia,9,International,75,Iran,77,Iraq,77,Ireland,2,Islamophobia,19,Israel,10,Italy,3,Japan,36,Jordan,1,Kenya,7,Kosovo,1,Kuwait,3,Lebanon,2,Libya,2,Lifestyle,302,Lithuania,1,Malawi,1,Malaysia,15,Malta,1,Maxico,3,Middle East,127,Muslim World,598,Myanmar,35,Nawaz Sharif,5,Nepal,3,Netherlands,2,New Zealand,9,Niger,1,Nigeria,2,Nobel Prize,81,North Korea,53,Norway,1,Opinion,26,Pakistan,1036,Palestine,36,Philippine,16,Pics,66,Poland,3,Popular,1,Qatar,93,Rohingya,118,Russia,45,Rwanda,1,Saudi Arabia,83,Science,144,Serbia,2,Showbiz,350,Somalia,4,South Africa,1,South Korea,7,Spain,60,Sports,1311,Sudan,1,Sweden,1,Switzerland,2,Syria,112,Taiwan,2,Technology,449,Thailand,5,Today IN History,24,Top News,994,Tunisia,1,Turkey,77,U.S.,301,UAE,21,UK,51,Ukrain,2,Venezuela,4,Videos,75,Vietnam,2,World,4824,Yemen,21,Zimbabwe,2,
ltr
item
Muslim Global: Asian markets struggle, but dollar rally lifts Tokyo
Asian markets struggle, but dollar rally lifts Tokyo
https://4.bp.blogspot.com/-MIKsMObPZAU/WDaPr0NzJQI/AAAAAAAAVOU/bX5rGKFrnrc7zKp5qcPgjd9HYCRbeKBzgCLcB/s640/japan%2Bmarket.jpg
https://4.bp.blogspot.com/-MIKsMObPZAU/WDaPr0NzJQI/AAAAAAAAVOU/bX5rGKFrnrc7zKp5qcPgjd9HYCRbeKBzgCLcB/s72-c/japan%2Bmarket.jpg
Muslim Global
http://www.muslimglobal.com/2016/11/asian-markets-struggle-but-dollar-rally.html
http://www.muslimglobal.com/
http://www.muslimglobal.com/
http://www.muslimglobal.com/2016/11/asian-markets-struggle-but-dollar-rally.html
true
616431133175714168
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy