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

Japanese shares scale two year peak on auto rally; dollar slips

SHARE:

People walk past an electronic board showing exchange rate between Japanese Yen and U.S. Dollar outside a brokerage at a business district in Tokyo, Japan August 9, 2017.

SYDNEY - Japanese shares climbed on Wednesday led by auto stocks as U.S. demand for cars ballooned following damage from recent hurricanes, while the dollar traded cautiously amid speculation over the next head of the Federal Reserve.

Across Asia this week, trade has been generally subdued and volumes thin with China and South Korea closed for week-long holidays and analysts cautioning against reading too much into index moves.

Japan's Nikkei climbed to the highest since August 2015 to 20,669.86 points, aided by strong gains in Toyota Motor and Mazda Motor Corp.

The rise follows buoyant U.S. shares, with the three major stock indices on Wall Street closing at record highs on Tuesday, driven by expectations of strong global growth.

Car sales in the world’s biggest economy surged at the fastest rate in 12 years with the annual rate for all light vehicles at 18.57 million units in September, up from 16.14 million the previous month.

Replacing cars in hurricane-hit parts of Texas and Florida will boost new and used auto sales through at least November, according to industry consultants.


That will hoist retail sales, adding to the country’s gross domestic product and more than offsetting the drag from damage done by the hurricanes, analysts said.

General Motors leapt to the highest on record while Ford rose to a more than six month peak. Since Hurricane Harvey made landfall, GM stock has risen 24 percent and Ford is up 16 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was steady following three consecutive days of gains.

Australian shares skidded as a drop in oil prices dented energy-related stocks. The S&P/ASX 200 index was down 33.242 points, or 0.6 percent, to 5,668.2 by 0043 GMT.

The foreign exchange market is at a crossroad with uncertainty over the likely successor of Fed Chair Janet Yellen whose term ends in February. Fed Governor Jerome Powell has joined the race for the job alongside his predecessor Kevin Warsh.

“The market is still seeing Warsh as a favorite but the odds for Powell have improved. Powell is perceived as being a relatively dovish choice compared to Warsh,” said Ray Attrill, Sydney-based global co-head of forex strategy at NAB.

As a result, Treasury yields headed lower to 2.3320 percent from a three-month peak of 2.3710.

The dollar eased 0.2 percent on the yen to 111.61. The dollar index .DXY, which tracks the greenback against a basket of six major currencies, slipped 0.15 percent to 93.429.

Elsewhere, investors remained cautious over Catalonia’s vote to separate from Spain with the region’s secessionist leader saying he would declare independence “in a matter of days”.

“This was a risk that we highlighted on Monday,” analysts at Citi wrote in a note.

“The Constitutional Court is likely to challenge and rule against such a motion. If the Catalan government ignores the ruling, then Madrid is likely to trigger article 155 of the Constitution to strip out Catalonia’s autonomy and to call for regional elections.”

Catalans had come out in hordes to vote for independence on Sunday in a referendum that was declared illegal by Spain’s central government.

The move has thrown Spain into its worst constitutional crisis in decades and raised fears of street violence as a test of will between Madrid and Barcelona plays out.

In commodities, U.S. crude CLc1 dipped 0.73 percent at $50.05 a barrel. Brent crude LCOc1 fell to $55.65 per barrel. Gold was slightly higher with spot gold XAU= at $1274.17 per ounce.

COMMENTS

Name

Ads,5,Afghanistan,75,Africa,24,Americas,5,Animals,36,Argentina,1,Asia,226,Australia,11,Austria,4,Bahrain,2,Bangladesh,18,Barcelona,1,Belgium,3,Brunei,1,Business,1279,Canada,3,Catalan,80,China,116,Cuba,3,Czech Republic,3,DR Congo,1,Egypt,21,Ethiopia,1,Europe,229,Fitness,14,France,25,Germany,37,Headlines,11,Health,168,Hillary Clinton,199,Hong Kong,2,Hungary,1,Iceland,1,India,103,Indonesia,9,International,75,Iran,77,Iraq,75,Ireland,2,Islamophobia,19,Israel,10,Italy,3,Japan,36,Jordan,1,Kenya,5,Kosovo,1,Kuwait,3,Lebanon,2,Libya,2,Lifestyle,302,Lithuania,1,Malawi,1,Malaysia,15,Malta,1,Maxico,3,Middle East,121,Muslim World,589,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,1033,Palestine,35,Philippine,14,Pics,66,Poland,2,Popular,1,Qatar,93,Rohingya,118,Russia,42,Rwanda,1,Saudi Arabia,82,Science,144,Serbia,2,Showbiz,350,Somalia,4,South Africa,1,South Korea,7,Spain,55,Sports,1309,Sudan,1,Sweden,1,Switzerland,2,Syria,109,Taiwan,2,Technology,444,Thailand,4,Today IN History,24,Top News,991,Tunisia,1,Turkey,76,U.S.,293,UAE,21,UK,50,Ukrain,2,Venezuela,4,Videos,75,Vietnam,2,World,4788,Yemen,21,Zimbabwe,2,
ltr
item
Muslim Global: Japanese shares scale two year peak on auto rally; dollar slips
Japanese shares scale two year peak on auto rally; dollar slips
Japanese shares climbed on Wednesday led by auto stocks as U.S. demand for cars ballooned following damage from recent hurricanes, while the dollar traded cautiously amid speculation over the next head of the Federal Reserve.
https://2.bp.blogspot.com/-ha8XxnLIXdQ/WdRTxy--NkI/AAAAAAAAivY/K0fkBPexnOkElNPcz39-5KjM-pa80w41wCLcBGAs/s640/People%2Bwalk%2Bpast%2Ban%2Belectronic%2Bboard%2Bshowing%2Bexchange%2Brate%2Bbetween%2BJapanese%2BYen%2Band%2BU.S.%2BDollar%2Boutside%2Ba%2Bbrokerage%2Bat%2Ba%2Bbusiness%2Bdistrict%2Bin%2BTokyo.jpg
https://2.bp.blogspot.com/-ha8XxnLIXdQ/WdRTxy--NkI/AAAAAAAAivY/K0fkBPexnOkElNPcz39-5KjM-pa80w41wCLcBGAs/s72-c/People%2Bwalk%2Bpast%2Ban%2Belectronic%2Bboard%2Bshowing%2Bexchange%2Brate%2Bbetween%2BJapanese%2BYen%2Band%2BU.S.%2BDollar%2Boutside%2Ba%2Bbrokerage%2Bat%2Ba%2Bbusiness%2Bdistrict%2Bin%2BTokyo.jpg
Muslim Global
http://www.muslimglobal.com/2017/10/japanese-shares-scale-two-year-peak-on.html
http://www.muslimglobal.com/
http://www.muslimglobal.com/
http://www.muslimglobal.com/2017/10/japanese-shares-scale-two-year-peak-on.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