The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Dividend AnnouncementsYesterday at 7:19 pmAjithR
Tokyo CementYesterday at 9:42 amRajapaksap
Insider Dealings Fri Nov 20, 2020 2:30 ampjrngroup
UML United MotorsTue Nov 10, 2020 8:50 amThe Invisible
ExpolankaMon Nov 09, 2020 8:46 pmsmallville
Plantation Sector UpdatesSat Nov 07, 2020 8:15 amRajapaksap
HAYC - HaycarbFri Nov 06, 2020 12:11 pmsubash
LWL.N0000 (Lanka Walltiles PLC)Fri Oct 16, 2020 12:50 amsubash
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
Trading Journal Tue Sep 15, 2020 10:37 pmThe Invisible
AEL Access EngineeringTue Sep 15, 2020 7:24 pmsmallville
CFVF - First CapitalWed Sep 09, 2020 9:42 pmWonderer
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
sashimaal
sashimaal
Top contributor
Top contributor
Posts : 5785
Join date : 2014-02-28

Asian stocks at 1-1/2 year highs on robust Wall St; dollar retreats Empty Asian stocks at 1-1/2 year highs on robust Wall St; dollar retreats

on Thu Feb 16, 2017 8:25 pm
Message reputation : 100% (2 votes)
Author LBO

HONG KONG, Feb 16 (Reuters) – Asian stocks edged up to fresh 19-month highs on Thursday, helped by an extended rally on Wall Street and strong U.S. data though the dollar stepped back after a recent bounce.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, rising to its highest since July 2015. It is up by a tenth so far this year partly underpinned by more optimistic earnings expectations and a gradual unwinding of bearish emerging market bets.

Australian stocks advanced 0.4 percent in early deals with looming jobs data the key event risk on the day. A strong showing would set the market up for further gains with technical indicators helping.

“The index has now closed above the key technical resistance level at 5,800 which is a bullish sign opening up further gains in the coming months back towards 6,000,” said James Woods, global investment analyst at Rivkin Securities in Sydney.

The Australian employment data is due at 00:30 GMT with market expectations centering around 10,000 jobs being created.

Wall Street pushed further into record-high territory on Wednesday, with the S&P 500 notching a seven-session winning streak, helped by robust economic data and optimism that President Donald Trump will cut corporate taxes.

That optimism was not shared in the currency markets with the dollar’s recent bounce running out of steam as investors took profits even as fresh data showed a pick up in inflationary pressures.

U.S. consumer prices recorded their biggest increase in nearly four years in January, backing expectations for the Federal Reserve to raise interest rates at a steady pace over the course of the year.

Fed Chair Janet Yellen, in her second day of economic testimony before Congress, offered no additional insight on the timing of the central bank’s next rate hike after her comments a day earlier had hinted at a fairly hawkish policy stance.

Traders may also be leaning towards a rate increase delayed beyond the Fed’s March meeting, with the futures markets only pricing a 27 percent chance of a tightening next month.

The dollar index, which measures the currency against a trade-weighted basket of six major peers, slipped to 101.02. It rallied to a one-month high of 101.76 on Wednesday.

In commodity markets, oil prices softened as record high U.S. crude and gasoline inventories fed concerns about a global glut. U.S. crude was down 0.15 percent at $53.03 a barrel and Brent was flat at $55.75 a barrel
Back to top
Permissions in this forum:
You cannot reply to topics in this forum