dollar equities stutter in asia after trump rally
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Brushing off another record Wall Street close

Dollar, equities stutter in Asia after Trump rally

Arab Today, arab today

Arab Today, arab today Dollar, equities stutter in Asia after Trump rally

Tokyo ended 0.5 percent lower as stock markets across Asia stuttered
Tokyo - AFP

The dollar dipped on Thursday in Asia as investors brushed off another record Wall Street close and upbeat US data while the rally in stock markets stuttered.

Another positive assessment of the US economy and reassurance over tax reform from President Donald Trump was not enough to spur further buying in Asia after the past week's rally.

New York's three main indexes built on their recent surge, racking up a fifth successive day of record closes, after figures showed US inflation hit a four-year high in January, fuelling bets on an interest rate hike soon.

Trump said Wednesday he would release specifics on his new tax plan in the "not-too-distant future", adding it will be "good and simpler".

His remarks came less than a week after he promised "phenomenal" reforms to the tax system, spurring a surge in global markets and the dollar.

“The strong numbers highlight that the US economy is in fairly healthy shape,” Greg McKenna, chief market strategist at CFD and FX provider AxiTrader, said in a note.

“The key is the data and president Trump’s recommitment to the release of the tax plan everyone is waiting for,” McKenna said.

Federal Reserve chief Janet Yellen also reiterated her view to Congress that the world's top economy was on a strong growth track, a day after indicating borrowing costs could increase any time soon -- leading to speculation of a move as soon as March.

However, the greenback was unable to push on with its gains and was down against its major peers as well as higher-yielding currencies in the Asia-Pacific such as the Australian dollar and South Korea's won.

In equity trade Tokyo ended 0.5 percent lower as exporters were hit by the stronger yen while Seoul slipped 0.1 percent, Wellington gave up 1.1 percent and Taipei slipped 0.3 percent. Mumbai and Jakarta were also down.

But Hong Kong and Shanghai each ended 0.5 percent higher, reversing morning losses.

Ayako Sera, a Tokyo-based market strategist at Sumitomo Mitsui Trust Bank, told Bloomberg News warned of a possible correction after the past week's performance.

“Can equities sustain this rally from here?” Sera asked. “If the decline today in Japanese shares spill over to European shares and then to New York, things could get serious but we’ll have to see.”

In early European trade London dipped 0.2 percent, Frankfurt shed 0.1 percent and Paris was flat.

- Key figures around 0800 GMT -

Tokyo - Nikkei 225: DOWN 0.5 percent at 19,347.53 (close)

Hong Kong - Hang Seng: UP 0.5 percent at 24,107.70 (close)

Shanghai - Composite: UP 0.5 percent at 3,229.62 (close)

London - FTSE 100: DOWN 0.2 percent at 7,288.84

Euro/dollar: UP at $1.0610 from $1.0602

Pound/dollar: UP at $1.2477 from $1.2459

Dollar/yen: DOWN at 113.94 yen from 114.18 yen

Oil - West Texas Intermediate: DOWN 11 cents at $53.00 per barrel

Oil - Brent North Sea: DOWN seven cents at $55.68

New York - Dow: UP 0.5 percent at 20,611.86 (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*

dollar equities stutter in asia after trump rally dollar equities stutter in asia after trump rally

 



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*

dollar equities stutter in asia after trump rally dollar equities stutter in asia after trump rally

 



GMT 10:10 2017 Thursday ,09 February

3 Important Elements You Have to Consider

GMT 04:03 2017 Monday ,24 April

Bella Hadid ‘dying’ to visit Palestine

GMT 19:25 2016 Wednesday ,25 May

The Brooklyn Desk by Oeuf NYC

GMT 07:49 2018 Friday ,05 January

2 Russian servicemen killed

GMT 07:58 2018 Monday ,01 January

Italy orders N. Korea's envoy to leave

GMT 08:45 2017 Wednesday ,20 December

US military imagines war without GPS

GMT 17:26 2017 Sunday ,17 December

Putin thanks Trump for help in foiling attack plot

GMT 22:19 2017 Monday ,16 October

Cairo-hosted Fatwa conf. new contribution

GMT 02:27 2016 Friday ,10 June

Video hints Japan abetting illegal ivory trade

GMT 07:04 2017 Wednesday ,19 April

1,883 Bahrainis found jobs in March

GMT 14:24 2016 Tuesday ,22 November

Citi and JPMorgan top list of ‘globally banks’

GMT 21:43 2017 Friday ,01 September

People question Nazaruddin`s repatriation expenses

GMT 09:41 2017 Wednesday ,19 April

OIC concerned over violence in Mali

GMT 01:30 2017 Friday ,27 October

May22/Jun21

GMT 05:38 2016 Friday ,30 December

Dubai Airports divert 13 flights due to heavy fog

GMT 11:38 2017 Saturday ,14 January

Mexico names new ambassador to US

GMT 12:03 2017 Wednesday ,22 March

Kuwait to mark World Water Day

GMT 15:00 2017 Wednesday ,27 September

HM King receives invitation from Egyptian President

GMT 02:45 2017 Tuesday ,05 December

President Bashir arrives in Chad

GMT 02:45 2017 Wednesday ,16 August

Turkmen President Visits Pakistan
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