dollar builds on gains but asia markets struggle to wall st
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Dollar builds on gains but Asia markets struggle to Wall St

Arab Today, arab today

Arab Today, arab today Dollar builds on gains but Asia markets struggle to Wall St

President Donald Trump
Hong Kong - AFP

The dollar pressed on with its recovery against the yen on rekindled hopes for Donald Trump's tax plan, lifting Japanese stocks for a fourth day but most other Asian markets struggled to build on the week's gains.

Wall Street provided another positive lead with a second-straight record for all three main indexes after Republicans set a September 25 target for releasing a plan to slash taxes while surging oil prices boosted energy firms.

The announcement out of Washington fanned optimism the president's market-friendly agenda to boost the economy could see the light of day.

World markets soared for months after Trump's November election win on hopes for such reforms but his struggles to push through any major legislation since taking office, as well as a series of controversies, have forced him to put his plans on the backburner.

Greg McKenna, chief market strategist at AxiTrader said there was confidence among traders that the US economy would continue to grow either moderately or power ahead.

This, he added, "raises chances that President Trump reaching across the aisle will activate a mechanism to get tax cuts -- perhaps even tax reform -- done".

Investors were last week surprised when the tycoon reached a deal with Democrats to raise the US debt limit and avert a government shut-down, fanning hopes he can strike further agreements in future.

The greenback bounced back above 110 yen, having fallen last week to a 10-month low around 107.30 yen on worries about North Korea's missile and nuclear tests.

In Asian trade it extended gains against the Japanese unit, while it was also building on a rally against the euro.

The single currency was stuck below $1.19 Thursday, having flirted with $1.21 just a week ago.

Equity markets, however, were unable to maintain momentum as investors took profits from a healthy start to the week that came on the back of relief that North Korea tensions had eased and Hurricane Irma had not been as devastating to Florida as feared.

By the break, Tokyo's Nikkei was flat after climbing for three straight days as the softening yen was unable to fend off profit-takers.

Hong Kong slipped 0.2 percent and Shanghai pared early gains to sit flat after a disappointing print on Chinese factory production, retail sales and state investment.

Sydney and Singapore each eased 0.1 percent and Seoul was flat. Wellington, Jakarta and Taipei were slightly higher.

- Key figures around 0230 GMT - 

Tokyo - Nikkei 225: FLAT at 19,873.62 (break)

Hong Kong - Hang Seng: DOWN 0.2 percent at 27,789.05

Shanghai - Composite: FLAT at 3,383.77

Euro/dollar: DOWN at $1.1877 from $1.1885 at 2100 GMT

Dollar/yen: UP at 110.62 yen from 110.47 yen

Pound/dollar: DOWN at $1.3206 from $1.3208

Oil - West Texas Intermediate: DOWN six at $49.24 per barrel

Oil - Brent North Sea: DOWN 12 cents at $55.04

New York - DOW: UP 0.2 percent at 22,158.18 (close)

London - FTSE 100: DOWN 0.3 percent at 7,379.70 (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 builds on gains but asia markets struggle to wall st dollar builds on gains but asia markets struggle to wall st

 



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 builds on gains but asia markets struggle to wall st dollar builds on gains but asia markets struggle to wall st

 



GMT 06:49 2012 Saturday ,01 September

Lamitta Frangieh on her \'Facebook Romance\'

GMT 08:26 2017 Wednesday ,08 February

Qatar spending $500m a week on World Cup projects

GMT 17:00 2017 Tuesday ,27 June

Saudi Arabia rebuts fake news on Turkey, Israel

GMT 10:31 2016 Monday ,12 December

Second Sydney airport cleared for take off

GMT 05:27 2017 Sunday ,16 April

GIB Capital wins 4 EMEA Finance Awards

GMT 13:58 2016 Friday ,30 December

Australia beat Pakistan to win Test series

GMT 10:07 2017 Monday ,17 April

Mark Hamill would like to play George Lucas

GMT 12:10 2016 Tuesday ,13 December

Over 30 dead as Kenya tanker crashes, explodes

GMT 02:13 2017 Monday ,25 September

December22nd-January20th

GMT 15:39 2017 Tuesday ,03 October

Bangladesh rescues 20 Rohingya held by racket gang

GMT 02:51 2017 Friday ,10 November

Under siege, Syria doctors forced to improvise care

GMT 12:18 2015 Tuesday ,14 July

Russia sack Capello as national team coach

GMT 16:07 2017 Saturday ,26 August

ISIS Claims Attack on Shiite Mosque in Afghanistan

GMT 13:47 2017 Monday ,27 February

China blue chips post worst day in 2 months

GMT 02:56 2017 Tuesday ,25 July

President Jokowi performs Eid Prayers in Padang

GMT 16:21 2017 Tuesday ,03 October

Sisi greets Guinea on independence anniversary

GMT 04:18 2017 Saturday ,16 September

Kim and Kanye expecting third baby via surrogate
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