Thursday, February 23, 2017 6:34:57 PM - Markets closed
VN-INDEX 716.87 -0.37/-0.05%
HNX-INDEX 86.27 -0.35/-0.41%
UPCOM-INDEX 55.48 +0.15/+0.27%
Asian stocks at 1-1/2 year highs on robust Wall Street; dollar retreats
Source: Reuters - 2/16/2017 9:28:49 AM
 (0 ratings. You must sign in to rate.)
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. [.N]

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.

n 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
Newer News
09:16 U.S. oil rises after report shows drop in stockpiles
09:15 Dollar steadies after slipping in knee-jerk reaction to Fed minutes
09:13 Asia stocks ease, dollar steadies after Fed-led losses
22/02 U.S. oil holds near seven-week high; OPEC upbeat on output curbs
22/02 Dollar gains on hawkish Fed comments, European political risk
22/02 Asia up as Wall Street extends record rise, dollar steady
16/02 U.S. retail sales rise; inflation posts largest gain in four years
16/02 Oil reverses course and pulls back after brief rally
Older News
15/02 Oil dips over doubts that high OPEC compliance with announced cuts will last
15/02 Apple, banks push Wall Street to all-time high
15/02 Asian stocks and dollar firmer as Yellen hints at March rate hike
14/02 Dollar treads water as investors await Yellen testimony
14/02 Oil rises on OPEC-led cuts, but market remains range-bound
14/02 Asia shares eke out 19-month high, dollar holds firm
10/02 Oil prices stable on OPEC-led production cuts, but bloated inventories weigh
10/02 Trump tax talk lifts Wall Street to record high
10/02 Asian shares probe 18-month highs, cheered by Trump's tax cut talk
09/02 Dollar sags on lower yields; euro zone risk in focus
 
Newsletter Signup
Top Stories
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
CPI below 5% target
At 6.21 per cent, country’s GDP below govt target
Nov CPI up 0.48 per cent
Market Update
Last updated at 3:01:10 PM
VN-INDEX 716.87 -0.37/-0.05%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.