African leaders gather in Aswan to navigate global shifts and continental progress    Egypt's FM joins Sahel region roundtable at Aswan Forum    Egypt's Public Enterprise Minister discusses tourism projects with TMG    Egypt successfully hosts Egyptian Amateur Open golf championship with 19-nation turnout    Africa can lead global recovery, Egypt's Sisi tells Aswan Forum    Egypt, WHO sign 2024-2028 country cooperation strategy    From Impression to Analysis: What International Performance Indicators Reveal about Egypt    Supply Minister: No change in subsidised bread price amid diesel hike    Egypt to launch new export system to streamline trade, boost competitiveness    Health ministers adopt 'Cairo Call to Action' to tackle breast cancer across Eastern Mediterranean    Al-Sisi reviews Cairo Airport's new terminal project designed to handle 30 million passengers annually    Egypt's Al-Mashat discusses MIGA portfolio, second EU assistance tranche with officials    Pakistan says preemptive strikes thwarted planned militant attacks from Afghanistan    Egypt, India hold first strategic dialogue to deepen ties    Egypt: Guardian of Heritage, Waiting for the World's Conscience    Egypt, Qatar sign MoU to boost cooperation in healthcare, food safety    Egypt, UK, Palestine explore financing options for Gaza reconstruction ahead of Cairo conference    Egypt will never relinquish historical Nile water rights, PM says    Egypt explores cooperation with Chinese firms to advance robotic surgery    AUC makes history as 1st global host of IMMAA 2025    Al Ismaelia launches award-winning 'TamaraHaus' in Downtown Cairo revival    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths one of largest New Kingdom Fortresses in North Sinai    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Egypt Writes Calm Anew: How Cairo Engineered the Ceasefire in Gaza    Egypt's acting environment minister heads to Abu Dhabi for IUCN Global Nature Summit    Egyptian Open Amateur Golf Championship 2025 to see record participation    Cairo's Al-Fustat Hills Park nears completion as Middle East's largest green hub – PM    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt reviews Nile water inflows as minister warns of impact of encroachments on Rosetta Branch    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Asia markets trade higher despite Wall Street's tepid session
Published in Amwal Al Ghad on 24 - 04 - 2018

Asian markets mostly rose in morning trade on Tuesday despite the Dow and the Nasdaq stumbling amid a decline in tech shares, according to CNBC.
In Australia, the ASX 200 climbed 0.39 percent, with most sectors notching gains. The heavily weighted financial sector gained 0.86 percent as major banking names in the country rose.
Shares of ANZ were up 0.59 percent, Commonwealth Bank was up 1.22 percent, Westpac was higher by 1.28 percent and the National Australia Bank added 0.97 percent.
Major miners in Australia, however, were down — Rio Tinto shares fell 1.98 percent, Fortescue was lower by 3.31 percent and BHP Billiton lost 0.35 percent.
Japan's Nikkei 225 was up 0.67 percent while the Topix index gained 0.73 percent. Across the Korean Strait, the Kospi fell 0.22 percent. In Hong Kong, the Hang Seng index rose 0.96 percent.
Chinese mainland shares were also higher; the Shanghai composite was up 1.4 percent and the Shenzhen composite added 1.01 percent.
Analysts at Singapore's OCBC bank wrote in a morning note that market sentiment overnight was affected by "multiple factors including higher yields, mixed earnings, still solid U.S. growth data and eased sanctions on Russian aluminum producer Rusal."
Further strength in the U.S. dollar also marked the overnight session, according to David de Garis, director for economics and markets at the National Australia Bank.
"The dollar has been on a further tear, taking up in Europe where the trading mood ended last week," he wrote in a morning note.
The dollar index, which measures the greenback against a basket of currencies, traded at 90.997 at 10:04 a.m. HK/SIN, up from levels below 89.500 in the previous week.
The index had "been testing its highs for this year seen in the earlier part of January," de Garis said. "It's been a yield driven story, with rises in U.S. yields along the curve."
He added that the market was pricing toward three rate hikes from the U.S. Federal Reserve this year.
In currency pairs, the Japanese yen traded at 108.8 to the dollar, and the Australian dollar fetched $0.7602 as of 10:04 a.m. HK/SIN, declining from levels above $0.777 in the previous week.
Elsewhere, oil prices rose during the Asian session on Tuesday, with U.S. crude climbing 0.38 percent to $69.9 a barrel. Global benchmark Brent was up 0.27 percent at $74.91.
"Crude prices are now sitting at the highest levels in three years, reflecting ongoing concerns around geopolitical tensions in the Middle East, which is the source of nearly half of the world's oil supply," Giulia Specchia from ANZ Research wrote in a morning note.
Higher energy prices were also supported by a decline in inventories at the Cushing, Oklahoma storage hub for U.S. crude, according to Reuters.


Clic here to read the story from its source.