{"id":49591,"date":"2017-10-30T05:44:23","date_gmt":"2017-10-30T05:44:23","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=49591"},"modified":"2017-10-30T05:46:47","modified_gmt":"2017-10-30T05:46:47","slug":"asia-shares-get-technology-boost-crude-near-two-year-top","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/asia-shares-get-technology-boost-crude-near-two-year-top.html","title":{"rendered":"Asia shares get technology boost crude near two year top"},"content":{"rendered":"

Asia shares get technology boost crude near two year top<\/span><\/strong><\/span><\/h2>\n

Asia shares get technology boost crude near two year top: Asian shares climbed on Monday, as technology stocks were bolstered by solid earnings from U.S. tech stalwarts and on strong pre-orders for Apple\u2019s iPhone X, while oil hovered around a 2-year peak on supply fears.<\/span><\/p>\n

Apple Inc (AAPL.O) said pre-orders for the 10th anniversary iPhone X, which started on Friday, were \u201coff the charts\u201d, a blessing for Asian suppliers such as South Korea\u2019s LG Display (034220.KS) and Taiwan Semiconductor Manufacturing Company (2330.TW).<\/span><\/p>\n

Indeed, technology stocks were the top gainers in MSCI\u2019s broadest index of Asia-Pacific shares outside <\/span>Japan .MIAPJ0000PUS, which was up 0.5 percent. Samsung Electronics (005930.KS) led the charts.<\/span><\/p>\n

Energy stocks did well too, with Brent crude LCOc1 at its highest since July 2015 after Saudi Arabia agreed to support the extension of a global oil production cut agreement. [O\/R]<\/span><\/p>\n

Seoul <\/span>shares .KS11 edged up 0.2 percent while Australia’s benchmark index climbed 0.3 percent.<\/span><\/p>\n

Japan’s Nikkei .N225 steadied around the highest since mid-1996, having soared 8 percent in October so far.<\/span><\/p>\n

Global share markets have been on an uptrend since the start of the year, helped by solid corporate earnings and positive economic data across major countries.<\/span><\/p>\n

The world share <\/span>index .MIWD00000PUS has surged 17.6 percent so far in 2017, on track for its best showing since 2013.<\/span><\/p>\n

\u201cThe continuation of quantitative easing (QE) in Europe at a time when Japan remains locked on QE and the U.S. is only tightening gradually highlights that global monetary conditions will remain easy for a long while yet,\u201d said Shane Oliver, head of <\/span>investment strategy at AMP Capital.<\/span><\/p>\n

\u201cThis, along with strong economic growth and earnings, largely explains why global share markets are so strong.\u201d<\/span><\/p>\n

In the United States, Alphabet (GOOGL.O) GOOG.L, Amazon (AMZN.O) and Microsoft (MSFT.O) all jumped last week after solid quarterly performances, sending U.S. indexes higher.<\/span><\/p>\n

Amazon (AMZN.O), up 13.2 percent, was responsible for the biggest boost to the S&P 500 on Friday after reporting a quarterly sales surge. [L2N1N221K]<\/span><\/p>\n

Apple is due to report on Thursday.<\/span><\/p>\n

CURRENCIES<\/span><\/p>\n

The dollar index .DXY was a touch softer, with investors focused on the impending appointment of the Federal Reserve chair, with speculation rife that Fed governor Jerome Powell is the <\/span>favoured suitor.<\/span><\/p>\n

Wagers that Powell – who markets see as a less hawkish candidate – will be the chosen one, tempered the dollar\u2019s advances and dragged 2-year Treasury yields off a nine-year top US2TY=RR. An announcement is expected this week.<\/span><\/p>\n

In Europe, political uncertainty and the European Central Bank\u2019s decision to extend its stimulus further weighed on the common currency, marking its biggest weekly loss of the year.<\/span><\/p>\n

The euro EUR= steadied at $1.1613, not far from $1.1573 which was the lowest since July 20.<\/span><\/p>\n

Spain sacked Catalonia\u2019s regional government on Friday, dissolved the Catalan parliament and called a snap election after Catalonia declared independence from Spain.<\/span><\/p>\n

The ECB\u2019s decision last week to extend its bond purchases into September 2018 also hurt the euro, driving yields on two-year German bunds lower DE2YT=RR.<\/span><\/p>\n

The premium that 2-year U.S. debt pays over 2-year German yields is now the widest since mid-1999, making it more attractive to borrow in euros to buy dollars.<\/span><\/p>\n

In commodities, copper was near a two-week low CMCU3. Spot gold XAU= was trading 0.1 percent lower at $1,270.74 per ounce. [GOL\/]<\/span><\/p>\n

U.S. crude CLc1 ticked up 4 cents to $53.94 a barrel.<\/span><\/p>\n

Source:https:\/\/www.reuters.com\/article\/us-global-markets\/asia-shares-get-technology-boost-crude-near-two-year-top-idUSKBN1CZ01Z<\/span><\/p>\n

\n\t\t\t
\n\t\t\t <\/div><\/div>\n\t\t