LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Asian shares gain on U.S.-Mexico trade optimism

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Aug 28, 2018
06:15 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Asian shares advanced again on Tuesday while major currencies held on to gains amid hopes global tariff tensions were abating as the United States and Mexico made a deal to overhaul the North American Free Trade Agreement.

Investors expect Canada too would agree to the new terms to preserve a three-nation pact, ultimately dispelling the economic uncertainty caused by U.S. President Donald Trump`s repeated threats to ditch the 1994 NAFTA accord.

MSCI`s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> climbed 0.3 percent for a second straight day of gains. Australian shares <.axjo> added 0.5 percent while Japan`s Nikkei <.n225> jumped 0.8 percent.

New York`s S&P 500 <.spx> and Nasdaq <.ixic> indexes hit record highs and bond yields rose, while prices for copper, considered a barometer of global growth, climbed. [.N]

However, some analysts were treating this rally with a degree of caution.

"News of the US-Mexico trade deal has fuelled risk appetite," analysts at ANZ said in a note to clients.

"It is hard to extrapolate much out of it, as the United States continues to treat each country and deal on its own merit. We remain wary of the current rally in risk appetite, and see it as short-lived."

Investors will keep an eye on U.S. economic data with consumer confidence figures due later in the day and the latest estimate for second-quarter gross domestic product expected on Wednesday.

"The NAFTA agreement is clearly a positive to the extent that it reduces the risk of a generalized global trade war," JPMorgan analysts said in a note, though they cautioned it was not automatically positive for the outcome of talks with China.

"Despite this, APAC equities including HK/China should benefit from the weaker U.S. dollar and risk-on moves."

The dollar index <.dxy> paused near one-month lows against major currencies to be last at 94.762.

Against the yen , the greenback held at 111.20.

The euro held near a one-month top at $1.1680.

The Australian dollar , which is often used as a liquid hedge for global growth, hovered around $0.7345 to stay well above a trough of $0.7248.

The Chinese yuan held near a four-week high to the dollar , a day after the country`s central bank took steps to support the currency.

Commodity markets showed signs of optimism in global economic growth prospects. Copper, a favoured indicator of industrial momentum, held near a two-week high of $6,112.00 a tonne .

Oil prices were buoyant, with Brent up 25 cents to $0.76.46 a barrel and U.S. crude rising 19 cents to $69.07.

Gold too was firm too with spot prices at $1211.36 an ounce.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Patient dies after receiving AstraZeneca vax in S.Korea

HC asks Amazon to take down film over actor's defamation case

Bonanza Portfolio highlights trading strategy in Big Bulls Rakesh Jhunjhunwala recent pick during Covid Lockdown

Renault begins commercial sales of SUV Kiger; delivers over 1,100 units on first day

Axar Patel was the best as he made batsmen play: Harbhajan

Why Gold prices have got low and is it expected to fall lower? Should people be looking to invest in it?

Delhi MCD Election 2021 Results LIVE Updates: AAP leading in four wards, Congress in one

Hema Malini: My role in ''Sholay'' has been one of the toughest

WhatsApp feature: Check account balance, fixed deposit (FD), credit card payment details via 1 message

UP, Kanpur, Agra Metro Job Vacancy Recruitment 2021: Bumper salary! Up to Rs 1.6 lakhs - Check all application, dates, pay scale details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved