ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » World News

Global Markets: Asian shares gain as earnings, tax debate help U.S. stocks

  • Twitter
  • Facebook
  • GPlus
Global Markets: Asian shares gain as earnings, tax debate help U.S. stocks
People walk past an electronic board showing Japan's Nikkei average outside a brokerage at a business district in Tokyo. Image Source: Reuters
Updated: Fri, Nov 17, 2017
08:23 am
Reuters
RELATED NEWS
Take Five: World market themes for the week ahead Take Five: World market themes for the week ahead
Sensex rises over 150 pts ahead of RBI board meet Sensex rises over 150 pts ahead of RBI board meet
Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19 Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19
FAST MONEY: SREI Infra, PVR among key intraday tips for Tuesday's trade FAST MONEY: SREI Infra, PVR among key intraday tips for Tuesday's trade
Galaxy Surfactants listing, choppy trade in Asia among key things to track today Galaxy Surfactants listing, choppy trade in Asia among key things to track today

Asian shares rose on Friday as strong U.S. earnings and a step forward in the U.S. Congress on tax reform brightened the mood, even though investors noted that many more hurdles must be passed to reach a final deal on tax cuts.

MSCI`s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> rose 0.1 percent while Japan`s Nikkei <.N225> gained 0.9 percent, extending its recovery from a near three-week intraday low hit the previous day.

Wall Street`s main indexes rose sharply on Thursday, boosted by strong gains in Wal-Mart and Cisco following their earnings.

The S&P 500 <.SPX> advanced 0.82 percent to turn positive for the week, a day after hitting a three-week low, while the Nasdaq Composite <.IXIC> added 1.3 percent to a closing record high of 6,793.29.

MSCI`s broadest gauge of the world`s stock markets <.MIWD00000PUS> stemmed its five-day losing streak and posted its biggest daily gain in two months, of 0.80 percent, on Thursday.

Junk bond prices rebounded sharply, with iShares High Yield Bond ETF gaining almost one percent to recoup more than half of its losses since the start of the month.

"The markets had been wary of fall in credit products during the last few days but it seems we just had a healthy correction. As the European Central Bank and the Bank of Japan are still pumping liquidity, the world`s asset markets will be supported," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.

The U.S. House of Representatives approved a broad package of tax cuts sought by President Donald Trump, passing its first, if smallest, hurdle and providing a catalyst for fresh buying in risk assets.

The tax debate now moves to the U.S. Senate, where that chamber`s separate plan has already encountered resistance from some Republicans. No decisive Senate action is expected until after next week`s Thanksgiving holiday on next Thursday.

The positive mood on Wall Street helped to lift the yield on two-year U.S. notes to a nine-year high, with a Fed rate hike in December seen almost as a done deal.=rr>

Fed funds rates futures are now pricing in about a 90 percent chance of another rate hike by June next year, the highest level in recent months and up from about 50 percent just over a month ago.

As the dollar gained, the euro edged down to $1.1769, slipping further from its one-month peak of $1.1862 touched on Wednesday.=>

The dollar ticked up to 113.09 yen , extending its rebound from Wednesday`s 112.47, its lowest level in almost a month.=>

Elsewhere bitcoin hit a record high , quickly recovering from its 30-percent plunge last week.=btsp>

Oil prices have slipped from two-year highs hit last week on signs that U.S. supply is rising and could potentially undermine OPEC`s efforts to tighten the market.

U.S. light crude stood at $55.22 a barrel, little changed from its levels in the past couple of days but down 2.7 percent on the week.

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

TAGS:
Asian marketmarkets openMSCINikkeiUS dollar valueMarkets
RELATED NEWS
Take Five: World market themes for the week ahead Take Five: World market themes for the week ahead
Sensex rises over 150 pts ahead of RBI board meet Sensex rises over 150 pts ahead of RBI board meet
Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19 Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19
FAST MONEY: SREI Infra, PVR among key intraday tips for Tuesday's trade FAST MONEY: SREI Infra, PVR among key intraday tips for Tuesday's trade
Galaxy Surfactants listing, choppy trade in Asia among key things to track today Galaxy Surfactants listing, choppy trade in Asia among key things to track today

LATEST NEWS

Kingfisher Airlines escaped, Jet Airways trapped! The cost of defaulting is Re 1

Buy your dream house! SBI Mega E-Auction nears, over 1000 residential, commercial properties on offer - all details here

Jewar Airport: More than double return in 5 years! Why investing in land here is a realty win-win

Stock Alert! 12 PSBs make investors richer by 5% to 19%; know why

Gold hovers near 10-month peak amid steady dollar after Fed minutes

SSC JE 2018-19 Recruitment: 1601 vacancies announced at ssc.nic.in; Check process and details

LIVE: UP anganwadi worker, helper salary 200% hike announcement likely today by CM Yogi Adityanath

7th Pay Commission: These personnel's retirement age to be hiked courtesy court; lakhs to benefit

India, Saudi need to explore opportunities in new products, biz: Prabhu

DoT panel may decide on penalty on 3 telcos, MTNL's VRS today

  • 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

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

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