🤯 Picked by our AI, this stock rallied more than Nvidia this month, yielding 94% since MarchSee the stock

GLOBAL MARKETS-Stocks rise after U.S. government reopens for now

Published 2019-01-27, 07:30 p/m
© Reuters.  GLOBAL MARKETS-Stocks rise after U.S. government reopens for now
EUR/USD
-
USD/JPY
-
JP225
-
CL
-
US10YT=X
-
KS11
-
NZ50
-
MIAPJ0000PUS
-

* Asian stock markets: https://tmsnrt.rs/2zpUAr4

* Asia lifted after end to US govt shutdown boosts Wall Street

By Shinichi Saoshiro

TOKYO, Jan 28 (Reuters) - Asian stocks advanced on Monday as Wall Street rallied after a deal was announced to reopen the U.S. government following a prolonged shutdown that had shaken investor sentiment.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 0.2 percent.

South Korea's KOSPI .KS11 edged up 0.2 percent, New Zealand stocks .NZ50 were up a touch, while Japan's Nikkei .N225 bucked the trends and eased 0.2 percent. Australian financial markets were shut for their 'Australia Day' holiday.

Facing mounting pressure, U.S. President Donald Trump agreed on Friday to temporarily end a 35-day-old partial U.S. government shutdown without getting the $5.7 billion he had demanded from Congress for a border wall. response Wall Street rallied broadly on Friday as investors were heartened to see the back of the longest U.S. government shutdown in history. .N

The shutdown had left investors anxious and frustrated as it came at a time of heightened worries over slowing global growth, signs of stress in corporate earnings and a still unresolved Sino-U.S. trade war.

"The rise in the broader stock markets looks to keep going. The U.S. government reopening is definitely a plus for market sentiment," said Soichiro Monji, senior economist at Daiwa SB Investments.

"There are still potential risk factors, such as the U.S.-China trade row and Brexit," he said.

In the currency market, the pound stood tall, hovering near a three-month high of $1.3218 GBP=D3 set on Friday on the back of optimism that Britain can avoid a no-deal Brexit.

Britain is set to leave the European Union on March 29, but the country's members of parliament remain far from agreeing a divorce deal. That has kept markets, worried about the possibility of a disorderly Brexit, on edge for much of the last several weeks.

The euro was also on the front foot against the sagging dollar.

The single currency was 0.05 percent higher at $1.1412 EUR= after gaining 0.9 percent on Friday, paring the losses from earlier last week on dovish-sounding comments by European Central Bank President Mario Draghi.

The dollar was slightly lower at 109.48 yen JPY= following mild losses at the end of last week.

The benchmark 10-year Treasury yield US10YT=RR was little changed at 2.754 percent after popping up 4 basis points on Friday in the wake of surging U.S. shares.

U.S. crude oil futures CLc1 were down 0.55 percent at $53.39 per barrel, losing some momentum after two sessions of gains.

Oil prices rose towards the end of last week as political turmoil in Venezuela threatened to tighten crude supply, with the United States signalling it may impose sanctions on exports from the South American nation. (Editing by Shri Navaratnam)

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.