asian market rally fades dealers nervous ahead of trump speech
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Asian market rally fades, dealers nervous ahead of Trump speech

Egypt Today, egypt today

Egypt Today, egypt today Asian market rally fades, dealers nervous ahead of Trump speech

Asian traders hope President Donald Trump's address to Congress will provide detail on his economic plans
Hong Kong - AFP

Asian markets mostly gave up their early gains Tuesday and the dollar came under fresh selling pressure as trading floors grew cautious before Donald Trump's speech to a joint session of Congress.
The new US president hinted he would make a "big" announcement on infrastructure policy, raising hopes he will deliver on a key campaign promise.
Traders will also be looking for details of tax reform -- another major pledge -- which this month he said would be "phenomenal".
Global markets and the dollar have surged since Trump's election win in November on expectations his planned measures will fire the US economy and fuel inflation, forcing the Federal Reserve to raise interest rates.
But with the Dow on Monday hitting a record high for a 12th successive day, analysts say there is a fear the advance may have gone too far and investors are beginning to row back, with the dollar also feeling the pinch.
“President Trump’s big address naturally has attracted a lot of anticipation in markets. There is a strong chance that it could be the catalyst for the next leg higher for the US dollar, bonds and stocks,” Greg McKenna, chief market strategist at CFD and FX provider AxiTrader, said in a note.
"But there is also room for disappointment."
The dollar got a shot in the arm Monday when the head of the Dallas Fed, Robert Kaplan, said he thought borrowing costs should be raised "sooner rather than later".
- Samsung heir indicted -
His comments fuelled speculation the Fed could hike as soon as next month. They come days before the central bank's head, Janet Yellen, and her deputy Stanley Fischer are due to talk.
The greenback's improvement from Monday's levels around 112 yen provided support to Japan's exporters in the morning. But the positive energy for the dollar seeped away through the day and the Nikkei ended only marginally higher, having been up almost one percent at one point. 
Adding to the sense of concern, Japan logged its first fall in factory output for six months, highlighting the struggle to turn around the world's number three economy.
Hong Kong fell 0.8 percent, extending losses to a fourth day, while Sydney shed 0.2 percent and Singapore was off 0.3 percent. Manila and Kuala Lumpur also retreated. But Shanghai rose 0.4 percent.
Seoul closed 0.3 percent higher, with market heavyweight Samsung Electronics jumping more than one percent despite news that the heir to the South Korean giant and four other top executives had been indicted on multiple charges including bribery and embezzlement.
In early European trade London and Frankfurt each rose 0.2 percent while Paris added 0.4 percent.
 - Key figures around 0800 GMT - 
Tokyo - Nikkei 225: UP 0.1 percent at 19,118.99 (close)
Hong Kong - Hang Seng: DOWN 0.8 percent at 23,740.73 (close)
Shanghai - Composite: UP 0.4 percent at 3,241.73 (close)
London - FTSE 100: UP 0.2 percent at 7,264.10
Euro/dollar: UP at $1.0590 from $1.0587
Pound/dollar: DOWN at $1.2420 from $1.2440
Dollar/yen: DOWN at 112.40 yen from 112.70 yen
Oil - West Texas Intermediate: UP one cent at $54.06
Oil - Brent North Sea: UP seven cents at $56.00 per barrel
New York - Dow: UP 0.1 percent at 20,843.19 (close)

Source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian market rally fades dealers nervous ahead of trump speech asian market rally fades dealers nervous ahead of trump speech



GMT 07:13 2010 Wednesday ,15 September

Sitting comfortably with eye catching fabrics

GMT 17:18 2017 Tuesday ,31 October

Syria regime shelling kills 4 schoolchildren

GMT 11:24 2017 Wednesday ,09 August

Djamila Bouhired is guest of honor of Aswan festival

GMT 15:50 2016 Saturday ,13 February

Hungarians protest state's grip on education

GMT 09:43 2017 Wednesday ,06 December

International Agriculture Investment Forum kicks off

GMT 09:51 2019 Monday ,19 August

Live a frustrating atmosphere in your career

GMT 12:11 2017 Monday ,08 May

'Tonight, France won', says euphoric Macron

GMT 11:31 2012 Friday ,11 May

Europe ships key instrument

GMT 09:43 2016 Wednesday ,06 April

Japan's only working nuclear reactors can stay online

GMT 07:51 2016 Monday ,13 June

Wales wing North out of New Zealand series

GMT 23:37 2016 Wednesday ,27 April

27 Yemeni soldiers killed in Mukalla offensiv

GMT 16:25 2011 Tuesday ,12 July

US envoy meets Yemen interim leader

GMT 06:30 2013 Friday ,15 November

Nearly 1000 killed in Cairo since Aug 14 crackdown

GMT 04:51 2016 Wednesday ,21 September

Indian markets open flat

GMT 16:36 2017 Saturday ,18 February

GCC condemns suicide blasts in Iraq, Pakistan

GMT 17:11 2017 Tuesday ,07 March

Thinni slams int'l silence over suicide attack

GMT 20:08 2011 Wednesday ,11 May

Manchester City earn first Champions League

GMT 22:22 2011 Sunday ,08 May

Villarreal stumble in Champions League race
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday