world stocks


China blames 'excuses' for lack of agreement at Apec, as US ties sour again

BEIJING, Nov 20 — A major Asia-Pacific summit's failure to agree on a communique resulted from certain countries “excusing” protectionism, a top Chinese diplomat said, in a veiled criticism of Washington that further sours the tone of China-US…

World stocks, Wall Street futures surge after US vote but dollar takes hit

LONDON, Nov 7 ― Wall Street was set for a surge today and global stocks rose after a US election divided control of Congress, but the outcome, which casts doubt on further tax cuts, hit the dollar and sent Treasury yields lower. The Democrats…

China stimulus drives third day of emerging-market gains

BEIJING, Nov 1 — Emerging-market stocks rose for a third day today, as Beijing’s plan to boost infrastructure spending and a tepid dollar helped the mood after a bruising month for equities globally. The MSCI index of developing-world stocks…

Dollar stands tall as equities fall

LONDON: The dollar rose towards a 10-week high against a basket of other currencies today as concerns about global growth pervaded markets.

World stocks have sold off in October, beset by worries over corporate earnings and geopolitical uncertainty.

That has lifted the dollar – a currency that typically outperforms in risk-off periods – but the currency has strengthened only moderately.

“This likely reflects a number of factors, including long dollar positioning and, by the end of this week, some modest repricing of Federal Reserve expectations,” said Zach Pandl, co-head of foreign exchange at Goldman Sachs.

The dollar index rose 0.2% to 96.517 after gaining 0.7% last week when it hit a ten-month high.

The duelling tariffs imposed by the United States and China have also lifted the dollar. The market has assumed that while the US economy will be hit by reduced trade, it will be hurt less than its trading partners.

“There seems little short-term catalyst for investors to move away from overweight positions in the high-yielding dollar,” said ING’s head of FX strategy Chris Turner.

“Keeping the dollar bid this week should be a continuation of strong US data. At the same time, we will be watching developments in China,” he said.

The US economy slowed less than expected in the third quarter, data showed on Friday, as the strongest consumer spending in nearly four years and a surge in inventory investment offset a tariff-related drop in soybean exports.

Among emerging markets, Brazilian-linked stocks got a lift from the victory in the country’s presidential election of far-right candidate Jair Bolsonaro, who campaigned on promises to clean up politics and crack down on crime.

The safe-haven Japanese yen has benefited from the global sell-off in riskier assets as investors unwound carry trade exposures. It gained 0.6% last week and today traded flat at 111.96 per dollar.

Investors will be watching the Bank of Japan’s monetary policy announcement, due tomorrow.

The euro hovered around US$1.14 (RM4.76), its lowest in more than two months. Investors saw some relief after German Chancellor Angela Merkel’s junior coalition partners gave her conservatives until next year to deliver more policy results.

However, concerns loomed over her future after both parties suffered in a regional election on Sunday.

Sterling held near a two-month trough of US$1.28 before Britain’s annual budget due today.

Finance Minister Philip Hammond is likely to urge his Conservative Party to back the government’s plan for Brexit, or put at risk a long-awaited easing of austerity. – Reuters

US bond yields near seven-year high stymie world stocks’ recovery

LONDON, Oct 10 — World stocks flatlined today just above eight-week lows, curbed by US long-dated borrowing costs near multi-year peaks, renewed fears for the global economy and the possibility of an Italy-EU clash over budget spending. The…

Stocks flatline after selloff as US borrowing costs hold below multi-year peaks

LONDON, Oct 10 — World stocks inched off eight-week lows today as US long-dated borrowing costs held below multi-year peaks, though market gains were checked by fears for global economic growth and the possibility of an Italy-EU clash over budget…

Asian shares subdued as global growth woes linger

TOKYO, Oct 10 ― Asian shares steadied in early Wednesday trade after world stocks hit eight-week lows the previous day on worries about global economic growth, although the pound stayed firm on hopes for a Brexit deal. MSCI's broadest index of…

European stocks find footing after Asia drops to 17-month low

LONDON, Oct 9 — Europe battled to fend off a four-day losing streak for world stocks today, after weary investors had seen Asia stumble to a 17-month low and bond markets hit by a fresh bout of selling. Strength in oil stocks on higher crude…

European shares slide on ‘powerful cocktail’ of China slump, Treasuries and Italy

LONDON, Oct 8 — European markets fell heavily today as investor confidence took a knock from last week’s spike in Treasury yields and from a Chinese market slump brought on by concerns that an escalating trade war with the United States could…

World stocks steady ahead of US jobs data

LONDON, Oct 5 ― World markets steadied ahead of US jobs numbers today, as a four-year high in oil prices and the biggest weekly jump in Treasury yields since February left investors wondering where to go next. The usual drop in activity ahead of…