Asian shares hit historic highs on Monday as Wall Street extended its record-breaking run, while the U.S. dollar remained on the defensive as investors priced in the risk of tighter policies elsewhere in the rich world.Activity was restrained somewhat as a U.S. holiday curbed trade in cash Treasuries, though E-Mini futures for the S&P500 still made gains of 0.22 percent.MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, having finally cleared the former all-time top of 591.50 from late 2007.Australia’s main index firmed 0.2 percent, while Japan’s Nikkei added 0.3 percent.Stocks in Hong Kong jumped 0.9 percent to another record. Investors were optimistic that Chinese gross domestic product data for the December quarter due on Thursday would show growth of at least 6.7 percent for the world’s second biggest economy.Wall Street was on a roll as the fourth-quarter earnings season kicked off with solid results from banks and robust … [Read more...] about Asia shares hit historic high, dollar on defensive
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SET hits record high, other SE Asia stocks rise
Most Southeast Asian stock markets ended higher on Friday, led by Thailand, tracking gains in broader Asia as strong Chinese trade data and optimism ahead of the US corporate earnings season buoyed sentiment. Asian shares ex-Japan rose 0.8% following two sessions of declines, after data showed China's exports rose 10.8% in 2017.Wall Street's three major stock indexes hit record highs overnight with earnings for S&P 500 companies expected to have increased by 11.8% in the recently-ended quarter, according to Thomson Reuters."We are looking at a bullish outlook globally, in terms of economic growth," said Jose L. Vistan, research head at Manila-based AB Capital Securities. The Stock Exchange of Thailand main index closed 0.41% up to 1,810.19, after hitting a record of 1,816.81, helped by gains in financials and utilities.Siam Commercial Bank Plc rose 2.6% while Gulf Energy Development Plc surged 9.3% to a record.The index ended the week 1% higher, its seventh straight … [Read more...] about SET hits record high, other SE Asia stocks rise
Thai stocks flat, Philippines hits record high
Philippine shares jumped the most in a year on Tuesday, hitting a record high on foreign buying, while Vietnam climbed for a second straight session to a fresh 10-year high. Asian shares ex-Japan were nearly flat in afternoon trade, after paring gains and pulling away from the cusp of a record high."Asian markets are driven by the return of Japanese investors from their holiday break. So, we can see buying from those sources," said Manny Cruz, an analyst at Asiasec Equities Inc in Manila.Philippine shares closed 2% up at a record high of 8,923.72, with foreign investors net buying equities worth 1.42 billion pesos ($28.22 million). Financials and industrial stocks accounted for more than half of the gains, with SM Prime Holdings Inc and International Container Terminal Services Inc closing up 3.4% and 2.5%, respectively."Buying from foreign funds is heightened by the fact that recently President Rodrigo Duterte signed a tax reform programme that would spur infrastructure developments … [Read more...] about Thai stocks flat, Philippines hits record high
Ethereum price jumps again as it approaches a new all-time high
Digital currency ethereum gains more than 7% to trade above $1,200 for a second consecutive day. It passed $1,000 over the weekend. Ethereum’s market capitalisation is now around $119 billion. LONDON – The price of cryptocurrency ethereum is closing in on a fresh all-time high during European morning trade on Tuesday as its recent rally shows no signs of stopping. Ethereum, the second biggest cryptocurrency after bitcoin, crossed $1,000 per coin for the first time on Friday, and continued to gain over the weekend, surpassing $1,200 on Monday morning, before hitting a fresh record high of $1,261.41 at around 5.00 a.m. GMT.The cryptocurrency then dipped a little as Monday’s trade continued, but has climbed once again on Tuesday, hitting a daily high of $1,217, a gain of roughly 7.5%, at around 8.20 a.m. GMT (3.20 a.m. ET), as the chart below shows:Ethereum’s recent rally first started after a … [Read more...] about Ethereum price jumps again as it approaches a new all-time high
Ethereum hits a high: Here’s a super-quick guide to what traders are talking about right now
Dave Lutz, head of ETFs at JonesTrading, has an overview of today’s markets. Earnings season starts this week. Most of the global markets are green. Ethereum is rising. Here’s Lutz: Morning, and Welcome to the kick off of Earnings week, with several major US Banks posting Friday, and As the bellwether JPM HC Conference kicks off, we awaken to 2 Biotech deals this AM. US Futures are starting off a touch weaker, as Investors rotate back into Treasuries early. It’s a decent session in Europe tho, where the EU Stoxx 600 is kissing 3Y highs as the DAX climbs 40bp behind a solid rally in the Autos. Fins are red tho, as a bid develops in Bunds. FTSE is Lagging as Tech hit behind Micro Focus, and Healthcare and Staples both rest in the red. Another green overnight in Asia – Hang Seng up 30bp despite a 10% rip higher in Country Garden – Shanghai … [Read more...] about Ethereum hits a high: Here’s a super-quick guide to what traders are talking about right now