Asia shares slip, dollar on track for losing wk as trump effect fades – the economic times


TOKYO: Asian shares dipped on Friday but were on track for weekly gains while the dollar was poised for a losing week, with investors disappointed that President-elect Donald Trump failed to elaborate on stimulus plans at a news conference two days ago.

But investors have started to price in the potential that the “reflation scenario may well come up short,” Hewson said, as they reassess what to expect from Trump in the coming weeks.

Investors largely shrugged off trade data from China. Oil futures market hours December exports fell by a more-than-expected 6.1 percent from a year earlier, while imports beat forecasts slightly, government data released on Friday showed.

As the world’s largest trading nation, China could come under pressure from protectionist measures this year if Trump follows through on his campaign pledges to brand it a currency manipulator and impose heavy tariffs on the country’s imports.

“The trend of anti-globalization is becoming increasingly evident, and China is the biggest victim of this trend,” customs spokesman Huang Songping told reporters.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent, after rising to its highest levels since late October in the previous session. Stock market futures quotes It was up 1.9 per cent for the week.

South Korean shares shed 0.5 per cent, roiled by an influence-peddling scandal that could topple President Park Geun-hye. Exchange rate nzd to usd Samsung Group leader Jay Y. Us stock market futures cnn Lee left the South Korean special prosecutor’s office early on Friday, more than 22 hours after arriving for questioning on bribery suspicions.

On Wall Street, major indexes finished Thursday lower, chilled by Trump’s failure to address economic policy plans at his first news conference since winning the Nov. Joy newsome story 8 election.

Many investors remained hopeful that markets will get a lift from a wave of financial deregulation that could follow Trump’s inauguration, including a rollback of some of the Dodd-Frank financial reform measures that Congress enacted after the financial crisis and bank bailouts.

“Market weakness at the end of the week may continue, but anticipation of a Dodd-Frank repeal possibility spurs an optimistic outlook,” said Hiroki Allen, chief representative of Superfund Japan in Tokyo.

Still, this week’s stronger yen dented demand for Japanese shares. Gender differences in communication styles The dollar was flat at 114.75 yen after skidding as low as 113.75 on Thursday, its lowest since Dec. Usd aud 8. Rand pound exchange rate history It was on track to shed 1.8 per cent for the week, with some investors saying the yen’s rise has room to run and others suggesting it might be close to a top.

“It is unlikely that the yen strengthens further against the dollar,” Yukio Ishizuki, FX strategist at Daiwa Securities in Tokyo. Computer analysis of the futures market pdf “The US Treasuries yield is expected to rise considering rising US inflation expectations.”

The yields on 10-year and 30-year Treasury notes had touched their lowest levels since November on Thursday before retaking some lost ground, and were modestly higher in Asia. Exchange rate usd to yen The 10-year yield stood at 2.367 per cent, compared with Thursday’s US close of 2.361 per cent.

The dollar wallowed around five-week lows against a currency basket, even as the dollar index edged up slightly to 101.37. Decimal to binary converter It was down 0.8 per cent for the week.

The dollar index had scaled 14-year peaks this month, on speculation that Trump’s policies would spur growth and inflation, and prompt the Federal Reserve to raise interest rates at a faster pace than previously expected.

Crude oil prices extended gains, bolstered by the weaker dollar as well as news that Saudi Arabia has cut oil output to its lowest in almost two years and plans further reductions.

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