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gamesindustryblog.com March 29, 2017


Southeast Asia Stocks-Rise as Fed signals gradual tightening; banks gain

18 March 2017, 01:28 | Ignacio Smith

Asia report: Markets higher ahead of Fed meeting

Tokyo stocks hit 15-month high after US jobs data

Asian stocks rose Thursday following a US rate hike and a Eurosceptic party's defeat in Dutch elections. Now, "the focus will shift to board projections".

The Dow Jones Industrial Average .DJI fell 6.94 points, or 0.03 percent, to 20,927.61, the S&P 500 .SPX lost 1.64 points, or 0.07 percent, to 2,379.74 and the Nasdaq Composite .IXIC dropped 6.50 points, or 0.11 percent, to 5,894.26.

"Given the expectations for rate hikes this year, the current dollar-buying trend will not change for the time being".

On the other hand, mining shares rose after crude oil prices extended gains from the previous session after official government data showed US stockpiles had eased from record highs. Benchmark U.S. crude rose 75 cents to $48.47 a barrel in electronic trading on the New York Mercantile Exchange.

The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent after posting its second-biggest daily gain this year in the previous session. The Hang Seng in Hong Kong edged 0.2 per cent lower to 23,792.85 but the Shanghai Composite Index recouped early losses to rise 0.1 per cent to 3,241.76.

Eagles sign free agent WRs Alshon Jeffery, Torrey Smith
Jeffery caught 52 passes for 821 yards and 2 touchdowns in 12 games for Chicago past year despite serving a four-game suspension. Regardless, it was a classy and professional statement put out by Jeffery that offers some closure for his time with the Bears.

Most stock markets in Asia started the week on a high - tracking all three main Wall Street indexes - after the Labor Department said the economy created 235,000 new jobs in February, much more than estimated. Brent crude, which is used to price global oils, added 74 cents to $51.66 per barrel in London.

A global stock market index hovered near record highs on Friday, wrapping up a week when numerous world's biggest economies either raised interest rates or signaled they might do so, underlining confidence about economic growth and inflation.

Banking and insurance stocks underperformed, with their sector indexes slipping 0.9 percent and 1.9 percent, respectively, after U.S. Treasury yields fell sharply in reaction to the Fed's stance. West Texas Intermediate crude CLc1 was up 1.5 percent at $48.45 a barrel.

CURRENCIES: The dollar edged up to 114.89 yen from 114.88 yen while the euro slipped to $1.0628 from $1.0653.



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