The Fort Worth Press - Most Asian markets rise in thinned trade after Wall St rally

USD -
AED 3.67295
AFN 68.452776
ALL 93.048382
AMD 390.177793
ANG 1.816976
AOA 911.999619
ARS 998.2263
AUD 1.54507
AWG 1.8
AZN 1.698754
BAM 1.853558
BBD 2.03554
BDT 120.47462
BGN 1.855803
BHD 0.376886
BIF 2977.069937
BMD 1
BND 1.347372
BOB 6.966716
BRL 5.825396
BSD 1.008198
BTN 85.007628
BWP 13.679442
BYN 3.299388
BYR 19600
BZD 2.031743
CAD 1.39969
CDF 2864.999771
CHF 0.887995
CLF 0.035848
CLP 989.153355
CNY 7.242201
CNH 7.254505
COP 4485.54
CRC 514.803442
CUC 1
CUP 26.5
CVE 104.500739
CZK 23.985696
DJF 179.528977
DKK 7.077685
DOP 60.720649
DZD 133.952972
EGP 49.372602
ERN 15
ETB 123.045036
EUR 0.948855
FJD 2.27535
FKP 0.789317
GBP 0.789359
GEL 2.730455
GGP 0.789317
GHS 16.281891
GIP 0.789317
GMD 70.999572
GNF 8685.114015
GTQ 7.788646
GYD 210.880869
HKD 7.781775
HNL 25.453011
HRK 7.133259
HTG 132.557454
HUF 387.514307
IDR 15925.803259
ILS 3.75528
IMP 0.789317
INR 84.414504
IQD 1320.673043
IRR 42092.50406
ISK 139.809873
JEP 0.789317
JMD 159.606118
JOD 0.709202
JPY 155.972502
KES 129.514885
KGS 86.199267
KHR 4084.665671
KMF 466.349913
KPW 900.000094
KRW 1405.411475
KWD 0.307686
KYD 0.839986
KZT 496.917168
LAK 22141.007898
LBP 90227.005275
LKR 294.668935
LRD 190.003315
LSL 18.110979
LTL 2.95274
LVL 0.60489
LYD 4.884614
MAD 10.024356
MDL 18.167086
MGA 4704.489757
MKD 58.413636
MMK 2097.99974
MNT 3398.000066
MOP 8.075803
MRU 40.134198
MUR 47.429998
MVR 15.449884
MWK 1748.169588
MXN 20.548297
MYR 4.484504
MZN 63.899993
NAD 18.111065
NGN 1684.480416
NIO 37.103201
NOK 11.15606
NPR 136.03721
NZD 1.704841
OMR 0.385008
PAB 1
PEN 3.821032
PGK 4.051574
PHP 58.819002
PKR 280.056171
PLN 4.113175
PYG 7867.983726
QAR 3.675652
RON 4.722896
RSD 111.038018
RUB 99.300479
RWF 1383.775103
SAR 3.757064
SBD 8.383555
SCR 13.620181
SDG 601.488769
SEK 11.00801
SGD 1.346067
SHP 0.789317
SLE 22.814977
SLL 20969.503157
SOS 576.121825
SRD 35.279862
STD 20697.981008
SVC 8.819614
SYP 2512.529518
SZL 18.116683
THB 35.003667
TJS 10.73969
TMT 3.51
TND 3.147935
TOP 2.389991
TRY 34.35863
TTD 6.849698
TWD 32.572978
TZS 2681.658374
UAH 41.641396
UGX 3672.512403
UYU 42.486895
UZS 12891.667497
VES 44.876473
VND 25393.60245
VUV 118.721977
WST 2.803992
XAF 622.573731
XAG 0.03345
XAU 0.000391
XCD 2.70255
XDR 0.753908
XOF 622.573731
XPF 113.258656
YER 249.774976
ZAR 18.282105
ZMK 9001.205525
ZMW 27.572126
ZWL 321.999592
  • RIO

    -0.5800

    60.62

    -0.96%

  • CMSC

    0.0700

    24.61

    +0.28%

  • BCC

    1.4200

    142.55

    +1%

  • SCS

    -0.3000

    13.37

    -2.24%

  • BTI

    0.1800

    35.42

    +0.51%

  • NGG

    -0.7800

    62.12

    -1.26%

  • RBGPF

    59.2500

    59.25

    +100%

  • CMSD

    -0.0200

    24.73

    -0.08%

  • RYCEF

    -0.0400

    7.07

    -0.57%

  • JRI

    0.0200

    13.24

    +0.15%

  • RELX

    -0.4700

    46.12

    -1.02%

  • BCE

    -0.4800

    27.21

    -1.76%

  • GSK

    -0.4100

    35.11

    -1.17%

  • VOD

    0.2800

    8.75

    +3.2%

  • AZN

    0.1000

    65.29

    +0.15%

  • BP

    0.4100

    28.57

    +1.44%

Most Asian markets rise in thinned trade after Wall St rally
Most Asian markets rise in thinned trade after Wall St rally

Most Asian markets rise in thinned trade after Wall St rally

Most Asian markets rose Monday after a late afternoon rally on Wall Street capped a volatile week for global equities, though traders remained nervous about the Federal Reserve's plan to hike interest rates as it battles surging inflation.

Text size:

The Nasdaq led the strong finish for US equities thanks to a seven percent bump for heavyweight Apple, which posted eye-watering fourth quarter profits that lifted optimism about consumer spending and the economic recovery.

And the strong performance -- which was also helped by strong US economic data -- filtered through to Asia, where trade was thinned by investors winding down ahead of the three-day Lunar New Year break that starts Tuesday.

Tokyo, Hong Kong, Singapore, Wellington, Manila and Jakarta were all in positive territory, though Sydney edged down. Shanghai, Seoul and Taipei were closed for holidays.

The gains followed a period of upheaval across world markets as the Fed readies to withdraw the vast financial support put in place at the start of the pandemic, which has been a key driver of a near two-year equity rally.

And while further volatility is expected as the bank lifts borrowing costs, commentators remain upbeat.

The recent selloff "marks a long overdue correction rather than the start of a bear market", said analysts at BCA Research Inc.

They added: "Stocks often suffer a period of indigestion when bond yields rise suddenly, but usually bounce back as long as yields do not move into economically restrictive territory."

Still, observers continue to debate the Fed's likely moves as inflation sits at a four-decade high, with some saying it could hike up to seven times before 2023, with an initial 50 basis point move in March.

In an interview with the Financial Times published Saturday, Atlanta Fed chief Raphael Bostic said he expected three hikes this year but warned "every option is on the table for every meeting".

He stressed that he would be "comfortable" with the idea of making an increase at each of the bank's seven meetings this year.

Oil prices climbed more than one percent on expectations that demand will continue as economies re-open and people start travelling again, while worries about a Russian invasion of Ukraine fed fears about possible supply disruptions.

Analysts have said that if Russia sends troops into the country, crude prices could top $100 for the first time since 2014.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: UP 1.0 percent at 26,981.89 (break)

Hong Kong - Hang Seng Index: UP 0.7 percent at 23,712.23

Shanghai - Composite: Closed for a holiday

Dollar/yen: UP at 115.53 yen from 115.24 yen late Friday

Euro/dollar: UP at $1.1159 from $1.1158

Pound/dollar: UP at $1.3412 from $1.3389

Euro/pound: UP at 83.20 pence from 83.16 pence

West Texas Intermediate: UP 1.5 percent at $88.12 per barrel

Brent North Sea crude: UP 1.4 percent at $91.33 per barrel

New York - Dow: UP 1.7 percent at 34,725.47 (close)

London - FTSE 100: DOWN 1.2 percent at 7,466.07 (close)

-- Bloomberg News contributed to this story --

T.Gilbert--TFWP