Definitive Date for HK-Shanghai Market Link-Up Boosts Chinese Indices, USD Stumbles After NFP Result
November 10, 2014 8:20 am
Asian shares gained on Monday after U.S. jobs data pointed to solid economic growth, with Hong Kong leading the gains after regulators set an opening date for a long-awaited trading link between the Hong Kong and Shanghai stock exchanges. U.S. stocks closed little changed on Friday, pressured by renewed uncertainty in healthcare stocks and by a drop in Disney’s share price, even as October payrolls data pointed to a resilient economy in the face of sluggish global growth. The Dow rose 19 points to close at 17573 and the S&P500 rose 0.71 points to close to close at 2031.
Currency markets gyrated after the jobs numbers, with the Euro slipping briefly to a fresh 26-month low at $1.2357 before rising 0.58% to $1.2445. For the week, however, the Euro is down 0.63%, The Yen traded at 114.07 to the Dollar, gaining 0.4% on Monday and rising further from its seven-year low of 115.60 per Dollar hit on Friday.
The Dollar’s fall lifted the battered gold price from 4 1/2-year lows. Gold traded at $1,172.50 per ounce, above Friday’s low of $1,131.85. Oil prices rose on Monday on renewed geopolitical tensions in the Middle East and Ukraine, with Brent crude gaining 0.6%, extending its recovery from a four-year low hit last Wednesday.
Asian shares gained on Monday after U.S. jobs data pointed to solid economic growth, with Hong Kong leading the gains after regulators set an opening date for a long-awaited trading link between the Hong Kong and Shanghai stock exchanges. U.S. stocks closed little changed on Friday, pressured by renewed uncertainty in healthcare stocks and by a drop in Disney’s share price, even as October payrolls data pointed to a resilient economy in the face of sluggish global growth. The Dow rose 19 points to close at 17573 and the S&P500 rose 0.71 points to close to close at 2031.
Currency markets gyrated after the jobs numbers, with the Euro slipping briefly to a fresh 26-month low at $1.2357 before rising 0.58% to $1.2445. For the week, however, the Euro is down 0.63%, The Yen traded at 114.07 to the Dollar, gaining 0.4% on Monday and rising further from its seven-year low of 115.60 per Dollar hit on Friday.
The Dollar’s fall lifted the battered gold price from 4 1/2-year lows. Gold traded at $1,172.50 per ounce, above Friday’s low of $1,131.85. Oil prices rose on Monday on renewed geopolitical tensions in the Middle East and Ukraine, with Brent crude gaining 0.6%, extending its recovery from a four-year low hit last Wednesday.
Related Posts: