• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Time of Pakistan
No Result
View All Result
Home Business Economy

Asian Shares Firm After Sound US, China Data

ToP by ToP
November 10, 2014
in Economy
0
Asian China Data
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Asian shares held firm in early Monday trade after U.S. jobs data pointed to solid economic growth, while China’s export performance showed more resilience than some had expected. U.S. employers added 214,000 jobs in October, slightly below economists’ median forecast of 231,000, but logging the ninth consecutive month of gains of more than 200,000, the longest stretch since 1994.

[contentblock id=1 img=adsense.png]

Unemployment fell to a six-year low of 5.8 percent, but that did not improve wage growth, with average hourly earnings rising a slim 0.1 percent, falling short of a projected 0.2 percent gain. “It was a familiar combination. Rising payrolls, a falling jobless rate and stagnant wages. All this means is that the U.S. economy is moderately recovering, and no major shift in the Fed’s policy outlook, which should reduces market volatility,” Tohru Yamamoto, chief fixed income strategist at Daiwa Securities, said in a report. MSCI’s broadest index of Asia-Pacific shares outside Japan .

MIAPJ0000PUS rose 0.3 percent. Japan’s Nikkei .N225, however, slipped as the yen rebounded on profit-taking in the dollar following the U.S. payroll data. U.S. share prices ended flat on Friday following the payrolls data as some investors took some money off the table after the market’s rally to record highs. The U.S. dollar also stepped back from a four-year peak against a basket of currencies. [contentblock id=2 img=gcb.png]   The dollar index .DXY stood at 87.539, following a 0.4 percent fall on Friday as it retreated from 88.190 – a high not seen since June 2010. As the dollar slipped, the euro fetched $1.2460 EUR=, off a two-year low of $1.2358 hit on Friday. The yen traded at 114.54 to the dollar JPY=, about one percentage point above 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 $1,170.15 per ounce XAU=, above Friday’s low of $1,131.85. Commodity currencies also won something of a reprieve, with the Australian dollar popping back above 86 U.S. cents AUD=D4 from a four-year low of $0.8540. Also helping underpin commodity currencies, data out of China on Saturday showed export growth did not slow as much as feared. “Overall, the data painted a similar macro picture as in previous months: Robust export growth led by the U.S. and ASEAN demand, and depressed imports driven by falling commodity prices and soft domestic demand,” said Jian Chang, an analyst at Barclays.

[contentblock id=3 img=adsense.png]

Exports grew 11.6 percent in October, slowing from a 15.3 percent jump in September but beating expectations of a 10.6 percent rise. Imports were weaker than expected. But the official Shanghai Securities News said on Monday the above-forecast export growth and heavy trade surplus in October showed signs of manipulation as well as inflows of speculative hot money, quoting economists. The next focus is China inflation data due later in the day. China’s annual inflation is seen at 1.6 percent in October, steady from the previous month, but way below the official target of 3.5 percent. (Reuters)

Tags: business newslatest news
Previous Post

Obama Signals New Phase in Fight Against ISIL

Next Post

BlackBerry CEO Sees Fewer New Devices

ToP

ToP

Related Posts

IMF
Pakistan

Pakistan Secures $7 Billion IMF Loan as Government Plans Stricter Measures for Taxpayers—Here’s What’s Coming Next

by Jameel Ahmad
September 13, 2024
Shehbaz Sharif
Pakistan

PM Shehbaz Hails Economic Progress: ‘Inflation Decrease and Credit Rating Upgrade Signal Positive Turn for Pakistan’

by Jameel Ahmad
September 2, 2024
IMF
Pakistan

Diplomatic Titans Rally Behind Pakistan’s Economic Revival

by Jameel Ahmad
March 21, 2024
Pakistan Stock Exchange
Pakistan

PSX Skyrockets Over 1,000 Points, Smashes Through 48,000 Barriers to Reach Two-Year High

by Jameel Ahmad
July 31, 2023
Salaried class income tax
Pakistan

Salaried Class Bears Nearly 200% More Tax Burden Than Exporters and Retailers

by Jameel Ahmad
July 26, 2023
US Dollar
Pakistan

PKR Strengthens by Rs15 Against US Dollar in Interbank Market Following IMF Approval

by Jameel Ahmad
July 4, 2023
shehbaz sharif Sabzazar Sports Complex
Pakistan

Prime Minister Shehbaz Sharif pledges to seek public support if IMF deal falls through

by Jameel Ahmad
June 12, 2023
Next Post
BlackBerry CEO Sees Fewer New Devices

BlackBerry CEO Sees Fewer New Devices

Popular Stories

  • Farhan Ali Qadri

    Naat Khawan ‘Farhan Ali Qadri’ Arrested

    0 shares
    Share 0 Tweet 0
Time of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • 11th J.A. Zaman Memorial Open – Powered by Gem Golfers
  • Imran Khan and Bushra Bibi Sentenced to Jail in £190 Million Case
  • World’s Largest Submarine Cable Arrives in Pakistan: Could This End Internet Woes?

Times Of Pakistan © 2024. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In