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Most Asian stock markets rallied on Wednesday following positive signs from Wall Street

2018-04-18 06:45 am | Resource: NEWS | No Views : 429

Most Asian stock markets rallied on Wednesday after positive signs from Wall Street yesterday of earnings of optimistic companies and economic data.

Investors also welcomed the signal that the United States and North Korea are making progress in arranging a summit between US President Donald Trump and North Korean leader Kim Jong-un. Meanwhile, China's central bank cut reserve requirements for most commercial banks on Tuesday.

Australian market rallied modestly after overnight gains on Wall Street as investors digested production results in the first quarter of mining giant Rio Tinto and Woodside Petroleum. Mining gains and oil stocks offset weakness in bank stocks.

In the late morning trade, the S & P / ASX 200 is adding 16.60 points, or 0.28%, to 5,858.10, away from the previous high of 5,859.30. The broader All Ordinaries index gained 17.60 points, or 0.30 percent, to 5,551.90.

In mining, BHP Billiton adds 0.5 percent, while Fortescue Metals is up 0.7 percent, boosted by higher iron ore prices.

Rio Tinto is up more than 1 per cent after announcing a 5 per cent increase in iron ore shipments in the first quarter of 2018 and confirming its forecast for the full-year crude shipment. However, the miner said it may need to update its aluminum production guidelines for the entire year because of US sanctions against Russia.

In the banking sector, ANZ Banking, National Australia Bank, Commonwealth Bank and Westpac fell between 0.4% and 0.7%. The Commonwealth Bank said it would manage its global asset management business.

Shares of AMP Limited fell by 0.6 percent, continuing losses from the previous session, after the wealth manager of the Royal Banking Commission admitted that it had lied or misled the regulator 20 times about its business practices.

Elsewhere in Asia, South Korea and Singapore are advancing more than one percent each, while New Zealand, Indonesia, Hong Kong and Taiwan are also closed higher. Meanwhile, Shanghai and Malaysia posted gains but are less modest.

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Best Opportunities, Vision and Technical Analysis for The NASDAQ100 17 April 2019

We offer you the analysis of the NASDAQ 100 index on Wednesday , April 17, 2019 with the most important forecasts for the NASDAQ 100 index in the US market. Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around 7670 levels, forming a negative candlestick pattern as the indices…

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