asia markets mixed after us recordsbitcoin breaks 10000
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Asia markets mixed after US records,Bitcoin breaks $10,000

Egypt Today, egypt today

Egypt Today, egypt today Asia markets mixed after US records,Bitcoin breaks $10,000

British and EU negotiators had reached a deal
Hong Kong - AFP

Asian traders stayed cautious Wednesday despite fresh records on Wall Street as Donald Trump's tax-cut plans moved a step closer, while the pound extended gains on reports of a breakthrough in Brexit talks.

While markets were mixed, investors brushed off early worries about North Korea's latest missile test. Bitcoin continued its surge to break the $10,000 mark for the first time.

New York traders cheered a forecast-beating US consumer confidence survey and news that a key senate committee agreed to a fiscal overhaul plan late Tuesday, fuelling a rally to new records on the city's three main indexes.

The move allows Trump's much-vaunted proposals to be debated on the floor of the upper chamber, a relief to many who had feared opposition from some Republicans would kill it.

Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers, said the agreement "is a significant milestone and the chances of a negotiated version being implemented this year is likely".

"There is a lot of optimism being priced in currently," he said, but warned that "delays or a rejection of the bill will result in a sharp correction in December".

The dollar rallied in US trade on the news and managed to hold its gains in Asia, buying 111.48 yen after having dipped below 111 yen at one point Tuesday. But seemingly dovish comments from Trump's choice to head the Federal Reserve kept it from surging.

The weaker yen helped the Nikkei end 0.5 percent higher, while Sydney also added 0.5 percent. Wellington and Taipei also edged up.

Ongoing worries about China's crackdown on risky and speculative trading dragged Hong Kong 0.1 percent down in the afternoon but Shanghai recovered from early losses to end 0.1 percent higher.

Seoul and Singapore each dropped 0.1 percent.

 

- Bitcoin breaks $10,000 -

 

Analysts said there was some concern that in trying to calm surging mainland markets and stop cash leaving the country, China would try to stem the amount dealers can invest in Hong Kong.

"If money keeps going south to Hong Kong, then for a closed-end system such as (China's) market, it will present a liquidity drainage," Hao Hong, chief strategist at Bocom International Holdings in Hong Kong, told Bloomberg News.

"Now that they have a policy stance to slow down the flows, and Hong Kong is coming near the 30,000 resistance, you may see money slowing down."

"This headline is fantastically positive news for the beleaguered pound," said Stephen Innes, head of Asia-Pacific trading at OANDA. "The financial settlement should pave the way to possible breakthrough in negotiations in December, overcoming investors' biggest fears: a hard Brexit."The pound edged up after Tuesday's rally following reports of a British-EU deal on a Brexit bill, meaning they can now move to talks on a future trade deal.

Bitcoin, which has ploughed to continuous records in recent weeks, finally broke $10,000 Wednesday and pushed towards $11,000.

The virtual currency hit a high of $10,903 in Asia with some commentators suggesting it is being bought as an alternative, with mainstream global markets valued too high.

But there is a worry that the rise -- it has surged more than tenfold since its 2017 low in mid-January -- will result in a massive correction.

"This is a bubble and there is a lot of froth. This is going to be the biggest bubble of our lifetimes," warned hedge fund manager Mike Novogratz at a cryptocurrency conference earlier this week.

 

- Key figures around 0710 GMT -  

 

Tokyo - Nikkei 225: UP 0.5 percent at 22,597.20 (close)

Hong Kong - Hang Seng: DOWN 0.1 percent at 29,645.57

Shanghai - Composite: UP 0.1 percent at 3,337.86 (close)

Euro/dollar: UP at $1.1866 from $1.1845 at 2155 GMT

Pound/dollar: UP at $1.3384 from $1.3354

Dollar/yen: UP at 111.48 yen from 111.39 yen

Oil - West Texas Intermediate: DOWN 30 cents at $57.69 per barrel

Oil - Brent North Sea: DOWN 43 cents at $63.18 per barrel

New York - DOW: UP 1.1 percent at 23,836.71 (close)

London - FTSE 100: UP 1.0 percent at 7,460.65 (close)

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia markets mixed after us recordsbitcoin breaks 10000 asia markets mixed after us recordsbitcoin breaks 10000



GMT 00:19 2012 Sunday ,19 February

Sky extends rugby league contract

GMT 12:34 2012 Tuesday ,07 February

New Kurdish satellite TV station goes on air

GMT 06:29 2014 Sunday ,31 August

Finally, Apple’s iWatch coming in September

GMT 04:51 2017 Thursday ,13 April

Huda Kattan among top 10 beauty influencers

GMT 08:47 2011 Monday ,25 July

Uncle Sam wants psychiatrists

GMT 09:51 2019 Monday ,19 August

Live a frustrating atmosphere in your career

GMT 19:15 2012 Monday ,20 February

Sound of music for Sky News Arabia

GMT 23:28 2012 Saturday ,25 February

Al Jazeera crowned RTS news channel of the year

GMT 09:09 2012 Friday ,13 July

Supreme Court warns Pak prime minister

GMT 19:14 2017 Monday ,06 February

Earthquake Hits Areas in Iran's Khuzestan

GMT 04:45 2017 Monday ,06 February

Chazelle wins top DGA prize for ‘La La Land’

GMT 08:18 2016 Wednesday ,03 February

Syria's war-pummelled textile industry

GMT 21:09 2016 Wednesday ,01 June

Suspected US troops attack Al Shabaab in Somalia

GMT 18:03 2015 Monday ,09 February

GCC assistant secretary-general meets Swiss official

GMT 09:27 2017 Saturday ,30 December

Cyprus president among nine candidates

GMT 02:02 2012 Friday ,10 August

Potato juice treat stomach ulcers

GMT 12:43 2013 Monday ,03 June

Mays Hamdan works on new song

GMT 06:11 2015 Thursday ,22 October

Comedian Chris Rock to host Oscars again

GMT 12:10 2012 Wednesday ,26 September

Marwa\'s plans after finishing film Christmas

GMT 06:23 2012 Friday ,13 April

Happy Feet Two

GMT 13:24 2012 Tuesday ,24 July

LeAnn Rimes in see-through top
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday