Most Asian markets advance after Wall Road's Friday rebound; oil costs rise

Most Asian markets advance after Wall Road's Friday rebound; oil costs rise

Global stock markets rose Monday after Wall Street gained following a turbulent week.

EUROPE: In Europe, Germany's DAX jumped 1.8% to 12,324 and France's CAC 40 advanced 1.4% to 5,152.

South Korea's advanced 0.91 percent to close at 2,385.38, with heavily weighted technology stocks higher on the day.

Down Under, the S&P/ASX 200 shed 0.64% as earnings season continued. Japanese markets were closed for a holiday.

The regional index, MSCI Asia-Pacific, expanded by 1% compensating some of the loses from last week, when wiped out 7.3%.

Stocks are surging in early trading on Wall Street, sending the Dow Jones industrial average up as much as 300 points in early trading.

INDICES: The Dow industrials were up 270 points, or 1.1%, to 24,461 at 9:35 a.m. The Standard & Poor's 500 rose 1.5 per cent to 2,619.55. For the week, the three indexes finished down more than 5 percent. The Nasdaq composite gained 74 points, or 1.1%, to 6,948. They're also now all in the red for the year.

"The severity of the falls globally. suggest we may have already seen the worst, but with bond yields likely to go back up further and uncertainty about how much the unwinding of short volatility positions has to go, further weakness can not be ruled out in the short term", Shane Oliver, head of investment strategy at chief economist of AMP Capital, said in a Friday note. "The threat to valuation multiples is unlikely to remain as high as it seemed last week". The global rout in stock markets began earlier this month when the Dow lost 666 points after a stronger-than-expected jobs report saw USA bond yields rise. "We still see 2018 as the best post-financial crisis year".

WEEK AHEAD: Taiwan reports quarterly economic growth on Tuesday.

WEEK AHEAD: Investors will watch USA inflation and retail sales figures on Wednesday particularly closely. Japan reports economic growth on Wednesday and the United States issues factory output data on Thursday.

ENERGY: Benchmark U.S. crude gained 98 cents to $60.18 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.95 on Friday to close at $59.20. Brent crude, used to price worldwide oils, advanced 82 cents to $63.62 in London.

In currencies, the dollar index, which tracks the U.S. currency against a basket of rivals, stood at 90.352. The euro gained to $1.2267 from $1.2251.

Related Articles

  • Funeral for ex-Celtic and Hibs midfielder Liam Miller held

    Funeral for ex-Celtic and Hibs midfielder Liam Miller held

    FORMER Man Utd and Celtic footballer Liam Miller's funeral has taken place today after the star's tragic cancer death on Friday . Liam's motivation, as it has always been, was for others and specifically for his family. "They are all that mattered to him".
    Alexa and Google Assistant Smarter Than Siri on HomePod , New Test Shows

    Alexa and Google Assistant Smarter Than Siri on HomePod , New Test Shows

    One of the video tutorials teaches you how to tweak the speaker's settings via your Home app on your smartphone. The situation is such that attempting to fix one yourself will most likely result in more damage being caused.
    Apple investigating AirPod earbud explosion in Florida

    Apple investigating AirPod earbud explosion in Florida

    Such explosions are caused by overheated batteries, which can damage the device beyond fix when they blow up. An Apple spokesperson said that the company is looking into the case and will reach out to Colon.
  • Nintendo hint at some of the Switch online benefits

    Nintendo hint at some of the Switch online benefits

    Nintendo has promised something big when it's time for it to officially introduce its Nintendo Switch Online paid service. Takahashi went on to tease that Nintendo's upcoming announcement about the Switch's online service will be some big news.
    Dan Gilbert's son scheduled for brain surgery to treat tumor

    Dan Gilbert's son scheduled for brain surgery to treat tumor

    When asked about his dad calling him a hero, Nick answered with, "What's not to like?" which took on a life of its own. Nick, who Greene noted attends Michigan State, has 25 percent vision in his left eye and can not see out of his right.
    Sort out Karnataka system first, D Jayakumar tells Rajinikanth

    Sort out Karnataka system first, D Jayakumar tells Rajinikanth

    But Rajinikanth had clarified then that by "spiritual politics" he meant politics that was above "caste, creed and religion". Jayakumar was reacting to Rajini's comments on Thursday that "the system has to be set right in Tamil Nadu".
  • Bobby Deol says, 'He would do anything for Salman Khan'

    Bobby Deol says, 'He would do anything for Salman Khan'

    Salman Khan and Jacqueline Fernandez are all set to return to the big screen with yet another action thriller in Race 3 . To which, he had said, "You can't compare an actor's work to the box office results of his previous films".

    Wesco Aircraft (WAIR) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

    Wesco Aircraft Holdings had 28 analyst reports since August 7, 2015 according to SRatingsIntel. (NYSE:WAIR) for 794,291 shares. It increased, as 11 investors sold WAIR shares while 27 reduced holdings. 15 funds opened positions while 39 raised stakes.
    Priya Varrier robs hearts with her expressions

    Priya Varrier robs hearts with her expressions

    And she sure makes for a stunning muse for the camera! She is having a huge fan following on Instagram and on twitter as well. On Sunday, most of the social media users, the youth especially, shared their status with the video clip of the film.
  • France's Martin Fourcade holds nerve to clinch biathlon pursuit gold

    France's Martin Fourcade holds nerve to clinch biathlon pursuit gold

    It didn't take Martin Fourcade long to erase an "extremely disappointing" showing at the 2018 PyeongChang Olympics. It was the one that I have never won at the Olympics.
    Will Germany's Social Democrats Take One More Chance on a Grand Coalition?

    Will Germany's Social Democrats Take One More Chance on a Grand Coalition?

    The governor of Schleswig-Holstein state, Daniel Guenther, said earlier in daily Die Welt that "we need new faces" in the Cabinet. Others called for a renewal of the Christian Democrat leadership, a barely disguised push for Merkel's replacement.
    What's Unforlding For Shares of S&P Biotech SPDR (XBI)

    What's Unforlding For Shares of S&P Biotech SPDR (XBI)

    The latest reading places the stock below the Ichimoku cloud which indicates negative momentum and a potential sell signal. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements.