PHOTO
18 April 2017
Asian stocks pulled back on Tuesday, and the dollar gave up the gains it had clocked on the U.S. Treasury Secretary's comments in support of a stronger currency, as escalating tensions over North Korea dragged sentiment lower.MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent.
Two Saudi Arabian telecommunications stocks surged on Monday on hopes that troubled operators have finally turned the corner, while Abu Dhabi real estate firm Eshraq was helped by a plan to tie up with state fund Mubadala.The Saudi stock index edged up 0.1 percent as Zain Saudi jumped 8.9 percent and Etihad Etisalat (Mobily) added 3.6 percent.
Oil prices fell back after earlier gains amid concerns over rising U.S. production and as investors took profits after three straight weeks of gains.
Gold held steady on Tuesday supported by geopolitical tensions over North Korea and after falling from a five-month high in the previous session on a firmer dollar.
In the latest news, Tunisia's economy will start to regain momentum this year after six years of slow growth, driven by the revival of the vital tourism industry and the return to state phosphate production, Prime Minister Youssef Chahed said.
Federal Reserve Vice Chair Stanley Fischer said on Monday that the muted market reaction to recent hints from the U.S. central bank that reductions to its $4.5 trillion balance sheet could begin later this year suggests the policy shift may go smoothly after all.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
Asian stocks pulled back on Tuesday, and the dollar gave up the gains it had clocked on the U.S. Treasury Secretary's comments in support of a stronger currency, as escalating tensions over North Korea dragged sentiment lower.MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent.
Two Saudi Arabian telecommunications stocks surged on Monday on hopes that troubled operators have finally turned the corner, while Abu Dhabi real estate firm Eshraq was helped by a plan to tie up with state fund Mubadala.The Saudi stock index edged up 0.1 percent as Zain Saudi jumped 8.9 percent and Etihad Etisalat (Mobily) added 3.6 percent.
Oil prices fell back after earlier gains amid concerns over rising U.S. production and as investors took profits after three straight weeks of gains.
Gold held steady on Tuesday supported by geopolitical tensions over North Korea and after falling from a five-month high in the previous session on a firmer dollar.
In the latest news, Tunisia's economy will start to regain momentum this year after six years of slow growth, driven by the revival of the vital tourism industry and the return to state phosphate production, Prime Minister Youssef Chahed said.
Federal Reserve Vice Chair Stanley Fischer said on Monday that the muted market reaction to recent hints from the U.S. central bank that reductions to its $4.5 trillion balance sheet could begin later this year suggests the policy shift may go smoothly after all.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
© Trading Middle East 2017
