Asian markets, euro build on gains as eyes move to Trump: HumSub.TV
Asian markets, euro build on gains as eyes move to Trump: HumSub.TV: Asian markets extended gains Tuesday while the euro held up following Emmanuel Macron’s first round presidential election win in France, with investors now looking forward to Donald Trump’s promised tax reforms.
Global markets soared Monday after Macron topped the initial polls and looked well on course to beat hit run-off rival, far-right candidate Marine Le Pen, next month.
There had been fears a win for the anti-European, anti-immigrant Le Pen could see France pull out of the euro and even the EU and precipitate its possible collapse.
US and European markets tracked an Asian advance Monday. And on Tuesday the gains continued with Tokyo up 0.8 percent by the break, Hong Kong also jumping 0.8 percent and Seoul 0.4 percent higher.
Shanghai, which has suffered a series of losses in the past two weeks on concerns about a government crackdown in leveraged investing, edged up 0.2 percent.
And on currency markets the euro, which briefly broke $1.09 Monday for the first time in almost a month, was hovering around $1.086, while it also held at 119.50 yen, well up from levels around 117 yen before France’s vote.
“With the market pricing in an amiable scenario for risk assets in the second round, investors should continue to feed off this,” said Stephen Innes, senior trader at OANDA.
Now attention moves to the United States where Trump is due to unveil his much-vaunted tax overhaul Wednesday, which will call for cuts to personal and corporate rates, Bloomberg news reported a White House official as saying.
Trump’s pledge to slash taxes and boost infrastructure spending were key drivers of a global market rally after his November election, though the past few weeks have seen a retreat as he failed to pass key healthcare legislation, throwing the agenda into doubt.
However, there was a sense of trepidation as North Korea celebrates the 85th anniversary of its army, with fears Kim Jong-Un could press on with his recent sabre-rattling with the US by conducting another nuclear or missile test.
Growing tensions between Pyongyang and Washington have fanned worries about a possible conflict in East Asia.
Another source of concern among traders is the threat of another costly US government shutdown as Trump heads for a face-off with Democrats over funding his controversial Mexican border wall.
Building the wall was a key election promise and he is determined to get Congress to approve a downpayment as part of a bigger bill to keep the US government funded.
The two sides have until Saturday to pass the bill or face the first shutdown since a 16-day closure in 2013 that cost the government billions of dollars.
Asian markets, euro build on gains as eyes move to Trump: HumSub.TV
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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