Asian Markets See Modest Gains As US Takes A Break 22 November 2018

Asian equities chalked up modest gains Thursday in light trading ahead of the US Thanksgiving holiday, following a rebound in energy and tech stocks on Wall Street.

Hong Kong, (UrduPoint / Pakistan Point News - 22nd Nov, 2018 ) :Asian equities chalked up modest gains Thursday in light trading ahead of the US Thanksgiving holiday, following a rebound in energy and tech stocks on Wall Street.

But analysts cautioned the tepid uplift in New York Wednesday should not be interpreted as a sign of the start of a recovery from the recent carnage on global stock markets.

Investor sentiment remains fragile following the volatility that has swept markets since October, while the OECD has warned that the world economy has peaked and faces a slowdown as it confronts the Trump administration's trade war and tighter monetary conditions.

The Dollar slipped against the euro and the pound amid reports the Federal Reserve may pause future interest-rate hikes, although the greenback recovered earlier losses against the Yen.

Crude prices resumed their downward trajectory Thursday, after a brief recovery on Wednesday.

The commodity has fallen by almost 30 percent from four-year highs touched at the start of October. Oil analysts attribute the pullback to high supply as well as a weakening global growth outlook.