Treasury Daily CirculationMarket CommentaryExchange RatesTwin Currency Deposits Last Updated: Wednesday, 22 October 2014
 Some Stocks Indices
 Name  Value Change
 Dow Jones  Industrial Average 16,614.81  (+ 215.14) 
 Strait Times  Industrial Index 3,202.74  (+ 21.69) 
 Kuala Lumpur  Stock Exchange 1,796.22  (- 6.92) 
 Nikkei 225 15,031.73  (+ 227.45) 
 Crude & Gold Price
 Brent Crude Oil USD 86.24  (+ 0.02) 
 Gold Bullion USD 1,247.85  (- 0.85) 
  FX REVIEW :

The yen strengthened for the first time in four days against the US dollar as Asian stocks fell and traders pushed back estimates for when the Federal Reserve will increase interest rates. Japan’s currency rose versus all of its 16 major counterparts as demand for haven assets was boosted as the Nikkei 225 Stock Average slid 2 percent. The Australian and New Zealand dollars strengthened after China’s factory output and economic growth expanded more than analysts forecast. South Korea’s won climbed to the strongest level this month.

  FX OUTLOOK:

“The weakness in dollar-yen is correlating very closely with the decline in the Nikkei,” said Sean Callow, a currency strategist at Westpac Banking Corp. in Sydney. “A lot of it gets back to the market still being lopsided, the speculative market having been long dollar-yen in an environment where the risks on U.S. data surprises are tilted to the downside,” he said, referring to a bet an asset will rise.

  STX REVIEW :

U.S. stocks rallied for a third day as optimism over corporate earnings spurred a rebound from last week’s selloff. Apple Inc., which rose 2.1 percent during regular trading, gained after exchanges closed on higher-than-forecast sales. U.K. stocks advanced, led by gains in Shire Plc and Asos Plc. Shire added 2.4 percent. Asos Plc surged 17 percent after annual profit exceeded estimates. Ophir Energy Plc climbed 3.7 percent after reporting good gas flow rates from a well in Equatorial Guinea. Japanese shares fell, after the Topix index rallied the most in more than a year yesterday, as a stronger yen weighed on exporters and machinery stocks led declines.Hong Kong stocks rose, after swinging between gains and losses for most of the day, as investors weighed China economic data. China Mobile Ltd. dropped after profit slowed a fifth quarter.

  STX OUTLOOK:

Asian stocks fell after the regional benchmark yesterday rose the most in two years as China economic data tempered expectations for broader stimulus.

 
  DISCLAIMER:

This daily commentary and report is subject to change without notice. For the latest information, please call the Treasury Department: Ak Nizam (673) 226 8305, Siew Yong (673) 226 8306 or Chiao Min (673) 226 8307.

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