Saudi, British FMs discuss regional developments in phone call    Saudi Arabia unveils new skill-based system for expatriate work permits Classification for existing workers began on June 18 while July 1 set for newcomers    New Saudi embassy building inaugurated in Moscow    Nearly 17 million foreign pilgrims perform Umrah in 2024, up 101% from 2022 Makkah ranks 5th globally in number of international visitors    Saudi Arabia reaffirms dedication to achieving equitable and sustainable digital development    Over 80,000 commercial registrations issued in 2Q 2025, bringing total to 1.7 million    Elon Musk announces launch of new political party amid fallout with Trump    UK Foreign Secretary makes historic visit to Syria    Khamenei makes first public appearance since Iran–Israel war    Desperate search continues as Texas flood kills 51, including 15 children 27 girls from summer camp still missing    Riot Games responds to match-fixing allegations in VALORANT    BLAST responds to BESTIA Visa controversy ahead of CS2 Austin major    Christophe Galtier named NEOM SC head coach ahead of historic Saudi Pro League debut    Level Up Docuseries launches June 6 on Prime Video    OPEC+ further accelerates oil output hike by 548,000 bpd in August    Saudi Arabia tops global ICT Development Index for 2025    Michael Madsen, actor of 'Kill Bill' and 'Reservoir Dogs' fame, dead at 67    BTS are back: K-pop band confirm new album and tour    Michelin Guide launches in Saudi Arabia with phased rollout in 2025    'How fragile we are': Roskilde Festival tragedy remembered 25 years on    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Asian Shares Rise
Published in Saudi Press Agency on 28 - 09 - 2020

Asian markets were powered on Monday by signs China's economic recovery was gaining momentum with pent-up demand, fiscal stimulus and surprisingly resilient exports boosting sentiment across the region.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.7% to 551.48, but stayed within striking distance of a two-month low of 543.66 hit last week.
The index is set to end the month deep in the red after three straight monthly gains as the coronavirus pandemic continues to wreak economic havoc around the world and raises investor anxiety about sky-high valuations, Reuters reported.
On the day, Chinese shares opened higher and helped to underpin Asian markets after a tentative start. The blue-chip CSI 300 index was last up 0.3%, paring some of the early gains.
Elsewhere, Japan's Nikkei was 1.3% higher, partly on a lower yen, while South Korea's KOSPI index gained 1.35%.
Australia's main share index reversed early losses to finish flat.
The broad gains in Asia follow a Wall Street rally on Friday though analysts expect the gains to be short-lived as expectations for economic growth start to falter.
In currencies, the dollar slipped from a near a two-week high against the Japanese yen to 105.32.
The euro was last at $1.1629, not far from a two-month trough of $.1611 touched on Friday.
The British pound rose 0.3% to $1.2774.
The risk sensitive Australian dollar was slightly firmer at $0.7052 after falling for six consecutive sessions as odds narrowed over the prospect of further monetary policy easing in the country.
In commodities, oil prices came under pressure as renewed mobility curbs in various countries to contain a resurgence of coronavirus cases cloud the outlook on fuel demand recovery.
U.S. Brent crude slipped 37 cents to $41.55 a barrel while U.S. light crude was down 39 cents at $39.86. Gold was a shade weaker at $1,858.2, drifting away from an all-time peak of above $2,000 an ounce touched in August.


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