Asian Shares Up As Syrian Strike Appears To Be A One-Off Event


Asian shares market had a positive start on Monday amid relief U.S.-led strikes on Syria looked like being a one-off event that avoided a direct confrontation with Russia, weighing on oil prices and safe-haven Treasuries.

EMini futures for the S&P 500 jumped 0.6 percent higher in early trade, while Japan’s Nikkei added 0.3 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed up about 0.1 percent.

The United States, France and Britain had fired 105 missiles which targeted three chemical weapons facilities in Syria. The act was considered retaliation for a suspected poison gas attack in Douma on April 7.

Vladimir Putin warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions.

However, with President Donald Trump declaring that the operation was “mission accomplished”, investors wagered that the worst had most likely been avoided.

Looking ahead, the U.S. earnings season carries on into high gear this week with certain data predicting profits at S&P 500 companies had increased by 18.6 percent in the first quarter from a year ago, their biggest rise in seven years.

However, with expectations so high, bank shares ran into profit-taking on Friday after a batch of mixed results.


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