A solid day across Asia despite the poor lead overnight from the lack of trading in the US and the pullback in European stocks. Only Aussie stocks pulled back as the USD regained a small amount against the majors, including Yen, after being pummelled for nearly a week. Bonds were largely unchanged while gold advanced slightly as other commodities retreated inversely to the gain in USD.
In mainland China the Shanghai Composite has come back after its poor start to the week yesterday, currently up 0.5% after the long lunch break at 3427 points and still holding on to its gains above resistance at 3400 points. The Hang Seng Index continues to advance, up another 1% to 31676 points as this uptrend blows up ever higher into new yearly highs:
S&P futures are suggesting a mild return to risk for Wall Street tonight as the 2800 level approaches (anyone down for 3000 as the peak? Anyone? Bueller?)
Japanese stocks had no problem bouncing at the Yen retreated slightly with the Nikkei 225 closing up 1% higher to 23951 points. The USDJPY pair has finally found some support here at the 110 handle, lifting up to 110.80 in what looks like a short lived short covering move. Note how the high moving average is not yet under any threat:
The ASX200 is in real trouble here, unable to put on any gains as other bourses pass it by. The market closed down 0.5% lower to 6048 points, the main victim the banks as traders react to a Fitch report and the Royal Commission.
The Aussie dollar has finally paused here, retreating ever so slightly from the near 80 cent level against USD , but has found very strong intra-session support at the 79.50 level:
The economic calendar has two events to keep an eye on, first its the December CPI print for the UK, then a series of Treasury auctions in the US.