A weekend without much bad news has translated the poor showing on Wall Street to a buoyant day on stock markets here in Asia today, with just the local Australian markets suffering. The PBOC loosened the Yuan fix substantially while the failing Bitcoin had a big bounce this morning.
The Shanghai Composite is down 0.3% to 2572 points going into the close, struggling to start the week and get quickly back above key support at the 2600 point level. The Hang Seng Index however is shooting higher, up 1.3% to 26276 points, getting back above the previous support level at 26000 points as the the daily chart is starting to stabilize:
US and Eurostoxx futures are up slightly with the four hourly S&P 500 futures chart still showing a depressed market but sliding along at the previous lows near the 2640 level:
Japanese stocks returned from their long weekend holiday with a small surge higher, the Nikkei 225 closing 0.7% higher to 21812 points. The USDJPY pair has shot higher well above both trailing ATR resistance and the 113 handle to immediately make a weekly high:
The ASX200 was the worst in the region this time, losing 0.8% to 5671 points, pushed back below the 5700 point support area. The Aussie dollar has blipped higher finally getting back above the high moving average band on the four hourly chart after bouncing off the low 72s:
The economic calendar starts the week with three major speeches by current and former central bank officials, starting with Super Mario in Brussels, then Mark Carney and Alan Greenspan in the UK later tonight.