Another solid day on stock markets across Asia following the moves higher on Wall Street overnight with Chinese stocks leading the way as expectations for the US/China trade deal become more positive. The Australian dollar launched on the sentiment survey while the Yuan remained firm against USD.
The Shanghai Composite closed nearly 2% higher, making big gains now after clearing 2600 points previously, up to 2721. The Hong Kong Hang Seng Index closed 1% higher to remain well above 28000 points, finally able to make a significant new daily high here, clearing the previous highs:
US and Eurostoxx futures are up too with the latter S&P 500 futures looking very optimistic for tonight’s session as all the areas of local resistance have been cleared, it’s time for a run to 2800:
Japanese stock markets continued their own surge, with the Nikkei 225 closing more than 1% higher to 21134 points. A weaker Yen is helping with the USDJPY pair pushing higher past the mid 110’s after a small stall overnight. There is continued upside here to least at 112 or even 114:
The ASX200 was the weakest across the region, pulling back from its previous gains to be down 0.3% but still well above the 6000 point barrier at 6063 points. The Australian dollar launched through the 71 handle on the back of the positive sentiment survey with a lot of short covering going on after finding a bottom here at the January lows:
The economic calendar has a double CPI print tonight – in the UK and then US – plus DOE oil inventories.