A generally positive end to the week here in Asia with most stock markets putting on meaningful gains, buoyed by positive numbers out of China and Japan, plus a higher USD suppressing local currencies.
The Shanghai Composite is ticking along, only up a few points going into the close and remaining above 2900 points at 2945. The Hong Kong Hang Seng Index is up nearly 0.5% to be at 28760 points as it tries to pull itself out of a near week long malaise after rising too fast from its recent trend line:
US and Eurostoxx futures have pushed higher with the latter S&P 500 tonight again trying to break through the psychologically important 2800 point level that has been staunch resistance all week:
Japanese stock markets were the best performers due to a much weaker Yen with the Nikkei 225 about to close over 1% at around 21623 points, making a new daily and weekly high, hitting a high note to finish the week. The USDJPY pair is behind all this, leaping higher after last night’s breakout above the 111 handle, now at the 111.60 level and possibly getting ahead of itself as momentum kicks into high gear:
The ASX200 finished just short of the 6200 point level, up 0.4% to 6192 points, helped along by a much lower Australian dollar and a buoyant manufacturing PMI print. The Australian dollar was unable to hold its bottoming action from last night’s dump and is well below the 71 handle going into the City open:
The economic calendar finishes the week with two major releases – German unemployment and US ISM Manufacturing. Have a good weekend, Houses and Holes should be back on Monday!