Markets in Asia have rebounded having absorbed the Chinese virus fears with a sea of green across stocks and European/US futures looking bullish.
Chinese stocks have moved higher in solid reversals, with the Shanghai Composite rising nearly 0.4% to close at 3063 points, while the Hang Seng Index arrested its very sharp fall from yesterday, closing 1.2% higher at 28311 points. This keeps it above trailing support but still poised here and not yet back above its previous high:
Japanese share markets did well as Yen sold off with the Nikkei 225 rising nearly 0.8% to 24031 points, getting back above the key 24000 point resistance level. The USDJPY pair has bounced off its own daily and weekly support line and is just hovering over the 110 handle:
The ASX200 did exceptionally well given the modest returns on Wall Street overnight, lifting nearly 1% higher to close at 7132 points to a new record high. The lower Aussie dollar helped here, making new session lows with a late recovery, but still below the previous two weeks of price action:
Both S&P and Eurostoxx futures have lifted nearly 0.5% in line with the risk on mood in Asia, with the four hourly chart of the S&P500 showing a new record high and a return to the ridiculous uptrend line above:
The economic calendar is relatively quiet tonight with only the Canadian CPI print to watch out for, with the main game being in Davos and the US Senate.