Its a very solid start to the trading week here in Asia with all stock markets rising following the strong lead from Wall Street on Friday night. The USD is selling off, particularly against Kiwi and Aussie as Yen buying fails to bring the bears out in Japan either as PM Abe indicates more cash handouts are on the way.
The Shanghai Composite is up 0.4% going into the close, currently at 2819 points while the Hang Seng Index is surging much faster, currently up nearly 2% to 24383 points, as daily price action bounces off the recent daily lows:
Japanese share markets are doing even better with the Nikkei 225 closing nearly 2.7% higher to 19783 points, just short of the important 20000 point level as the USDJPY pair finally breaks out of its current funk to crack down to the 107 handle:
The ASX200 was the middle of the road mover, eventually closing 1.5% higher to 5321 points, despite the Aussie dollar rallying strongly to make a new weekly high well above the 64.50 level as USD grows weaker:
Eurostoxx futures are up over 2% while S&P futures are lifting, currently up 0.6% or so with the four hourly chart of the latter showing a potential return to the sub 2900 point highers reached a couple weeks back – feels like a century!
