The pandemic crisis is over:buy stocks! That’s the message from risk markets across the world at the moment, as stocks breakout of their holding patterns and all the short positions are wound back, while rational investors remain on the sidelines.
In mainland China, the Shanghai Composite is up nearly 1% to be one or two points shy of 2900, while the Hang Seng Index is the best in the region, surging over 2.2% to 24464 points, but not yet blasting off into a full blown breakout:
Japanese share markets however have broken free with the Nikkei 225 rising 1.5% to 20433 points to a new post breakdown high, while the USDJPY pair was relatively steady, slowly melting higher to the 107.40 level, ready to tackle last weeks high closer to 108:
The ASX200 was solid and stayed higher throughout the session, finishing 1.8% higher to 5559 points, while the Aussie dollar was able to gain some traction despite the Chinese trade squabbles, almost matching the previous week;s high at the mid 65 level going into the London open:
Eurostoxx futures are reliatively steady alongside US stocks with the S&P500 poised to break above its weekly resistance level at 2960 points and then make a run for it up to 3000:
