A bullish end to the trading week for Asian stock markets with a rising tide across the region as risk weighs up the rising inflation threat in the US against ongoing property troubles in China. The USD remains quite firm against undollar assets except gold which is continues to consolidate above the $1850USD per ounce level while Bitcoin is basically unchanged at the back to the start of week position just on the $65K level:
Chinese shares are largely unchanged with the Shanghai Composite up just 0.1% going into close, currently at 3537 points while the Hang Seng Index is putting in a scratch session as it tries to hold on to its previous gains just above the 25000 point level, now at 25246 points. Japanese markets are loving the much lower Yen, with the Nikkei 225 closing more than 1% higher at 29581 points as the USDJPY pair breaks out again, this time matching the previous weekly highs as it tries to get through a very strong resistance level at 114.30 or so:
Australian stocks are also putting in a strong finish with the ASX200 closing 0.8% higher at 7443 points while the Australian dollar is still in depressed mode, barely holding just below the 73 handle here:
Eurostoxx and S&P futures are flatlining here as we head into the London session with the four hourly chart of the S&P500 showing price still hovering just below short term ATR support that had held throughout this buying frenzy, but note that long tail of buying support just above the 4600 point level that will give bulls some hope:
The economic calendar finishes the week with a whimper, a few BOE and ECB speeches, then US Michigan consumer sentiment survey for November.