Asian share markets have had a better response and follow through to the bounces on overseas markets from Friday night, despite a reluctant Wall Street overnight with Chinese shares leading the way after a stumble yesterday. Currency markets are starting to fight back against the very strong USD with the Australian dollar boucning back above the 70 level, helped by burgeoning commodity prices including oil with Brent crude now above $114USD per barrel. Gold is struggling to stabilise as it lifts just above the $1830USD per ounce level while Bitcoin looks like rolling over again, barely hanging on above $30K:
Mainland Chinese share markets are doing much better today after some better news regarding domestic COVID concerns with the Shanghai Composite closing 0.5% higher to 3077 points while the Hang Seng Index has stonked it in, up nearly 3% to finish at 20537 points. Japanese stock markets are still in recovery mode with the Nikkei up nearly 0.5% to 26659 points while the USDJPY pair remains sanguine after from its small Friday bounce, just above the 129 handle:
Australian stocks had a good session with the ASX200 up nearly 0.4% to 7112 points. Meanwhile the Australian dollar has accelerate from its swing trade after bottoming out below the 69 handle, finally reaching above the 70 level and almost putting in a new weekly high:
