Asian stocks are continuing their rebound at the end of the trading week, with Chinese shares leading the charge on the back of increased domestic stimulus and a lower than expected inflation print. The USD is largely unchanged against the majors, although the Australian dollar is putting in a late charge to get back above the 68 cent level. In commodity land, oil prices are slowly clawing back some losses but remain uneasy with Brent crude slightly above the $89USD per barrel level while gold has again returned to its intraweek high just below the $1720USD per ounce level:
Mainland Chinese share markets are having a late surge with the Shanghai Composite up 0.8% currently at 3262 points while the Hang Seng Index is finally out of sell mode, up more than 2% to bounce back above the 19,000 point level, currently at 19266 points. Japanese stock markets are adding to their previous gains, with the Nikkei 225 currently 0.5% higher at 28219 points while the USDJPY pair is finally pulling back after a stonking run all week, currently at the 143 level:
Australian stocks are having modest gains, basically in line with overseas stocks despite lower commodity prices with the ASX200 currently 0.5% higher at 6882 points. The Australian dollar is trying to make a comeback with a mild lift above the 68 level after being exhausted by selling all week:
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