Asian stock markets are still lifting across the region in response to the continued bounces on Wall Street and European bourses overnight, with the Hang Seng Index putting in a stonking session. The RBNZ has surprised with a 50bps rate rise which has put the Australian dollar back in its place while other undollars remain strong against the USD. Meanwhile oil prices are lifting going into the overnight sessions, with Brent crude still above the $90USD per barrel level while gold is pushing higher after breaking through the $1700USD per ounce level in the previous session:
Mainland Chinese share markets are closed all week for National Day holidays while the Hang Seng Index has reopened with gusto, up more than 5% in afternoon trade, currently at 17974 points. Japanese stock markets are much more modest today, with the Nikkei 225 up only 0.3% higher at 27085 points while the USDJPY pair is trying to get back above the 144 handle after last night’s mild retracement:
Australian stocks are doing much better, helped by the lower Aussie dollar, with the ASX200 up more than 1.6% to climb above the 6800 point level going into the close. The Australian dollar is being contained by the NZD due to the outsize RBNZ rate hike, still unable to head back above the 65 handle:
