A very mixed start to the trading year across Asian stock markets today, with Japanese bourses closed, Chinese issues lifting while local stocks were dumped en masse. A lack of direction amid low volume during the Christmas/NY break is to be expected, with currencies also moving around as the USDJPY drops nearly 1% on its first trading day while the Australian dollar has oscillated around the 68 handle versus USD. Meanwhile oil prices are relatively stable with Brent crude holding just below the $86USD per barrel level while gold is making a great start to the year, breaking out to the $1840USD per ounce level for a new monthly high:
Mainland Chinese share markets are accelerating higher into the close with the Shanghai Composite lifting nearly 1% to get back above the 3100 point level, currently at 3112 points while the Hang Seng Index has bounced sharply higher, up 2% to be above the 20000 point level. Japanese stock markets are still closed with the USDJPY pair cracking below the 130 handle and looking extremely weak here as Yen appreciates amid the post BOJ pivot:
Australian stocks had steep losses with the ASX200 falling some 1.3% as confidence breaks, sending the market below the 7000 point level, finishing at 6945 points. The Australian dollar tried to get above the 68 level but suffered a clawback later in the session, remaining on its uptrend from Christmas:
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