Stock markets across Asia are up across the region, although Japanese shares are still unable to advance due to local economic events and comments from Governor Kuroda with the regional bank crisis in the US still in the back of everyone’s mind as Wall Street futures remain hesitant at best. Currency markets are still holding on to their gains against USD with the Australian dollar pushing slightly higher above the mid 66 cent level while oil prices have lifted marginally but Brent crude remains quite depressed at well below the $78USD per barrel level. Meanwhile gold continues to retrace after zooming too high and too fast, about to cross below the $1900USD per ounce level:
Mainland Chinese share markets are lifting well going into the close, with the Shanghai Composite up by nearly 0.6% but is still below the 3300 point barrier at 3263 points while the Hang Seng has lifted just over 1.3%, trying to take back the previous gains, currently at 19438 points. Japanese stock markets remain caught up in the volatility but the Nikkei 225 managed to close dead flat at 27217 points while the USDJPY pair has continued to lift off its recent low to push above the 134 mid level as part of a minor swing play:
Australian stocks were again unable to escape the selling with the ASX200 closing nearly 0.9% higher to bounce strongly off the 7000 point level, finishing at 7068 points. The Australian dollar is pushing slightly higher to almost cross the 67 cent level:
Eurostoxx and US futures are trying to hold on to their overnight gains, with the S&P500 four hourly chart showing price action holding somewhat at the 3950 point level but is banging up against overhead resistance. A point of control is developing here, albeit with a bearish bias so watch for moves either side of this symmetrical triangle pattern:
The economic calendar includes US retail sales tonight.