Another positive result for Asian markets on this first post-Christmas trading day. Volumes are still thin, but the MSCI Asia Pacific regional index is up 0,4%, continuing its seven-session gains streak. Performance is driven by Japan: the Nikkei, driven by a depreciating yen (104,7 against the dollar), is rising in the early afternoon in the Far East, by 0,9% (but the Topix, which has a larger capitalization wide, grows by 1,8%).
In Shanghai, the Stock Exchange, which yesterday was the only one open and had recorded a sharp increase, is giving back part of its gains. Meanwhile, China continues to pay the price for growth: the anti-pollution alarm has sounded in Shanghai, with particulate matter exceeding the alarm level.
The euro is stable against the dollar, at 1,368 and strengthens against the yen at 143,4: the highest exchange rate since September 2008 (the month of Lehman Brothers). Oil, which 'feels' favorable conditions for growth, is approaching 100, reaching 99,4 $/b at mid-day. Gold wearily returned to 1200, at 1204 $/ounce.
