The stock index of emerging countries (MSCI Emerging Markets) is rising by 0,6% in the early afternoon in China, driven by another sharp increase in the Shanghai Composite index (+1,3%), which reached the lowest level high since 2010. Wall Street's new Boxing Day highs are supporting Asian markets, where the MSCI Asia Pacific Index is up 0,5%.
A measure by the Central Bank of China also helps, which allows institutions to lend more by changing the loan/deposit ratio: the definition of deposits is widened, and therefore banks will be able to expand loans by having a higher denominator.
The euro is still below 1,22 against the dollar, while the yen remains above 120. The Nikkei returns part of the gains and scores -0,6%.
Oil, thanks to fears of supply problems related to Libya, has recovered, but still remains close to $55/b (55,40 WTI, 50,90 Brent). Gold tries again to go back towards 1200, and reaches 1198 $/ounce. Wall Street futures were slightly positive (+0,1%).
