Asian stock markets rallied and in the morning the regional index was heading towards the largest increase in the last six weeks. The record performance of American markets and a satisfactory earnings season have galvanized the lists.
Nissan Motor, Japan's second-largest automaker, jumped 4,6% after forecasting the biggest increase in profits since 2008. Samsung Electronics, Asia's leading electronics company, rose 1,6% in Seoul after having jumped 4% yesterday. Sharp, a Japanese electronics maker, gained 5,8% after its full-year results beat analyst forecasts.
On a positive earnings day, the MSCI Asia Pacific Index gained 0,9% to trade at 139.02 as of 9:26am in Tokyo, heading for its largest gain since March 31st. All ten industrial groups were on the upswing. As mentioned, US equities rallied and small-caps in particular rallied thanks to a particularly lively activity on the front of agreements and deals that fueled investor confidence. Federal Reserve Chair Janet Yellen is set to speak on Thursday after curbing speculation that an improving economy would lead to higher interest rates. Today, markets are awaiting Chinese data on retail sales and industrial production.
Japan's Topix rose 1,8% and South Korea's Kospi gained 0,4%. Australia's S&P/ASX 200 index advanced 0,9%, while New Zealand's NZX 50 Index was up 0,6 percent. Markets in Malaysia, Singapore, Thailand and Bangladesh were closed for holidays.
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