THE RACE OF ASIAN EXCHANGES CONTINUES, TOPIX +0,6%
Le Asian bags they traveled for the fourth consecutive day to a six-month high. Prices of many industrial metals rose on hopes that financial institutions will support the global economy. On the currency front, the strengthening of the Australian dollar should be noted.
The MSCI Asia Pacific Index it was up 0,3% as of 10:04 am in Tokyo, moving towards its best close since November 29. Japan's Topix also did well, rising 0,6% to its highest level since April 4. The “aussie” gained 0,3% against the US dollar.
US markets resume activity after yesterday's break: Data on durable goods orders and house prices are on the way, along with the Richmond Federal Reserve manufacturing index and a consumer confidence reading. In Asia, Vietnam accused China of attacking and sinking a Vietnamese fishing vessel. The president of the ECB Mario Draghi has declared his intention to act on low inflation, while recent statements by the Chinese premier have fueled speculation on new interventions to support the economy.
"There is still concern about the Chinese slowdown and I think the government will have to do something to stabilize the situation," said Mark Lister, head of private wealth research at Craigs Investment Partners in Wellington. "But investors are starting to feel optimistic about the US economy."
The Nikkei 225 Stock Average was up 0,7% for the week after jumping 1% yesterday. The Australian S&P/ASX 200 was little changed, while the Kospi (-0,1%) and the New Zealand NZX 50 (-0,1%) were down slightly.
