Prime Minister Shinzo Abe's announcement of early elections and budget stimulus (in addition to monetary stimulus) to the economy is just around the corner. The Japanese stock market recovers after Black Monday, when the Nikkei index had lost 3% following the second consecutive quarter of decline in Japanese GDP: it is now rising by 2,1%.
The MSCI Asia Pacific regional index, on the other hand, recorded a smaller increase, of 0,4%, weighed down by Shanghai, which lost 1% after the announcement of a fall in house prices in October, in 69 of the 70 cities surveyed ( China's stock index is relatively cheap, trading at 9,1 times this year's earnings estimate).
The yen resumed its depreciation, reaching 116,6 against the dollar, the most depreciated level since 2007.
The euro fell against the dollar, to 1,247. The price of gold has always supported, at 1186 $/ounce. WTI crude is little changed, at 75,3 $/b (Brent is at 78,9). Futures on Wall Street are stable, those on London are positive.
