The MSCI Asia Pacific regional index consolidated yesterday's gains with a further slight gain of 0,1% towards the end of the day. Tokyo rises again by 0,6% with the yen weakening towards 102 against the dollar. Growth in Asia is beginning to filter into corporate earnings, and share price levels look more like a 'bull market' than a bubble.
The two-day FOMC meeting ends tomorrow in Washington and the Fed will cut its bond purchases for the sixth time. Data from the Case-Shiller indices on house prices is expected today, which should show a further modest increase (real house prices still remain 27% below the maximum level reached in March 2006). In the currency field, the euro is stable at 1,343 against the dollar. Gold changed slightly, at 1307 $/ounce, while crude oil fell again, awaiting the data on American stocks: WTI was at 101,4 $/b (Brent 107,4).
Attachments: The Bloomberg article
