Asia goes up thanks to American data and Chinese profits
Another historic record for the S&P500 on Wall Street has stoked optimism in Asia. The MSCI Asia Pacific regional index is climbing 0,6% to a six-month high (Nikkei: +0,3% in early Japanese afternoon).
The good mood of the US Stock Exchange is also due to the economic data, all higher than expected. Durable goods orders unexpectedly rose (and the prior month was revised up), the services PMI surged and the Conference Board data on household confidence was up. But there are also local reasons for the Asian mood: in China, corporate profits increased by 10% in the first four months of the year compared to the same period of the previous year.
And the impression is that the target of real growth this year of 7,5% of GDP can be achieved. Gold sank to 1264 $/ounce, stable the euro (1,363) and the yen (101,93). Oil (WTI) still high at 104,10 $/b.
