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28 Aug 2015
Nikkei leads Asian indices higher, rally extends
FXStreet (Mumbai) - Asian markets extended their upbeat momentum for the second day in a row on Friday, following positive cues from Wall Street overnight while stronger USD and recovery in commodities also added to the upbeat sentiment.
China stocks continue to recover
Japan’s stocks extend its recent run of gains backed by weaker yen after Japan’s month-nd data disappointed markets. Japan’s national core CPI inflation flat in July, however, household spending unexpectedly fell in July, down 0.2% rather than the forecast 0.9% rise.
The USD/JPY cross hovers above 121 barrier during mid-Asia, +0.05% on the day. The Japanese benchmark, the Nikkei 225 is gaining nearly 3% at 19088.
Chinese equities also extends their recovery mode and follows the Asia rally, all three main US bourses closed more than 2% in the green overnight, while crude futures surged 9%, and the US dollar continued to rebound after a sloppy start to the week.
The Shanghai Composite index advances nearly 2% at 3,140 points. The Hong Kong's benchmark Hang Seng index gains 0.50% at 21,935. Among other Asian indices, the benchmark Australian S&P/ASX 200 index rallies 0.66% at 5268 with Australian oil and gas miners up sharply on higher oil prices. Korea's benchmark Kospi index now trades 1.51% at 1,936 points in Seoul.
China stocks continue to recover
Japan’s stocks extend its recent run of gains backed by weaker yen after Japan’s month-nd data disappointed markets. Japan’s national core CPI inflation flat in July, however, household spending unexpectedly fell in July, down 0.2% rather than the forecast 0.9% rise.
The USD/JPY cross hovers above 121 barrier during mid-Asia, +0.05% on the day. The Japanese benchmark, the Nikkei 225 is gaining nearly 3% at 19088.
Chinese equities also extends their recovery mode and follows the Asia rally, all three main US bourses closed more than 2% in the green overnight, while crude futures surged 9%, and the US dollar continued to rebound after a sloppy start to the week.
The Shanghai Composite index advances nearly 2% at 3,140 points. The Hong Kong's benchmark Hang Seng index gains 0.50% at 21,935. Among other Asian indices, the benchmark Australian S&P/ASX 200 index rallies 0.66% at 5268 with Australian oil and gas miners up sharply on higher oil prices. Korea's benchmark Kospi index now trades 1.51% at 1,936 points in Seoul.