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Asian stocks track Wall Street gains, Nikkei leads on weaker yen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The stocks on the Asian bourses extended the bullish momentum into a second day on Friday, tracking the strong close on Wall Street overnight after the US CPI figures surprised on the upside while upbeat earning reports from top bankers also boosted the US stocks.

    Nikkei leads Asian indices higher

    The Japanese stocks had a solid start and trades with sizeable gains as improving risk sentiment and a weaker yen continue to underpin. Meanwhile, USD/JPY trades 0.19% higher at 119.11 and the Nikkei rallies 1.36% to 18,343 points.

    The Australian benchmark, the S&P/ASX pared opening gains, although trades firmer on the back of rebounding oil prices and on growing expectations of further RBA easing. Mining and energy stocks are top performers, driving the index 0.69% higher to 5,266.

    Stocks on the Chinese bourses are paring gains, with the mainland’s benchmark index, the Shanghai Composite up 0.40% at 3,351. While Hong Kong’s Hang Seng also defends gains, advancing 0.46% to 22,998.
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