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Asian stocks track Wall Street higher, China rebounds

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The moods on the Asian markets remained lifted, with the region’s indices taking the positive lead from their US counterparts, while higher metals also supported the upside momentum. The Asian stocks remain on track for their second straight weekly gain.

    Nikkei emerges one of the best performers

    The Japanese benchmark index, the Nikkei 225 extends the previous rebound, and leads the advance in the Asian equities. The index is up 1.20% at 16,332 points. The overnight weakness in the yen provided fresh impetus to the exports stocks and the drove the index higher. Moreover, markets ignored weak Japan’s inflation data and took the yield advantage following the positive close on the Wall Street.

    The Australian markets erased losses and now defends mild gains, with the ASX 200 index gaining 0.15% to 4,887.60. Comments from China’s central bank Chief, citing that there is still more room for monetary easing, also offered support to the stocks. While the rebound in the base metals also underpinned sentiment. While the Chinese stock market also tracks its Asian rival higher, with the Shanghai Composite up 0.37%, Shenzhen’s CSI300 also trades 0.23% higher. Hong Kong’s Hang Seng rallies almost 2%.
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