A solid up day here in Asia despite the lack of a lead from US and UK markets with a sea of green across stock markets. The USD is weakening against all the majors, save Yen, with gold still asleep on the sidelines.
In mainland China, the Shanghai Composite closed 1% higher to 2846 points, with the Hang Seng Index gapping over 2% higher to fill in a lot of the rout from Friday, closing at 23437 points. This takes it back above previous firm support at the 23300 point level, signalling everything is fine in the rogue island for now:
Japanese share markets continued their very good start to the week with the Nikkei 225 closing 2.5% higher to 21217 points, while the USDJPY pair was able to gain further momentum from its Monday open, closing in on last week’s high at the 107.80 level:
The ASX200 was the big performer again with all the shorts seemingly wiped out, pushing the market up nearly 3% to close at 5780 points, while the Aussie dollar played catchup against the USD, almost bursting through the 66 handle trying to recover lost ground from its rollover on Friday:
Eurostoxx futures are up over 1% with US futures up more than double that as Wall Street plays catch up to the ebullient mood. The S&P500 four hourly chart shows the broader stock market wanting to push back above the previous highs and make a run for 3000 as Wall Street goes ga-ga:
