A better session across the board for Asian stocks today following the upside volatility on Wall Street overnight from the debt ceiling impasse. Local stocks advanced despite a higher than expected jobless rate with the Australian dollar still hovering at a new weekly low as it heads to the low 66 cent level.
Oil prices are holding on to their modest overnight gains with Brent crude just below the $77USD per barrel level while gold is slipping again after losing further ground last night below the key $2000USD per ounce level.
Mainland Chinese share markets have taken back some of their gains but look like closing higher with the Shanghai Composite up 0.3% at 3295 points while the Hang Seng is nearly 0.6% higher but still shy of the 20000 point level, currently at 19661 points. Japanese stock markets are still the best performers, extending into the 1990 closing levels with the Nikkei 225 lifting more than 1.6% higher at 30573 points with the USDJPY pair advancing further above the 137 handle.
