Asian markets rose again today hitting multi-month highs. Investors like seeing a more aggressive monetary plan from Japan and progress in the US financial cliff talks.
Today, the bank of Japan will start a 2-day meeting. Everyone is expecting further easing because of Shinzo Abe’s victory and the adopting of a 2 percent inflation target.
The Nikkei has now risen above the 10,000 mark for the first time since April. The benchmark was up 1.3 percent to close at 10,050.30. Toyota Motor rose 2.2 percent after announcing its keeping its global targets the same for 3013. Sharp rose another 5.2 percent today. This is its seventh straight day of gains.
Hong Kong markets rose to 16-month highs. The Hang Seng was up 166 points to close at 22,652. The Shanghai, on the mainland, was down 0.2 percent.
The market in South Korea was closed for Presidential Elections today.
The Australian S&P/ASX rose 19 points to 4614.10.
The USD/JPY rose back above 84.00 and can test 84.70 and then 85.00. The EUR/JPY is at 11.63 and can test 112.00 at some point.
DISCLOSURE AND DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.
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Asian Markets Hit Multi-Month Highs
Published 12/19/2012, 05:43 AM
Updated 02/02/2022, 05:40 AM
Asian Markets Hit Multi-Month Highs
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