www.TheLFB-Forex.com The Forex Trader Portal
Global Market Wrap:
Nikkei Jumps At Open
Equity Futures: Dow +5.00. S&P +1.00. NASDAQ +1.25. Japanese Nikkei +180.00. German Dax -12.50
Stock markets were rising in Asia at the start of the session. The Nikkei has risen 180.24 points while the Australian S&P/ASX was declining slightly by 9.10 points. Toshiba Corp has gained over 3.5 percent during the session after Credit Suisse Group more than doubled their price estimates while export company Honda Motors increased 2.12 percent after the Federal Reserve released statements saying that economic activity was picking up in the United States.
Exports from Japan have declined in August according to the trade balance report released from the Ministry of Finance. Exports abroad fell by over 35 percent from one year ago, this comes after a 36 percent decline was seen in July from the previous year. The boost in demand that was seen from abroad which helped the economy during the second quarter has faded with exports falling 0.7 percent from one month earlier.
Also released was a report about the financial stability of the economy from the Reserve Bank of Australia. The Bank notes that the nation’s domestic banks have remained “resilient” during the financial crisis. The Bank also believes that the economy is well positioned for the upcoming global rebound.
The MSCI Asia Pacific Index has increased 0.71 percent.
Overnight, Japanese markets gained 180.24 points (1.74%) to 10,550.78. The Australian S&P/Asx declined 9.10 points (-0.19%) to 4,720.20
Crude oil for October delivery was recently trading at $68.56 per barrel, lower by $0.41.
Gold for October delivery was recently trading lower by $1.80 to $1,012.60.