OctaFX | OctaFX Forex Broker
Open trading account
Back

Asian stocks track Wall Street gains, Nikkei leads on weaker yen

FXStreet (Mumbai) - The stocks on the Asian bourses extended the bullish momentum into a second day on Friday, tracking the strong close on Wall Street overnight after the US CPI figures surprised on the upside while upbeat earning reports from top bankers also boosted the US stocks.

Nikkei leads Asian indices higher

The Japanese stocks had a solid start and trades with sizeable gains as improving risk sentiment and a weaker yen continue to underpin. Meanwhile, USD/JPY trades 0.19% higher at 119.11 and the Nikkei rallies 1.36% to 18,343 points.

The Australian benchmark, the S&P/ASX pared opening gains, although trades firmer on the back of rebounding oil prices and on growing expectations of further RBA easing. Mining and energy stocks are top performers, driving the index 0.69% higher to 5,266.

Stocks on the Chinese bourses are paring gains, with the mainland’s benchmark index, the Shanghai Composite up 0.40% at 3,351. While Hong Kong’s Hang Seng also defends gains, advancing 0.46% to 22,998.

USD/JPY: Bulls supported by risk-on rally in Asian equities

The USD/JPY pair recovered entire losses from the previous session, with the bulls fighting back control amid ripening risk-sentiment, as the Asian stocks extend the risk-on rally.
Read more Previous

Gold retreats from multi-month highs in Asia

The yellow metal eased in Asia and trades in the red, having failed once again near 1190 levels after the impressive US CPI figures provided the much-needed impetus to the greenback.
Read more Next
Start livechat