Nikkei Recovers Yesterday’s Losses

Asian indices and Nikkei finished higher as stock investors cheered dovish comments from New York Fed President John Williams and strong earnings from Microsoft. The Hang Seng finished 1.06 percent higher at 28,7628, the Shanghai composite ended 0.78 percent higher to 2,923 and the Singapore Straits Times index finished 0.36 percent higher at 3,372. Aussie stocks ended 0.80 percent higher at 6,700. In Japan the main benchmark, Nikkei 225 outperformed as it finished 2.00 percent higher at 21,466. Japan May all industry activity index registered at +0.3% versus +0.3% m/m expected while the Japan National Consumer Price Index (year over year) matched forecasts of 0.7% in June. The move today by the Nikkei regenerated the positive momentum and an attempt to 21,700 looks possible.

In Asian forex markets USDJPY trading 0.21 percent lower at 107.59, the Aussie dollar trades 0.14% lower against greenback at 0.7064 while Kiwi trades higher at 0.6777 versus USD. Gold makes new highs at 1,440, while crude oil is 1.05 percent higher at $55.88 per barrel.Don’t miss a beat! Follow us on Twitter.

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