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Asian Markets Gain despite Weakness on Wall Street

asianAsian equity markets rose Tuesday morning despite a slip on Wall Street overnight. There ae rising geopolitical tensions between the western powers and Saudi Arabia over a missing and presumed dead journalist. This capped gains in the Asian and Pacific Rim this morning.

The Asian benchmark in Japan, the Nikkei 225, was up in the morning. Shares tacked on 0.65 percent. The broader Topix index was also up this morning. The index gained 0.43 percent. Shares of Softbank recovered this morning. They rose 3.22 percent after yesterday’s selloff.

In South Korea, the Kospi composite index was also higher this morning. Shares tacked on over half a percent.

In Hong Kong, the Hang Seng Index was higher. Shares rose 0.94 percent in early morning trade hours. On the Chinese mainland, the composite gained 0.88 percent. The smaller Shenzhen composite was up nearly 0.45 percent.

Asian Investors digest Chinese Economic Data

Traders digested regional economic data this morning. China’s consumer inflation for the month of September gained 2.5 percent. This is year on year and was up 0.7 percent in August. Data, official government numbers, showed that producer inflation cooled down from gains of 4.1 percent for the month of August.

In Australia, the S&P ASX 200 was also up. This index tacked on0.54 percent. Most sub-sector were higher. The weighted financials sub-index was up 0.56 percent. The Big Four banks gained this morning. Share of Australia and New Zealand Banking Group (ANZ) gained. They rose 0.39 percent. Shares of the Commonwealth Bank of Australia rose 0.29 percent. Share of National Australia Bank (NAB) tacked on 0.55 percent.

About David Frank

David has his MA and PhD in Economics. He is a technical analyst who has been trading in the Forex world for over a decade. As an analyst and trader, David believes in the big picture by blending together technical analysis with the fundamentals behind the scenes in the Forex and Bond markets. David’s trading strategy is unique. He blends an understanding of fundamental and macroeconomics with technical analysis to offer a unique view into Forex. He applies several strategies including carry long positions, to take advantage of high yields in non-volatile markets, as well as using quicker, chart related analysis for day trading.

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