Asian bourses are trading slightly higher following Wall St’s move higher on the back of better than expected US housing data. In Sydney the ASX200 is up 0.7% with coal stocks the standouts with Gloucester coal up 25% on a takeover bid by MacArthur Coal. In Korea, technology stocks are higher on earning hopes. The Kospi is up 0.2%. China fell down thru the important 3080 level yesterday, and today is trading just below that level at 3068, up 0.7%.