Good stock gains are being seen across Asia this morning, following Wall Street’s lead. In Japan the better than expected machinery data coupled with the overnight bounce has seen the Nikkei trade higher by 1.3% at the moment.
Sony up 4.5% after a better than expected forecast, Hitachi +3.2% and Nikon +1.2%. Financials were also up, Sumitomo Mitsui +1.6% and Nomura Holdings +2.5%.
In Australia, invetsors scrambled to buy after yesterday’s heavy sell off. RIO regained some lost ground after it reaffirmed its commitment to the Chinalco deal, up 8%. Financial are only marginally higher as the market tries to determine if a base is in place or not. The ASX200 is up 1.7% at the moment.
