Asian equities in a more cheery mood today
The surge in Wall Street overnight is helping to breathe some confidence across Asian stocks but also as Chinese equities rising further on the back of more policy and stimulus hopes by the PBOC and the government.
The Hang Seng is up by 2.0% on the day with the Shanghai Composite up by 1.8% currently. More notably, the CSI 300 index is up by 2.0% on the day and is just a light push away from posting its highest levels for the year. Yup, what virus again?
Anyway, as we look towards European trading, the risk mood is not as optimistic with US futures down by 0.4% while Treasury yields are also resting lower on the day for now.
That is keeping USD/JPY a little lower at 107.38 to start the session, with other major currencies enjoying a bit of a breather for now as traders digest the happenings in the market over the past two weeks and how things may play out moving forward.
