We are seeing some solid gains today throughout Asian Stockmarkets. The Nikkei currently up 2.2%, ASX200 +2.6%, HK +2% and Kospi +0.6%.
Sentiment in Asia was helped by an upbeat reading in Singapore’s Q2 GDP, which rose 20.4% on the quarter. Auto makers in Tokyo were higher after reports they were stepping up production in China. Nissan up 6%, Honda up 2.4% and Toyota up 2.7%.
In Australia, resource stocks were on a run, with RIO up 3.1% and BHP up 3.7%. The banks were also higher, CBA the best of the bunch up 3.2%, as traders ready themselves for the Goldman Sachs Earnings.
Technology and Financials also gained in South Korea, Samsung up 1.3%.
However Yen crosses are lagging on a day that traders had hoped Yen crosses would trade higher in tandem with stocks.
