Asian markets are in another frenzy

Photo by Syamsul Bahri Muhammad/Getty Images

Asian markets — particularly stocks — are in the midst of yet another stimulus-anticipation frenzy on Tuesday, continuing the bullish price action seen on Monday.

Everywhere you look risk assets are flying.

All major stock indices across the region are firmly in the black, led yet again by Japanese markets.

The Nikkei 225 currently sits at 16,124.36, up 2.65% for the session. It has now rallied 6.7% now in just two days. Anticipation of sacks of cash from the Bank of Japan and Japanese prime minister Haruhiko Kuroda are clearly driving sentiment.

All too QQ-easy.

Those gains are being replicated across the region, albeit on a smaller scale.

Like stocks, higher-yielding currencies are all up for the session, mirroring similar moves in commodity markets.

Government bonds yields, despite still remaining near all-time record lows, are also modestly higher.

The world is suddenly good again, just two week’s after looking like it was all going to come to an end.

The only question now is what will happen when the expected stimulus splurge arrives, presuming that it will. A lot is being priced in, suggesting that there’s scope for disappointment.

Anyway, that’s for another day.

Here’s the Asian market scoreboard, as at 12.35pm AEST.

Stocks

  • ASX 200 5385.40 , 48.30 , 0.90%
  • Nikkei 225 16124.36 , 415.54 , 2.65%
  • Shanghai Composite 3010.55 , 15.63 , 0.52%
  • Hang Seng 21025.34 , 144.84 , 0.69%
  • KOSPI 1988.86 , 0.32 , 0.02%
  • Straits Times 2890.66 , 14.52 , 0.50%
  • S&P 500 Futures 2131.50 , 1.25 , 0.06%

Forex

  • USD/JPY 102.98 , 0.19 , 0.18%
  • USD/CNY 6.6997 , -0.0053 , -0.08%
  • AUD/USD 0.7590 , 0.0061 , 0.81%
  • NZD/USD 0.7266 , 0.0048 , 0.67%
  • AUD/JPY 78.16 , 0.77 , 0.99%
  • EUR/USD 1.1086 , 0.0030 , 0.27%
  • GBP/USD 1.3085 , 0.0092 , 0.71%
  • USD INDEX 96.336 , -0.2350 , -0.24%

Commodities

  • Gold $1,355.20 , $0.35 , 0.03%
  • Silver $20.38 , $0.12 , 0.57%
  • WTI Futures $44.97 , $0.21 , 0.47%
  • Copper Futures ¥37,080 , ¥260 0.71%
  • Iron Ore Futures ¥443.50 , ¥16.00 , 3.74%

10-Year Bond Yields

  • Australia 1.958%
  • New Zealand 2.320%
  • Japan -0.260%
  • Germany -0.159%
  • UK 0.761%
  • US 1.437%

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