Asian Markets Rally In Early Trade, Nikkei Up 0.5%

Japan Nikkei Markets Trading Man Equity Exchange

Photo: Kiyoshi Ota/Getty Images

Asian markets have opened largely in positive territory, led by Japan’s Nikkei which is up roughly 0.5 per cent, or 42 points.The Australian S&P/ASX is also higher after the first few hours of trade, advancing some 0.4 per cent.

Markets have already digested early data points out of Great Britain. The British Retail Consortium reported sales in June improved 1.4 per cent from the year ago period, pointing to modestly better spending habits.

Most of that was chalked up to the Queen’s Jubilee, and sales over the month were 60 basis points below Wall Street consensus. 

Still to come in half an hour: China’s trade balance. Economists polled by Bloomberg forecast the country’s surplus expanded to $24 billion in June.

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