Greek euphoria spreads to Asian stocks

Laurence Griffiths/Getty Images

The Greek relief rally, having propelled stocks higher in Europe and the US, has moved on to Asia.

In early trade all of the major Asian markets are up by around 1%.

ASX 200 5 minute chart – June 23

In Australia the ASX 200 has put on 1%, taking its three-day rally to close to 4%, with all sectors trading higher for the session. Financials, healthcare and telecommunications are leading the way higher with gains in excess of 1.4%.

Elsewhere the Nikkei 225 in Tokyo is up by a similar amount, adding to yesterday’s 1%-plus rally, while the KOSPI in South Korea is higher by 1.1%.

Chinese stocks, having been thumped last week, are about to resume trade following a three-day weekend. All eyes will be on the market to see whether the steep slide seen on Friday will continue.

Aside from the Chinese market opening investors are also eyeing the the latest HSBC-Markit flash manufacturing PMI gauge for China released at 11.45am Sydney time.

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