Stocks are soaring in Asia, following offshore leads

Photo by Win McNamee/Getty Images

Like European and US markets before them, the prospect of additional cheap euros flooding the financial markets has seen Asian stocks leap higher in early trade on Friday.

Of those markets currently open only the KOSPI in South Korea, up 0.82% following a stronger-than-expected advanced Q3 GDP report, has failed to log a multi-percentage gain so far in morning trade. The Nikkei in Japan, inspired by strong gains in stocks overnight and renewed yen weakness, is up by over 2%, while the ASX 200 in Australia has added a net 1.63%.

In currencies, the euro has continued to weaken following a 2% plunge overnight, currently trading at 1.1088 against the US dollar, a decline of 0.16%. The weakness in the euro is leading the US dollar index higher, contributing to USD/JPY rallying by a further 0.18% to 120.88.

Here’s the scoreboard.

Stocks

  • ASX 200 5349.50 , 85.66 , 1.63%
  • Nikkei 225 18817.68 , 381.81 , 2.07%
  • KOSPI 2039.55 , 16.55 , 0.82%
  • S&P 500 Futures 2057.75 , 4.75 , 0.23%

Forex

  • USD/JPY 120.88 , 0.22 , 0.18%
  • USD/CNY 6.3577 , 0.0090 , 0.14%
  • AUD/USD 0.7213 , 0.0009 , 0.12%
  • NZD/USD 0.6792 , 0.0005 , 0.07%
  • AUD/JPY 87.19 , 0.27 , 0.31%
  • EUR/USD 1.1088 , -0.0018 , -0.16%
  • GBP/USD 1.5390 , -0.0002 , -0.01%
  • USD INDEX 96.532 , 0.1540 , 0.16%

Commodities

  • Gold $1,165.10 , -$0.55 , -0.05%
  • Silver $15.85 , $0.04 , 0.25%
  • WTI Futures $45.46 , $0.08 , 0.18%
  • Copper Futures ¥39,470 , ¥300 0.77%
  • Iron Ore Futures ¥358.50 , ¥0.00 , 0.00%

10-Year Bond Yields

  • Australia 2.618%
  • New Zealand 3.335%
  • Japan 0.304%
  • Germany 0.508%
  • UK 1.797%
  • US 2.037%

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