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8 Oct 2020

Asian Stock Market: Nikkei 225 probes pre-coronavirus high, ASX 200 gains 1.0%

  • Shares in Asia-Pacific markets cheer hopes of further stimulus.
  • Comments from RBNZ, BOJ joined US VP Debate and Trump’s tweets to keep risks positive.
  • Data from Japan, Indonesia manage to back the trading optimism.

Asian equities remain bid on Thursday as odds favoring further stimulus from global policymakers increase after the US Vice Presidential (VP) Debate. Although Mike Pence and Kamla Harris both showed readiness to pump the markets, US President Donald Trump’s readiness to consider a Democratic counteroffer, if matching the Republican stand, assured more money. Further to boost the market optimism, Trump rekindled his health recovery and signaled the coronavirus (COVID-19) vaccine’s arrival just after the election.

At the regional level, RBNZ offered clues for negative interest rates and easy money policies whereas BOJ Governor Kuroda also pitched for monetary stimulus while seeing a recovery in Asian markets.

Against this backdrop, the MSCI index for Asia-Pacific shares outside Japan prints 0.20% gains, up for the fourth day to probe the monthly top, whereas Japan’s Nikkei 225 adds 1.0% to challenge the mid-February highs. Further, Australia’s ASX 200 follows the market mood to mark 1.0% run-up while New Zealand’s NZX 50 adds 2.5% to its daily rise.

Elsewhere, Indonesia’s IDX Composite cheers the recovery in Retail Sales while rising 0.60%. Moving on, South Korea’s KOSPI and India’s BSE Sensex were additional gainers. Though, Hong Kong’s Hang Seng bucked the trend amid growing anti-China mood among global policymakers.

Other than the Asia-Pacific risk signals, S&P 500 Futures and the US 10-year Treasury yields were also speaking for the globally positive environment even if the COVID-19 woes are forcing more stringent local lockdowns in the UK and Europe.

With the absence of Chinese players, Asian markets may keep the latest positive mood ahead of Friday’s China Caixin Services PMI.

Oct 8, 2020

BOJ raises economic assessment for eight of Japan's nine regions

In its latest quarterly report released on Thursday, the Bank of Japan (BOJ) upped the economic assessment for eight out of Japan’s nine regions. The
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Oct 8, 2020

FX option expiries for Oct 8 NY cut

FX option expiries for Oct 8 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.1745 650m 1.1800 650m - GBP/USD: GBP
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