Stocks in Asia were seen opening with solid gains on Wednesday following the US steepest rally this year amid speculation Europe’s central bank would stimulus to boost growth in the euro block.
The Japanese Nikkei 225 index rallied 2.39% to trade at 15,257.22 points, while Tokyo’s Topix index gained 2.09% to 1,230.53 points. The Japanese yen remained unchanged from yesterday, trading around 106.89 against the greenback on Wednesday.
The Tokyo-based electronic equipment maker Fujikura saw the most gains on the Nikkei, surging almost 6% on Wednesday, while Sumitomo chemical gained 3.5% after reporting a 77% rise in half-annual earnings.
Property developers also saw gains during the session, with Heiwa Real Estate surging by more than 3%, Mitsubishi Estate went up 1.96% and Sumitomo Realty & Development added 2.79%.
The merchandise trade deficit for Japan widened to a seasonally-adjusted 1.07 trillion yen in September, compared to 924.2 billion yen seen in the previous month, a report from Japan’s Ministry of finance showed. Analyst had expected a trade deficit of 918.5 billion yen. Exports climbed 6.9% in September on an annual basis, while imports rose 6.2% on a yearly basis.
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Hong Kong’s Hang Seng index jumped 1.60% to 23,459.35 points, while the Chinese mainland Shanghai Composite added 0.44% to 2,349.89 points.
China’s gross domestic product (GDP) for the third quarter rose 7.35 year-on-year in the July-September period, the slowest pace since the first quarter of 2009, according to the statistics bureau in Beijing.
The South Korean Kospi index edged 1.055% higher to trade at 1,935.32 at the time of writing, while the Australian benchmark S&P/ASX 200 gained 1.17% to trade at 5,387.30 points.
Mining stocks in Sydney saw gains, with mining giants BHP Billiton and Rio Tinto went up 2.15% and 1.73% respectively, while Fortescue Metals rose 3.38%.
A data from the Australian Bureau of Statistics showed that the country’s Consumer Price Index climbed 0.5% in the third quarter, slowing the inflation annual rate of 2.3% from the previous figure of 3.0%.
Stocks in Europe opened with gains on Wednesday amid speculations that the European Central Bank (ECB) will add more stimulus measures to boost economic growth in the region.
The European Euro Stoxx 50 rose 0.01% higher to open at 2,992.47, while the French CAC 40 edged 0.06% to 4,083.72. The German DAX 30 gained 0.53% to 8,934.12. The European Central Bank (ECB) stimulus is in the spotlight after Reuters reported that ECB is considering purchasing corporate bonds on the secondary market and may finalize a decision as soon as December.
However, a separate news report from the Financial Times said that the corporate bond purchases are only options that have been discussed amongst policymakers.
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