Friday, October 9, 2015

Asian stocks boosted by mixed Fed minutes, higher oil

FXStreet (Mumbai) - The Asian markets saw a positive start to the last trading day of the week, tracking solid gains from the Wall Street overnight. The stocks on the Asian bourses climbed further as markets absorb the latest FOMC minutes, which failed to provide any clarity on the timing of the rate-hike.

Stocks lifted on higher commodity prices

The Japanese stocks were among the best performers and clinched gains as the strong rebound in oil and metal prices boosted the emerging and mining stocks. While a weaker yen versus the US dollar also supports the export-oriented stocks. At the moment, USD/JPY trades modestly flat at 119.93 while the Nikkei advances 0.78% to 18,282.

The benchmark Australian S&P/ASX 200 extends its upbeat momentum into a fifth day today, mainly underpinned by the overnight rally oil and gold prices. The index jumps over 1% to 5,263 points.

The Chinese benchmark index, the Shanghai Composite also mirrors gains from its other Asian counterparts and trades 0.31% higher at 3,151. While Hong Kong’s Hang Seng rallies 1.57% to 22,712, reversing the previous drop.
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