Epic Research Update : Asian Markets

Asian markets enjoyed a higher open on Wednesday, with Tokyo shares at a fresh eight-year high, following a positive lead from Wall Street overnight.



However, trading volumes will likely be light ahead of the Lunar New Year holiday, with markets in China, Taiwan,South Korea and Vietnam shuttered. Singapore and Malaysia will be open for a half day.



Japan’s Nikkei 225 index hit a fresh 8-year high in a broad-based rally, supported by the yen weakening to 119.1 against the dollar, compared with Tuesday’s close of 118.4. Japanese shares had tapped an eight-year high of 18,004.77 – its highest since July 2007 – on Monday, but drifted lower in Tuesday’s session due to a stronger currency.



Singapore’s key Straits Times index gained 0.5 percent. In focus are shares of commodity trader Noble Group, which gained nearly 1 percent, recouping some losses after decelerating more than 10 percent for the past two days following a critical report by Iceberg Research.



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Posted in: Indian Market Tips