Yen at 5-Year Low
Asian stocks soared as they marked the longest bullish streak in a 3-months period, where the Japanese stock market rallied as the investors are being extremely bearish on the yen that has dropped down to a 5-year low level. Japan’s Nikkei 225 managed to add around 0.7% value as it closed above the 16000 level yesterday, where more and more buying opportunity are there for the investors since the economy has managed to boost exports, add jobs, and diversify the businesses while keeping the value of Japanese yen in their favor.
China All the Way
The Chinese economy performed pretty well this year where the expectations are that the economy would grow by around 7.6% against the target level of 7.5% set by the government. The Shanghai Composite index was in the hands of bulls as the market rallied for 3 consecutive weeks, but currently it is taking some bearish correction as it plunged by 1.1%.
Kospi adds Slight Gain
South Korea’s Kospi index gained by nearly 0.2% after starting the session from holiday, where the country’s consumer confidence index stood still at a satisfactory level of 107 in December, which was the same in the previous month according to the central bank.
A good, notable gap is expected in the markets when they would open tomorrow after the holiday where JPY pairs would be the center of attention for the investors, while stock markets and the commodities including gold may also incur a slight gap in their prices. There would be a good opportunity for the investors to make money on the correction of those gaps, right away.
To contact the reporter of this story: Jonathan Millet at firstname.lastname@example.org