FXstreet.com (Barcelona) - Asian stock markets have risen on Thursday with financial assets leading gains, after Geithner affirmed that none of the 19 banks examined under the stress test has shown solvency problems. Euro and Pound have remained moving in range.
Japanese Nikkei Index rose 4.0% on its first day of trading back from the golden week holiday , while Hong Kong's Hang Seng Index climbed 0.8% and South Korean Kospi Index rose 0.3%.
Investors have recovered confidence after Timothy Geithner, U.S. Treasury Secretary affirmed that U.S. Government's stress test has shown that banks' health is not as bad as expected. Financial shares have soared in Asia after Geithner's commentaries; Mizuho Financial Group surged 10% and Mitsubishi UFJ Financial group rose 12.0%.
Euro and Pound moving sideways
EUR/USD has been moving from a support level around 1.3280 to a resistance level at 1.3325 after having fallen from 1.3375 high yesterday.
GBP/USD has remained consolidating at levels above 1.5100 and below 1.5155 after having rallied yesterday from 1.5000 during U.S. session.
USD/JPY has been moving from 98.12 to 98.80 on its decline from 99.20 high on Wednesday.
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