FXstreet.com (Barcelona) - Asian stock markets have risen on Thursday in a session dominated by caution as Morgan Stanley's quarterly losses reactivated fears about the banking sector. Euro and Pound have ticked up , Yen remains rangebound.

Japanese Nikkei Index edges up 0.4% after a negative opening, and Hong Kong's Hang Seng Index rose 0.9% while South Korean Kospi Index added 0.5%.

Yesterday, Wall street closed with losses after having been swinging from positive to negative levels. Dow Jones Industrial Index fell 1.0% weighed by Morgan Stanley's disappointing quarterly report and the U.S. Government's forthcoming stress test aimed to assess banks health

Euro and Pound tick higher

The Pound is soaring on late Asian session, after having remained consolidating between 1.4450 and 1.4515 for the whole Asian session, the Pound has broken higher to rally about 140 pips to levels right below 1.4600.

The Euro seems to be testing levels above 1.3020 resistance level after having remained sideways between 1.2985 and 1.3020.

USD/JPY has gone through a back and forth Asian session, it declined from about 98.20 to a session low at 97.65 to recover most of the losses on late Asian session to test levels above 98.00 at the time of writing.

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