www.TheLFB-Forex.com The Forex Trader Portal
Current Futures: Dow +9.00, S&P +0.70, NASDAQ +1.50
Asian markets are advancing at a relatively strong pace, helped by the positive close on Wall Street, earlier in the day.
The Japanese cash market was pulled higher primarily by the weaker yen, which helps the regional companies that have strong exposure to the foreign consumer markets, and by the gains seen in the commodity market, which aided the heavy-weighted raw material companies. In the Nikkei 225, only 15 companies declined on Tuesday, from which the worst performer was Daiwa Securities, as seen on Sunday. The financial company dropped 3.5% tonight, as it plans to raise as much as $2.5 billion by issuing new shares, something that would dilute the stake of current shareholders.
The top three performers in the Nikkei index were Fujifilm, Nikon and Toppan Printing. The three companies surged after Mizuho lifted their rating to “buy.” Moreover, Toppan Printing surged 8.80% today, after a similar performance on Monday.
Most companies advanced today in the Asian session, extending the rally started in March. Over the last three months of trading, the best performing stock in the Asian market was Farglory Land Development, a real estate company from Taiwanm, which surged 210% as investors speculated that the company is likely to be bought by a Chinese company.
Overnight, the Japanese Nikkei gained 184.57 points (1.89%) to 9,968.04. The Australian S&P/Asx advanced 58.40 points (1.50%) to 3,945.30
Crude oil for July delivery was recently trading at $72.90 per barrel, higher by $1.40.
Gold for July delivery was recently trading up by $1.30 to $942.00.
TeamLFB provides forex related market analysis and trade signals