Asian Markets Gain After 3 Days Of Losses On Good News From Greece, Yen Falls To Over 81, Oil and Copper Rise

By Staff,

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After three days of falling, Asia markets have risen today, largely on positive developments in Greece and the United States, but also helped by a weaker yen, which can help exporters make more profits by selling cheaper and more products to overseas consumers.

Asian markets are led by the Nikkei 225 Index gaining 2.25% to close the regular session at 9,768.96. The Hang Seng Index finished higher by 1.32% at 20,900. The Shanghai Index closed at 2,419.94, up 1.05%. The Standard & Poor's ASX 200 Index answered the closing bell at 4,171.04, stronger by 27.38 and 0.66%.

The bulls are continuing to stampede in futures trading, too, as the initial stages of the Greek debt swap are proceeding without incident. In addition, the Wall Street Journal detailed a new Federal Reserve program in the United States to suppress inflation. As a result, the Nikkei 225 Index is at 9,780.00, up 90.00 in trading in the futures market. The Hang Seng Index has gained 268.00 to 20,837.00. At 4,194.00, the Standard & Poor's Index 200 is higher by 29.00 in futures action.

Leading the charge was the financial sector and commodities. On the Nikkei 225 Index, the financial sector was strong with Nomura Holdings up 4.7%; and Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group all rising more than 2.3%. Trading volume was off slighlty on the Nikkei 225 Index at 2.11 billion shares, down from 2.25 billion shares on


Bullish sentiment abounds despite the three days of losses for Asian stock markets after a robust February. "I do not feel that we've had our last buying opportunity or March. A lot of domestic investors failed to buy at all in February, so they're picking up now, but I do think there will be at least one more correction in March. What we see gaining today -- insurance, real estate and brokers -- these so-called "bubble" stocks are supported by excess market liquidity. These have become the core stocks that are driving the market," said Kenichi Hirano, operating officer at Tachibana Securities.


*Nikkei 225 Index closed at 9,768.96 192.90 2.01% 01:28

*Hang Seng Index closed at 20,900.70 272.95 1.32% 03:01

*Standard & Poor's ASX 200 INdex 4,171.04 27.38 0.66%

*Shanghai Index closed at 2,419.94, up 25.14 and 1.05%.


* Nikkei 225 Index is at 9,780.00, up 90.00.

*Hang Seng Index is at 20,837.00, up 268.00.

*Standard & Poor's Index 200 is at 4,194.00, up 29.00.


*UBS Bloomberg CMCI is at 1,621.81, up 8.62.

*Standard & Poor's GSCI is at 697.62, up 5.01.

*RJ/CRB Commodity Index is at 315.48, up 1.24.

*Rogers International Index is at 3,870.16, up 26.04.


*Copper ( JJC ) is at $379.750, up $3.050 and 0.81%.

*Gold ( GLD ) is at $1,696.80, up $12.90 and 0.76%.

*Oil ( USO ) is at $106.42, up $0.26 and 0.24%.

*Corn ( CORN ) is at $638.75, down $15.25 and 2.39%.


*USD/JPY ( YCL ) is at 81.5, up 0.52%.

*EUR/USD (FXE) is at $1.3240, up 0.70%.

*GBP/USD (FXB) is at $1.5792, up 0.33%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CORN , GLD , JJC , USO , YCL

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