Most Asia stocks went up
On Wednesday most stocks in Asia got positive returns, leading to a positive result against a brutal October for Asian stocks. China markets, which have been hard hit, marked earnings by the morning. The Shanghai Composite climbed to about 1.12% and the Shenzhen composite improved about by 1.20 %. Hong Kong’s Hang Seng index also grew by 0.6%. Sony stock went up about 4.0% after the popular company raised its yearly earnings forecast by 30% after a solid second-quarter. Topix gained 1.63% while Japan’s Nikkei 225 climbed 1.66% in the afternoon. South Korea’s Kospi was mostly in range, with shares of the Giant Samsung Electronics falling 1.18 %. The stock’s movement happened notwithstanding the release of a record quarterly profit.
BOJ kept monetary policy steady
On Wednesday the JPY went lower versus the greenback following the Bank of Japan’s signal that they are not near to exit crisis-era stimulus yet, while the USD climbed to more than a year high versus its fundamental competitors on continued strength in the U.S. economy.
The Bank of Japan held its monetary policy even on Wednesday and decreased its price projections, strengthening market expectations that subdued inflation will force it to keep its huge incentive plan for the time being.
In a generally anticipated move, the BOJ kept its short-term interest rate mark at minus 0.1% and a promise to lead 10-year government bond yields around 0%.
Iran sanctions will be the key driver for oil this week
Oil gained a small positive momentum after the peak of the hour while WTI speeds up to break away from the $66.49 level and to increase to a high of $66.85 on the day. There isn’t any significant news to justify the fact but the technical analysis states that the price may do just that.
Notwithstanding a build, in private inventory, the focus in oil markets now is on Iran sanctions and that probably will be the key driver this week and next week while traders continue to examine over the implications of Iran’s sanctions and how it affects the global oil market.
Dow gathers more than 400 points
On Tuesday U.S. stocks closed higher while markets decreased some of the October’s harsh damages before the end of the month.
The Nasdaq Composite climbed about 1.5% and closed at about 7,161.64. That index rose because of a 5.0% increase in the popular company Intel, Amazon dropped 0.5% through the session.
The S&P 500 recovered more than 1.5% to close at 2,682.60 while energy, communications, and materials stocks led the index out of the correction area. Stocks of Charter Communications, DISH Network, and Twitter all grew more than 4% each.
The Dow Jones Industrial Average rose by 431.70 points to close at about 24,874.60.