Swissquote Bank Research Team
Swissquote Bank Ltd
Asian markets were heading higher on Friday, led by South Korean Kospi, surging at 2’451 (+1.54%), followed by Hong Kong Hang Seng valued at 31’290 (+1.05%) and Japanese Topix increasing at 1’760 (+0.82%) while Nikkei 225 closed the day at 21’893 (+0.72%), supported by Energy (+2.98%), Real Estate (+1.84%), Materials (+1.50%) and Utilities (+1.35%) due to higher oil-related stocks performance after oil price overnight gains (JXTG Holding +3.64%, Showa Shell Sekiyu +2.88% and Inpex +2.39%).
On economic data side Japan’s January Core Consumer Price Index Y/Y rose by 0.90% (consensus: 0.80% - M/M basis: 0.10%), in line with previous month and confirming the view of a rather slow headline inflation rate.
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US treasury yields decrease, as the 10-year and 2-year are given at 2.9080 (-1.55%) and 2.2420 (-1.07%), despite Fed’s minute on Wednesday that maintained the stance of improving economic conditions and confirming more rate hikes for the coming year. US Equities remained stable on Thursday: Dow Jones Industrial Average, S&P500 and Nasdaq were closing at 24’962 (+0.66%), 2’704 (+0.1) and 7’210 (-0.11%).
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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