- Asian shares on the rise following a bumper Wall Street session.
- Japan’s Nikkei 225 hits a decades-old high from 1991, buoyed by a declining JPY.
Asian equities are broadly higher for Friday after the US stock indexes climbed following upbeat economic data for the US economy and a speech from the US Federal Reserve’s Jerome Powell who noted that the US economy is currently in a comfortable place, and the Fed should be on track to continue raising rates at a “moderate pace”.
Japan’s Nikkei 225 index has clipped into a new high at 24,286, the index’s highest valuation since November of 1991, and has streaked up 1.86% for Friday, with Tokyo’s Topix index up a comparable 1.50%.
Australia’s ASX 200 remains bullish, albeit at a more sedate pace, in the green by 0.45%, while China’s equities climb for a top-end Friday close, with Hong Kong’s Hang Seng index up 0.61% while Shanghai’s CSI 300 clips higher by 1.08%.
Emerging markets are on the weaker side for Friday as small-scale central banks grapple with rising Federal Reserve rates, and the MSCI broad Asia-Pacific index is in the red -0.56%.
Nikkei 225 levels to watch
The Nikkei index has streaked to a decades-long high, and is currently trading into 24,175 after peaking at 24,286, the index’s highest peak since November of 1991, and the Nikkei’s rapid rise from September’s bottom of 22,172. The nearest support level rests at the 23,000 which has kept the Nikkei under wraps for most of 2018, while the index is free to roam higher until bears regain control and begin forcing the Nikkei into a bearish correction.
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