Tokyo and Asia-Pacific Close Higher as Nikkei Surges, Gold Slumps and Oil Firms
Executive summary: Tokyo and broader Asia-Pacific trading ended with a clear risk-on split, Japanese and Korean equities rallied sharply while Hong Kong and Australian shares slipped. The Nikkei 225 jumped +2.7%, the Kospi rose +2.9%, and the Nikkei 225 ETF tracked the move higher. In commodities, gold and silver sold off hard, while WTI crude extended gains. FX moves were modest, with USD/JPY little changed and USD/CNY edging higher. [Continue Reading]
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Tokyo Opens Firm as Nikkei Surges, Kospi Jumps and Gold Slips in Asia-Pacific Risk Rotation
Executive summary: Tokyo and broader Asia-Pacific markets opened with a clear risk-on tone, led by a sharp rally in Japanese and South Korean equities. The Nikkei 225 rose 3.474% and the Kospi jumped 5.443%, while the ASX 200 and Hang Seng traded lower. Commodities were mixed, with natural gas surging and gold, silver, platinum and palladium all weaker. The yen and yuan were slightly softer against the dollar, reinforcing a backdrop of firmer equities and softer defensive assets. [Continue Reading]

