Asian Markets Rally on the Back of Positive Global Sentiments, Gold Around $1250 and Silver Rises Nearly 3 Pct
All the Asian markets are trading on a higher note on Thursday.
Japanese markets continue to trade higher while China’s stock market opened mix and there after turns positive. On the other side, Japanese Yen gains in early Asian hours and remains supported below 110.00 marks. In addition, Gold recovers from previous losses and trading around $1250 marks.
Today Silver rises nearly 3 pct to $17.37, highest since May 2015. Japan's Nikkei 225 index rallied 2.63% to 17,350.86 points on Thursday morning in Tokyo, while the broader Topix index surged 1.39% to 1,384.78 points.
Chinese markets opened on a mixed note and then turn positive, with Hong Kong's Hang Seng index climbing 1.86% to 21,631.68 points, while the Shanghai Composite fell 0.73% to 2,950.83 points, adding to Wednesday's heavy losses. The People's Bank of China devalued the Yuan by 0.3% against the US dollar on Thursday, setting the reference rate at 6.4803.
Korea's Kospi index gained 0.72% to trade at 2,020.51 points on Thursday morning in Seoul.
Australia's benchmark S&P/ASX 200 index rallied 1.16% to 5,276.90 points on Thursday morning in Sydney.
New Zealand's S&P/NZX 50 index traded little down at 6,898.82 points on Thursday afternoon in Wellington.