Japanese equities continue their expansion on Monday. The TOPIX ended the day at 1775 (+2.17%) following strong decrease of -7.09% two weeks ago, supported by Real Estate (+2.79%), Utilities (+2.44%), Industrials (+2.34%) and Materials (+2.04%). The technical structure of the index suggests further short-term rise toward hourly resistance at 1803 (07/02/2018 high). The Nikkei 225 also closed higher, heading above 22K at 22149 (+1.97%) and heading toward hourly resistance at 22354 (07/02/2018 high).
Stocks in Sydney and South Korea ended the day in positive territory, with the S&P/ASX 200 at 5942 (+0.64%) and the Kospi increasing up 0.87% at 2443, while Hong Kong and China remain closed for holiday.
This week we will be looking at Australia Reserve Bank Meeting Minutes (Tuesday) and US FOMC Meeting Minutes (Wednesday), both giving the tone on markets for the coming days.
By Vincent Mivelaz