Risk appetite has been observed across the Asian equity markets, taking cues from the US and Europe on the back of positive data on both sides of the Atlantic. The Nikkei 225 has staged another rally with the index hitting a fresh 2013 high as the two-day Bank of Japan meeting kicked off today. This meeting will be the last for governor Shirakawa, given his departure on March 19. In terms of notable equity news, Sharp has been the top gainer as it was reported that Co. is in talks to secure an investment of about JPY 10bln from Samsung Electronic.
Over in Australia, following the RBA leaving interest rates on hold at 3.0% and maintaining a dovish bias yesterday, the ASX 200 has had another impressive morning after the Australian GDP (Q4) Y/Y beat expectations, coming in at 3.1% vs. Exp. 3.0% (Prev. 3.1%). The data also supported the local currency with AUD/USD having picked up some momentum to the upside to test the 1.0300 level. Meanwhile, price actions in Chinese markets have been relatively quiet as there has been limited market moving news flows and no tier-1 data releases during the session.
Looking ahead, the calendar for the rest of the day remains on the light-side with no data scheduled to be released.
As of 0205GMT:
ASX200 (+0.97%), Nikkei 225 (+1.27%), Shanghai Comp. (+0.02%), Hang Seng (+0.64%), KOSPI (+0.27%)
05 Mar 2013 - 20:05 - - Source: RANsquawk
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