Morning Briefing: Asian markets advance on Japan stimulus report, Europe weak

Morning Briefing: Asian markets advance on Japan stimulus report, Europe weak

Morning Briefing: Asian markets advance on Japan stimulus report, Europe weak Asian markets advance on Japan stimulus report, Europe weak
Reports that Japan could be about to launch a larger-than-expected stimulus plan has boosted Asian equities Thursday but it’s a different story in Europe.

Kyodo News says that there is a U$188 billion package of stimulus on the way for Japan, doubling the expectation. The Nikkei led the gains in the region but all the major markets except South Korea closed higher.

European indexes are subdued ahead of the latest interest rates decision by the ECB. The news will arrive around 7.45am ET with a hold-steady for the zero per cent rate most likely. ECB president Mario Draghi will speak at a press conference following the announcement. There is anticipation that he may announce further stimulus for the Eurozone in light of the Brexit impact.

Wall Street and Toronto are expected to open higher.
 
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North America (previous session)
US Dow Jones 18,595.03 (+0.19 per cent) +4.29 per cent +3.77 per cent
TSX Composite 14,533.57 (-0.06 per cent) +3.72 per cent -1.09 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,703.17 (-0.38 per cent) +7.65 per cent -0.97 per cent
German DAX 10,105.82 (-0.36 per cent) +0.90 per cent -12.92 per cent
 
Asia (at close)
China CSI 300 3,252.52 (+0.46 per cent) +4.71 per cent -21.93 per cent
Japan Nikkei 16,810.22 (+0.77 per cent) +3.97 per cent -19.34 per cent
 
Other Data (at 4.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
47.19
(+0.04 per cent)
45.81
(+0.13 per cent)
1320.90
(+0.21 per cent)
U$0.7662
 
Aus. Dollar
U$0.7500
 
Oil rebounds on stockpile data
A ninth consecutive rise in the US stockpile draw has led to rebounding oil prices Thursday. US crude is up slightly although gains are tempered by expectation of weaker demand for the growing global glut.

Other commodities are also gaining with gold and copper prices rising, although silver is lower this morning.