Asian Stock markets opened higher today. NIKKEI started the day at 10,096.89, previous close was 10,010.39. HANG SENG opened at 22,251.02, previous close was 21,987.29.
The markets have reacted positively after European Union leaders reached a new deal for Greece and other debt plagued eurozone countries. Another factor supporting the stock markets is strong Morgan Stanley results. As fear of contagion from Greece will engulf Spain and Italy fades away, investors are still cautious. Yesterday, S&P rating services reminded that the United States may lose its AAA credit rating if the U.S. lawmakers fail to raise the country’s debt limit before the deadline. Even though investors bet the U.S. will maintain its debt payments and keep its credit rating, the Japanese yen’s strength against the dollar is something that they can not ignore.
Asian session is going flat and calm today. EUR rallied to a two week high against USD yesterday after EU leaders agreed on Read more »