Asian markets including the Nikkei stock market were up today (December 18th) halfway through the week.
The Nikkei has spent the last two days recovering from the 1.6 per cent drop in its value on Monday, rising by 0.8 per cent yesterday and a further 1.3 per cent today.
Japanese stocks were boosted by the news that the country's exports were 18.4 per cent up in November, which was ahead of the 17.9 per cent that had been predicted by analysts.
A weaker yen provided more support for the Nikkei during today's trading, with the stock market's major exporters performing well due to the weakness of the currency compared to the dollar.
According to a report by Investing.com, Asian stock markets were up almost across the board during trading today, with only the Shanghai Composite and Australia's S&P/ASX 200 falling, with the indexes both down less than 0.1 per cent on the start of the day.
There were good gains for the Hang Seng Index, which was up by 0.6 per cent, while South Korea's Kospi was also up by 0.3 per cent for the day.
Investors had been cautious earlier in the week ahead of the next meeting of the Federal Reserve in the US, with speculation rising that it could start to taper its quantitative easing programme in the coming months.
Overnight in the US, stock markets slipped slightly lower in after-hours trading with investors awaiting the outcome of the Fed's latest meeting. All of the three major indexes in the US were down, with the Dow Jones Industrial Average falling by the smallest amount – a drop of just 0.06 per cent. Elsewhere, the S&P 500 index was down by 0.31 per cent, while there was a 0.14 per cent dip for the Nasdaq Composite index.
Opinions are split down the middle regarding whether or not the Fed will amend its monetary policy this month, although the expectation is that a change will be announced soon. The Fed's actions are likely to have an impact on markets around the world.
Learn about the Asian markets and CFD trading at City Index
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.