It’s been a relatively positive start to the month for Asian equity markets with traders clearly undeterred by that reported slowdown in Chinese manufacturing, although as always this remains something of a win-win situation with the prospect of Beijing offering further stimulus measures clearly helping. Markets were also teed up by that strong finish on Wall Street going into the long weekend, although it’s perhaps worth noting that there’s no real signs of concern emerging over what appears to be a deteriorating situation in Eastern Ukraine. The Yen remains weak with USD/JPY sitting comfortably above 104 and this in turn is helping lend support to the Nikkei.
With US markets closed today there’s no economic data to consider and futures markets are looking relatively unmoved by that positive start to the week across Asia. Right now we’re seeing the DOW up 3 at 17101 and the S&P down 1 at 2002.