Asian bourses are higher today, following the run on Wall St overnight. Financial stocks across the region are doing well after their US counterparts helped pace the overnight rise. In Sydney, NAB is up 1.3%, CBA up 0.5%, while in Seoul, Shinhan Financial was up 2.4%. In Tokyo, Sumitomo Mitsui is up 1.3% and Mizuho Finance up 0.5%.
Traders in Tokyo however, are cautious that profit taking could emerge as the 10,000 level approaches. With others saying that foregners are not keen to buy Japanese stocks at the moments because the Japanese government has yet to provide a sustainable economic growth stategy.
Energy stocks also bounced after crude oil futures rebounded on the back of the tropical storm Ida disrupting production in the Gulf of Mexico.
The ASX200 is currently up 1.1%, Nikkei up 1.5% and the Kospi up 0.7%. Shanghai as also showing a small gain of 0.3%.