The Nikkei has hit fresh 10 month highs today, with investor confidence reinforced after the European GDP data last night. In contrast the Shanghai composite is down 0.9%.
With no new economic news, the Nikkei today has been dominated by ratings changes by Brokerage firms. Trend Micro jumped 4% after Nomura Securities put a “buy” on it, while Hitachi Construction surged 10% after Mitubishi UFJ Securities raised its rating.
The selling continues on the Shanghai Composite, which has taken the shine off risk trades, with traders selling down Yen crosses.