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Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, +0.14% ) up 0.1%
Hong Kong (Hang Seng Index HSI, +0.43% ) up 0.4%
Shanghai (Shanghai Composite Index SHCOMP, +0.00% ) flat (at break)
Sydney (S&P/ASX 200 XJO, +0.36% ) up 0.5%
Seoul (Kospi SEU, +0.72% ) up 0.7%
Mumbai (Sensex 1, +0.79% ) up 0.6%
Taipei (Taiex Y9999, +0.57% ) up 0.5%
Asian stocks broadly rose Wednesday after US Federal Reserve chief Janet Yellen damped speculation of a rate hike before summer, and as eurozone finance ministers backed Greek reforms critical to avoiding a disastrous default.
The regional uptrend tracked fresh record highs on Wall Street and in Europe as investors breathed a cautious sigh of relief over the Greek package, which gives Athens a lifeline to pay its bills - for now - and sidestep an almost certain exit from the eurozone.
"The two potential international risk events for markets had positive outcomes," said Ric Spooner, chief market analyst at CMC Markets in Sydney.
"Janet Yellen's testimony moved expectations for a rate hike out in time while the boxes were ticked to cement a four-month funding programme for Greece." Tokyo edged up 0.14 per cent at the open, Sydney rose 0.28 per cent, Seoul jumped 0.74 per cent, while Wellington rallied 1.46 per cent.
MALAYSIA share prices opened lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.62 points to 1818.22.
Volume was 71.8 million lots worth RM21.3 million.
Gainers outnumbered losers 125 to 71.
MALAYSIA share prices closed higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 9.29 points to 1,818.68.
Volume was 2.18 billion lots worth RM2.12 billion.
Gainers outnumbered losers 432 to 409.
TRADING TIPS :
USD/JPYtraded at 119.06, up 0.03% against the dollar.The Bank of Japan is to publish the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted at 94.40.Last week, the euro pushed higher against the dollar and the yen on Friday after euro zone finance ministers agreed on a deal to extend Greece’s bailout by four months. The euro zone approved the extension of Greece’s €240 billion bailout, removing concerns that the country would face a liquidity crunch when its current bailout agreement expired at the end of the month.
INTRADAY OUTLOOK
Support: 118.77
Resistance: 119.41
RECOMMENDATION:
1. Buy USD/JPY Above 119.43-TG: 119.63/119.93 SL 119.13
2. Sell USD/JPY Below 118.75-TG: 118.55/118.25 SL 119.05
INTRADAY OUTLOOK
Immediate Support: 1.1292
Immediate Resistance: 1.1372
RECOMMENDATION:
1. Buy EUR/USD Above -1.1374 TG: 1.1394/1.1424 SL 1.1344
2. Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320
