Tokyo’s main index closes higher as Asian stocks stay buoyed
The buoyant mood owes much to gains from Wall Street overnight as markets continue to wait on further developments in trade talks between US and China. As mentioned several times in the past two days, we’re going to have to wait until after the Lunar New Year break before we’re likely to see anything of note come about from this; with Mnuchin and Lighthizer set to head to Beijing.
For now, markets will still be calm and reeling in some positive tones but they’re not likely to lead to anything substantial. If you want a gauge as to the meaning of the recent upbeat tone in stocks, look towards USD/JPY.