Asian Equities Slightly Higher after Japan CPI Data

Asian stocks eked out slim gains on the final trading day of the month following the previous day’s selloff thanks to a rally on Wall Street overnight and upbeat economic data from Japan.

Trading volumes were thin due to the Chinese New Year holidays. Shanghai, Hong Kong and South Korean markets were closed and will resume trade next week.

A rally on Wall Street overnight helped lift sentiment in Asia. The S&P 500 closed 1 percent higher, while the Nasdaq shot up nearly 2 percent after data showed the economy expanded an annual 3.2 percent in the fourth quarter, with consumer spending rising 3.3 percent.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.