Japan Shares Break 18 Year High

Japan’s Nikkei index closed at its highest level for more than 18 years on Wednesday, as investor confidence rose further on hopes that Greece will avoid defaulting on its loans.

The benchmark Nikkei index closed up 0.28% at 20,868.03, marking its highest close since late 1996.
Eurozone leaders have broadly welcomed new proposals for Greek reforms.

Greek Prime Minister Alexis Tsipras is to hold fresh talks with his country’s creditors later.
Eurozone finance ministers are due to meet on Wednesday evening.

Mainland Chinese stocks rose as investors took advantage of cheaper shares after the benchmark Shanghai index fell by more than 13% last week.

Analysts also said investors who had been highly leveraged were probably now out of the market.
The Shanghai Composite Index ended up 2.5% at 4,690.15.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza