Asian stocks edge higher in tandem with commodities

By FXStreet FXStreet (Mumbai) – Amid holiday-moods persisting in the markets, the Asian stocks are seen posting moderate gains, with the Chinese equities attempting minor-recovery after the previous sell-off.

S&P/ASX leads Asia higher

The Japanese stocks are trading marginally higher this session, mainly underpinned by the tepid-recovery seen in gold, copper and oil prices. However, the index struggles to extend higher, as a stronger yen and the negative lead from the Wall Street overnight continue to weigh on the investors’ minds. Meanwhile, USD/JPY trades -0.08% at 120.30 and the Nikkei gains 0.35% to 18,938.

Among other Asian indices, the Australian benchmark, S&P/ ASX index, re-opened after an extended Christmas break on a firmer note, with the energy and resource stocks boosted on the back of higher commodities’ prices. The Aussie index rises 0.83% to 5,252 so far. While the Chinese indices stage minor pullback after the sudden sell-off seen yesterday. The benchmark Shanghai Composite (SSEC) trades +0.18% around 3,540 and Hong Kong’s, the Hang Seng advances 0.32% to 21,989.
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Source:: FX Street