Monday saw Tokyo's Nikkei index shoot up by almost 6%! Banking and technology stocks were to be thanked for the increase, along with positive economic news from the US released on Friday last week. The prospects for imports sent markets in Seoul and Taipei higher. Hong Kong, Singapore and Australian markets also closed higher, with New Zealand appearing the only loser.
Tuesday's trading in Hong Kong could not match Monday and investors appeared cautious that the almost 6% rise was too much. The index closed down by almost 1% for the day. Not such bad news in Seoul, Taipei and Hong Kong, as markets once again pushed ahead. Markets in Australia and New Zealand closed higher for the day but in Singapore the Straits Times fell slightly.
Wednesday saw markets in Taiwan on a high, not seen for over a year. Mixed news for the Nikkei with pulls both up and down, leaving it to close up slightly for the day. Other markets in South Korea and Australia managed gains but Hong Kong, New Zealand and Singapore markets went south.
Thursday saw renewed investor confidence in Tokyo with the Nikkei closing up over 2.5% for the day, up more than 20% in a month. Analysts feel that investors confidence has come through a better economic outlook from the US, thereby increasing the market for imports from Japan and the Far East. Whilst Hong Kong, Australia and New Zealand markets were also up for the day, Seoul and Taiwan markets fell back.
Friday saw nothing stopping the Nikkei, again rising over 2%. Yet more confidence was gained from US unemployment figures, boosting export expectations. The Yen has grown by 4.5% against the Dollar this week and the Japanese Finance Minister expressed concerns over the rise being 'artificial'. An investigation has been started. Elsewhere, markets in Seoul fell whilst Taiwan was up again. As Australia headed south, New Zealand managed to stand steady.