Asian stock indexes traded mostly in green territory following solid gains on Wall Street in the prior session, but many markets remained close in observance of the Lunar New Year holiday.
The most significant event of the current week at the time of Thursday Wall-Street start is, in our opinion, the recovery of equity markets after last week sell-off.
Yesterday, Europe made another attempt to return to the recovery phase and this time it was a successful one (DAX: + 1.2%, CAC40: + 1.1%).
Asian equity markets were mostly higher on Thursday, following a strong close in Wall Street as key economic reports came in better than expected in the previous session.
Futures for US indices fell sharply, anticipating a negative Wall-Street start after the expected statistics showed that consumer prices in January in the US rose more than expected in the consensus forecast.
On Tuesday, European equity markets attempted to recover some ground with technical rebound on background of oversold indices.
Asian equity markets were mixed on Wednesday, with the dollar falling to multi-months lows against the yen and as traders awaited high-impact economic reports later in the day.