The bears put together a little win streak last week, but it looks set to come crashing down, as they obviously failed to deliver any kind of real blow.
Asia had a big night:
WSJ: Chinese banks in Hong Kong jumped after a researcher under China's State Council reportedly said the Chinese economy was likely to expand more than 10% in the fourth quarter. Gains in Reliance Industries boosted Indian shares after the market heavyweight announced a bid for Dutch firm LyondellBasell Industries.
Hong Kong's Hang Seng Index rose 1.4% to 22771.39 for its first advance in five sessions, while China's Shanghai Composite rose 0.9% to 3338.66. Japanese markets were closed for a holiday.
Australia's S&P/ASX 200 rose 0.7%, Taiwan's Taiex climbed 0.1%, South Korea's Kospi slipped 0.1%, New Zealand's NZX 50 ended flat and the Philippines' main index fell 0.7%. Singapore's Straits Times Index ended up 1.3% and in afternoon trading, India's Sensex rose 0.8%.
Europe was up too, and US futures are pointing solidly higher.
Gold, meanwhile, is above $1165, a brand-new record.
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See Also:
- Gold Starts The Week With An Instant Blast Higher (GLD)
- Goldman Super Bullish On China
- Saturday Night Live Rips Obama Over China Trip, Spending, And The Deficit
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