Asian stocks outside China extend bullish run

After a shaky start, the Asian equity markets regained footing and extend its advance for the fourth straight session this Thursday, in response to a rebound in oil prices and yen’s relative weakness.

Markets continue to favour risky assets as post-Brexit profit-taking rally extends as we progress towards the crucial BOE rate decision due later today. However, the upside remains capped as investors eagerly await any fresh update on the Japanese stimulus reports.

China stocks buck the trend

The Japanese benchmark index, the Nikkei 225 advances +0.76% to 16,355, supported by a stronger USD/JPY, up +0.22% on the day. The Australian markets also follow suit, with the S&P/ASX 200 up +0.33% around 5,400 points, as markets digest the mixed Australian employment data.

The Chinese equities ditch their Asian counterpart and keep the red, with the benchmark Shanghai Composite index down -0.31%; the CSI300 index also drops -0.31%. While Hong Kong markets trade marginally higher near 21,350 levels.