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Global Stocks: Nikkei and Wall Street add gains
U.S. markets added gains after being closed on Monday for a public holiday. Markets were supported by hopes that a debt deal with Greece will be reached. Greece is supposed to extend its loan agreement for six months today.
On Tuesday the DOW JONES index added +0.16% closing at 18,047.58 points. The S&P 500 closed with a final quote of 2,100.34 at a record high, +0.16%.
Chinese markets are closed today for a public holiday. Hong Kong's Hang Seng closed on +0.19% on Tuesday at 24,832.08 points. China's Shanghai Composite closed at 3,247.43 points +0.78%, heading for the longest winning streak since late November last year. Markets were supported by speculations on further monetary stimulus by the Peoples Bank of China to reive growth.
Japanese markets closed at 8-year highs in today's trading following U.S. stocks on hopes on a Greek debt deal and the BoJ's decision to keep its monetary policy steady. The Nikkei added, closing +1.18% with a final quote of 18,199.17 points. The Bank of Japan held its unprecedented monetary policy steady after an 8 to 1 vote. Interest rates were not changed and remain at 0.10% and the Monetary Base Target was left at 275. The outlook for exports and factory output was upgraded and consumption remains firm according to BOJ Governor Kuroda. Inflation is slowing due to falling energy costs. He stated that the BoJ won't hesitate to achieve the price target and change policy if necessary.
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