Overnight

The Nikkei hit a seven week high overnight owing to a weaker yen and gains in the U.S. stock market plus word about a huge stimulus package coming from the Bank of Japan in a few weeks, according to reports floating around.

Up 1.45 the Nikkei traded at 16,908.25 after being at least 30 points higher earlier, a high not since since June 1. The stimulus package is reputed to be 20 trillion yen as the Japanese economy struggles to shed it long bout of deflation. One poll of analyst suggested the big surge in monetary policy will come around the end of this month. Couple that with the fiscal spending Prime Minister Shinzo Abe expected to announced later this month and it should be a party stock investors like.

Meanwhile, Hong Kong stocks rallied heading toward what many are calling a bull market owing to expected central bank measures that they hope with stimulate economies. The Hang Seng moved up 0.6%  to 22003.65, heading higher for six of the last seven sessions. The Australian S&P ASX 200 was also up 0.6% while the Kospi stayed flat

The outlook for gold, however, wasn't so bright as The All Ordinaries Gold Index, which serves as a broad market indicator for the gold industry, was down 4.7 percent, while the materials sub-index fell 0.45 percent. In the currency markets the euro traded lower at $1.1016 as investors will no doubt dial in on the ECB monetary policy meeting later today, the first ECB meeting since Brexit. The Australian dollar dropped to $0.7466, down from Monday's $0.76  level.
 

Symbol	Name	Price		Change	%Change
NIKKEI	NIKKEI	16750.88		68.99	0.41%
HSI	HSI	22029.30		146.82	0.67%
ASX 200	S&P/ASX 200	5506.50		17.78	0.32%
SHANGHAI	Shanghai	3050.47		22.57	0.75%
KOSPI	KOSPI Index	2009.42		-6.04	-0.30%