On July 16th, Asian markets showed a rally.
If not to consider Japan, the MSCI Asia Pacific indexes gained 0.3% thus reaching 403.63 points. Japanese markets were closed for a day-off.
S&P/ASX 200 (Australia) boosted by 0.56%. Kospi (South korea) increased by 0,27% while Hang Seng (Hong Kong ) gained 0,15%.
However, Shanghai Composite failed to follow other Asian indexes and touched the bottom at 2147,96 points after declining by 1.74%.
In Sydney, the following mining stocks appreciated: Fortescue Metals Group Ltd (+2,4%), Newcrest Mining Ltd (+1,7%), BHP Billiton Ltd (+1%), Rio Tinto Ltd (+0,8%).
According to , S&P 500 Index started the day with a rally after breaking above a major level or resistance – the top of the MF sloping channel. If the price consolidates above 1361,50, it will get an opportunity to break above July’s high at 1374,81.
