Japanese shares recover, China rises

|By:, SA News Editor

Japanese shares are in recovery mode today after sharp falls last week, with the Nikkei rising 2.2% following a strong close on Wall Street and the absence of fresh negative catalysts.

China is up 0.1% even though the central bank has again refrained from adding liquidity to the money markets, with the seven-day repurchase rate up 5 bps to 4.93%. Brokers apparently believe that the PBOC's strategy is a sign of economic strength rather than of weakness in the financial industry.

Elsewhere in Asia, Hong Kong +0.5%, India -0.4%.

ETFs: ADRA, AIA, VPL, ASDR, AAXJ, AXJS, EPP, GMF, GMFS, AXJL, UXJ, JPX, PAF, ASEA, EEMA, DVYA