Risk-on takes Asia through the roof as FBI clears Clinton emails

The Asian equity markets set-off the US elections week on a positive note, jumping sharply higher on improved risk appetite, after the FBI cleared Clinton of all emails, citing carelessness on Clinton’s part, not criminality.

The Japanese stocks rallied the most as the yen slumped across the board amid renewed risk-on wave, which almost killed the demand for safe-havens such as the Japanese currency.

While higher oil prices also boosted the resource and energy stocks, sending the region’s indices through the roof. However, the Chinese stocks fail to benefit from a better risk environment as the impending political concerns surrounding Hong Kong continue to weigh on the markets.

Meanwhile, Japan’s Nikkei 225 jumps +1.50% to 17,154, the Australian S&P/ASX 200 rallies 1.28% to 5,250. The Chinese equities trade marginally higher, with the benchmark Shanghai Composite index up +0.21%, while CSI300 index trades modestly flat. Hong Kong markets advance +0.60% to trade around 22,780 levels.

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