Asia-Pacific’s biggest Asian indices are up 1.04% for the second day in a row. Some of the indices are showing very little growth: China’s Shanghai Composite gained only 0.09%, while Shenzhen Composite gained slightly more – 0.22%. 

Korean KOSPI increased by the same amount. The Hang Seng Index of Hong Kong gained 0.72% and the Nikkei 225 of Japan gained 0.65%. The Australian S&P/ASX 200 gained the most, 1.04%. So it makes sense to invest in Asian indices today. 

Tonight is the expected speech of the head of FRS, from which they hope to get some information about the future course of the monetary policy of the central regulator. At the same time, since the markets are already prepared for the Fed’s tougher stance, the speech of its head will not be able to produce a strong negative effect.

Another positive factor was the rise in U.S. stock indicators by 1-1.7%. It was due to the latest statistical data, according to which the estimates of the US GDP contraction improved from 0.9% to 0.6%.

Chinese authorities decided to allocate 1 trillion yuan (equivalent to 146 billion U.S. dollars) to support the country’s economy, with an emphasis on spending to improve infrastructure.

It also decided that an additional 300 billion yuan will be provided, following a similar amount allocated in June for use by state-owned banks for infrastructure projects.

Local governments will be allocated ¥500 billion in government bonds against quotas that haven’t been used before. State-owned energy companies will be allowed to sell their bonds for a total of 200 billion yuan.

Earlier we reported about another rally in the U.S. stock markets.