THURSDAY 4/9/15; Chinese Stock Rally Continues; STZ; Wholesale Trade

The NIKK gains +0.8% to 19938 only a whisker away from 20K printing 19957 intraday. The dollar/yen is above 120 so the weaker yen sends stocks higher. Banzai! The Nikkei Index is at the highest price since mid-2000 nearly 15 years ago. Exporters such as Sony and Nissan Motor bounce on the weaker yen sending the broad indexes higher. The land down under, SPASX200, finishes down -0.5% under 5935. The demand for commodities is lackluster going forward.

The KOSPI ends the session flat but at multi-month highs. The BOK maintains current interest rates at 1.75% as expected. Noble Group tumbles nearly -8% in Singapore on news that short-seller Muddy Waters has a short position against the company.

Emerging markets are on a tear higher. The SSEC is running parabolic and the flood of Chinese retail money is now chasing stocks in Hong Kong via the Connect link. The HSI explodes +2.7% higher with the SSEC taking a -0.9% rest. Dollar/Yuan 6.2059. Chinese students, housewives and anyone that can scrape together a couple bucks are buying stocks regardless of price for fear of missing out on the huge gains due to the vertical move higher in equities. This behavior never ends well.

The Hang Seng Index experiences a huge 












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 drops -2% after reporting improving sales but guidance for Gap is weak. Software provider CTXS is crushed -6% after lowering revenue estimates. EBAY trades higher in late trading as plans continue to spin off the PayPal unit.