Asian markets rally after Wall Street rally

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Asian markets rally after Wall Street rally

SYDNEY, NSW, Australia stock market rallied across Asia on Wednesday after Friday's rally on Wall Street.

Japan's markets were closed for a public holiday. Russia is set to resume gas deliveries on Thursday, which caused the euro to go up on foreign exchange markets.

The Russia-Europe natural gas pipeline that is currently closed for maintenance is due to be turned back on Thursday, according to Joseph Capurso, CBA economist. If the gas flow doesn't resume, the EURUSD could drop by at least 2%. Hong Kong's Hang Seng surged 548.46 points or 2.70 percent to 20,846 on Asian stock markets on Monday. In China, the Shanghai Composite jumped 50.04 points or 1.55 percent to 3,278. The Australian All Ordinaries rallied 90.00 points or 1.32 percent to close Monday at 6,888. In New Zealand, the S&P NZX 50 rose 41.02 points or 0.37 percent to 11,163. By the Sydney close Monday, the euro was up to 1.0146 on foreign exchange trading. The British pound was up to 1.1959. The Swiss franc was strengthened to 0.9745.

The Australian dollar went up to 0.6834.