Nikkei 225 Consolidates Above Recent Lows
Asian equities finished mixed as investors worries about the US-China trade war tensions ease. The Hang Seng trading 0.05 per cent lower at 25,649, the Singapore Straits Times index finished 0.02 per cent lower at 3,066 and the Shanghai composite ended 0,27 per cent lower to 2,894. Aussie stocks trading higher, the ASX is 0.11% higher at 6,478.
Nikkei 225 finished 0.11% higher at 20,479 as trade tensions between South Corea and Japan escalate.
Nikkei 225 getting a boost from Kyowa +3.02%, Tokai +2.87% and DeNA +2.61%. On the other hand, Fuji Electric is -2.86%, Yokogawa -2.33% and Rakuten -6.24%.
The Nikkei index made an inside day today trying to stabilize above seven-month lows and above the strong support at 20,330. On the downside, immediate support stands at 20,433 today’s low and then at 20,200 the low from August 15th. A break below that level might accelerate the selloff below the 20,000 mark. On the upside resistance for the Nikkei 225 stands at 20,511 today’s high and then at 21,179 the 50-day moving average.
In Asian forex markets USDJPY trading 0.03% higher at 105.71, the Aussie dollar trades 0,15% lower against greenback at 0.6741, while Kiwi trades 0.31% lower at 0.6341 versus USD. Gold trades higher at 1,540, while crude oil is 1.13% higher at $55.55 per barrel.