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Asian Indices lower, Nikkei 225 -2.28%

Asian Indices lower, Nikkei 225 -2.28%
Asian Indices lower, Nikkei 225 -2.28%

Asian indices and Nikkei 225 ended lower today as U.S.-China trade war weighs on global economic growth. The Hang Seng trading 0.03 percent lower at 26,224, the Singapore Straits Times index finished 0.33 percent lower at 3,125 and the Shanghai composite ended 0,02 percent lower to 2,879. Aussie stocks finished lower, the ASX ended 0.94% lower at 6,483.

Nikkei 225 finished 0.28% lower at 20,618 as the sentiment around the Japanese manufacturers turned bearish for the first time since April 2013 in August as reported Monday by Reuters Tankan monthly survey. Nikkei 225 getting a boost from CyberAgent +5.25%, Shinsei Bank Ltd. +2.80% and Asahi Group Holdings Ltd, +2.53%. On the other hand Pacific Metals Co. -3.27%, Mazda Motor Corp. -3.23% and Kawasaki Kisen Kaisha Ltd. -3.03%.

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Nikkei 225 consolidates the recent rebound from seven month lows after tested the support at 20,300 the lows from early June. A break below that level might accelerate the selloff below the 20,000 mark. On the upside resistance for the Nikkei 225 stands at 20,930 the high from August 5th and then at 21,238 the 50 day moving average.

In Asian forex markets USDJPY trading 0.18% higher at 106.54, the Aussie dollar trades 0,01% lower against greenback at 0.6775, while Kiwi trades lower at 0.6398 versus USD. Gold trades flat at 1,499, while crude oil is 0.36% higher at $56.33 per barrel.Download our latest quarterly market outlook for our longer-term trade ideas.

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