Market Brief: Asian Stocks Higher, Nikkei Slips

Nikkei 225 m
Nikkei 225

Asian markets finished higher on Thursday mirroring Wall Street as the coronavirus fear returns after U.S. and U.K. reported a record number of deaths, while Spain and Italy reported the most cases in a day. Stocks managed to rebound around the globe the last week on hopes that the economy and trade will open up again quicker than expected.

Nikkei 225 finished 0.04% lower at 19345 after BOJ warned that the economy faces extremely high uncertainty over the coronavirus impact. The Singapore Straits Times is 1.03% higher at 2565. The Shanghai Composite is 0.31% higher at 2824, while the Hang Seng Index is 0.90% higher at 24186. ASX 200 trading 1.80% higher at 5300.

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Nikkei 225 Retreat On Coronavirus Worries

Nikkei 225 ended 0.04% lower at 1345, halting a three-day rally. There are some worries about the coronavirus outbreak in Japan and that putting pressure on the domestic stock market. Japan Foreign Investment in Japan Stocks climbed from the previous ¥-1421.9B to ¥422.7B for the week ending April 3. The Foreign Bond Investment was at ¥-1056.4B the previous reading was at ¥-1.7B. 

On the downside, first support seen at 19158 today’s low, if the index breaks below, the next support will be met at 18,744 the low from yesterday’s trading session. If the selling continues below that level, the next support zone stands at 18543 low from April 7.

On the other side, the first resistance for the index stands at 19,406 the daily high. The next resistance stands at 19,455 the high from yesterday’s session. If the Nikkei 225 index moves higher, the next supply zone is at 19560 the high from March 25.

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