Asian stocks finished mixed on Tuesday as investors worry about the coronavirus impact on the economy as more signs of economic pain will come out the upcoming weeks. Wall Street ended lower as the coronavirus death toll rise. The ISM Manufacturing PMI came in at 49.1 in March beating the expectations of 45.
Nikkei 225 ended 1.37% lower at 17818; the Singapore Straits Times closed is 0.32% lower at 2432. The Hang Seng Index is 0.45% higher at 23184, and the Shanghai Composite ended 1.69% higher at 2780. ASX 200 also finished lower, closed down 2.0% at 5154.
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Nikkei 225 Ends Lower Form Third Day
Nikkei 225 ended 1.36% lower at 17818, after reported 90 more coronavirus cases the biggest one-day increase. Yesterday the Japan Manufacturing PMI registered in at 44.2, below the expectations of 44.8 in March. The Sentiment among Japan’s large manufacturers fell in the first quarter, marking the fifth straight quarter of decline. The Japan Monetary Base came in at 2.8% below the expectations of 3.7% in March. The Japan Foreign Investment in Japan Stocks climbed from ¥-1462.1B to ¥-1421.9B in the week of March 27.
Nikkei 225 dropped for the third consecutive day halting the rebound from recent lows. On the downside, first support seen at 17,707 today’s low, if the index breaks below, the next support will be met at 17,209 the low from March 24 trading session.
On the other side, resistance for Nikkei 225 will be met at 18,132 the daily top. The next resistance stands at 18782, the high from yesterday’s session. If the index moves higher, the next supply zone is at 19322 the high from March 31.
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