Nikkei and Asian indices gain further ground today sending equities to three-month highs as risk appetite returns on US-China trade deal hopes for signing a deal in November, and better U.S. Q3 earnings results. The Hang Seng index trades 0.88% higher at 26,902; the Shanghai Composite is 0.85% higher at 2,980. Aussie stocks finished higher for sixth consecutive session; the ASX 200 ended at 6,740.
Nikkei 225 finished 0.30% higher at 22,867 making fresh yearly high for the third trading session. Last week Moody’s affirmed Japan the A1 rating with a stable outlook. Nikkei boosted by Sumco Corp. +5.33%, Minebea Mitsumi Inc. +4.53%, Advantest Corp. +3.80%, and SCREEN Holdings Co. Ltd. +3.08%.
Download our Nikkei 25 Q4 Outlook Today!
Nikkei 225 Resistance and Support
The Nikkei index continues step by step to fresh YTD high, as the positive momentum is intact and Nikkei 225 trading above the major daily moving averages. A warning signal for longs might be that the RSI index has reached 75.05 on the daily chart an overought level that might gather some profit-taking.