Asian markets trading higher helped by improved sentiment after US and China will return to trade talks. The Hang Seng trading 0.42 per cent lower at 26,412, the Singapore Straits Times index finished 0.48 per cent higher at 3,145, and the Shanghai composite ended 0,96 per cent higher at 2,985. Aussie stocks finished flat; the ASX ended 0.01% higher at 6,648.
Nikkei 225 finished 0.56% higher at 21,318 getting a boost from Rakuten +4.17%, Taisei +3.45%, Yamato +3.00%, Credit Saison +2.93%, Daiichi +2.58%, and NH Foods +2.47%. On the other hand Alps Alpine -1.90%, NEC -1.84%, CyberAgent -1.48%, and DeNA -1.416%. The Eco Watchers Survey came in at 42.8 in August from previous 41.2, while the Eco Watchers Survey Outlook came down to 39.7 in August from previous 44.3. Japan Gross Domestic Product (quarter over quarter) came in at 0.3% matching forecasts in 2Q. The yearly reading came in at 1.3% as expected in 2Q, 2019.
The Nikkei today, close above the 100-day moving average enhancing the recent bullish momentum. On the upside resistance for the Nikkei 225 stands at 21,333 today’s high, a break above may carry more bullish implications, perhaps setting the stage for a move up to 21,560 the high from August 1st. On the downside immediate support stands at 21,182, today’s low and then at 20,795 the low from September 5th. A break below that level might accelerate the selloff down to 20,500 mark. In Asian forex markets USDJPY trading 0.05% higher at 106.95, the Aussie dollar trades 0,20% higher at 0.6859, while Kiwi trades 0.05% lower at 0.6419 versus USD. Gold trades higher to 1,509, while crude oil is 0.90% higher at $57.03 per barrel.Don’t miss a beat! Follow us on Telegram and Twitter.
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