Asian markets trading mixed today as investors await the ECB decision on Thursday. The Hang Seng trading 0.01 per cent higher at 26,684, the Singapore Straits Times index finished 0.55 per cent higher at 3,163, and the Shanghai composite ended 0,12 per cent lower at 3,021. Aussie stocks finished lower; the ASX 200 ended 0.5% lower at 6,614.
Nikkei 225 finished 0.35% higher at 21,392 after Japan Money Supply M2+CD (year over year) came in at 2.4% in August. Japan Machine Tool Orders (YoY) down to -37.1% in August from previous -33%.
Nikkei getting a boost from NSK +7.21%, ,Mitsui +5.94%, Fukuoka +5.82%, JTEKT +5.70%, Kawasaki +5.33%, and Unitika +5.05%. On the other hand Daiichi -7.16%, Tokyo Tatemono -5.67%, Toho -4.54%, and DeNA -4.04%.
The Nikkei continues north for sixth consecutive trading session enhancing the recent bullish momentum. On the upside resistance for the Nikkei 225 stands at 21,438 today’s high, a break above, perhaps will set the stage for a move up to 21,560 the high from August 1st. On the downside immediate support stands at 21,350, 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.