Asian indices ended higher today mirroring Wall Street Friday’s close to record highs, the Nikkei 225 ended in the positive foot after China cut the seven days reverse repo rate to 2.50%. The Hang Seng index trades 1.20% higher at 26,643; the Shanghai Composite is 0.58% higher at 2,908. Australian stocks are trading lower; the ASX 200 is 0.50% lower at 6,758.
Nikkei 225 finished 0.49% higher at 23,416 close to yearly highs as risk appetite for equities returns to markets. Nikkei boosted by Eisai Co. Ltd. +4.42%, Advantest Corp. +3.67%, Recruit Holdings Co. Ltd. +2.27% and Hitachi Zosen Corp. 2.23%.
The Nikkei index finished higher for the second session in a row close to yearly highs today as the bullish momentum on global equities persists holding above all major daily moving averages. Longs should closely watch the daily RSI index, which hovers at 67.29, close to an overbought level that might trigger profit-taking.