Nikkei 225 Ends Higher On Stimulus Hopes

Nikkei 225 and Asian indices ended mixed as traders betting for stimulus in major economies that can boost hectic growth. The Hang Seng trading 0.29 percent lower at 26,209, the Singapore Straits Times index finished 0.21 percent higher at 3,136 and the Shanghai composite ended 0,11 percent lower to 2,880. Aussie stocks finished higher for second day, the ASX is 1.20% higher at 6,545.

Nikkei 225 finished 0.55% higher at 20,677 despite the sentiment around the Japanese manufacturers turned bearish for the first time since April 2013 in August as reported yesterday by Reuters Tankan monthly survey.

Nikkei 225 continues the rebound from seven month lows after tested the support at 20,300 the lows from early June. A break below that level might accelerate the selloff below the 20,000 mark. On the upside resistance for the Nikkei 225 stands at 20,930 the high from August 5th and then at 21,238 the 50 day moving average.

In Asian forex markets USDJPY trading 0.13% lower at 106.45, the Aussie dollar trades 0,25% higher against greenback at 0.6781, while Kiwi trades lower at 0.6411 versus USD. Gold recovers some of yesterday losses to 1,499, while crude oil is 0.14% higher at $56.22 per barrel.Don’t miss a beat! Follow us on Telegram and Twitter.