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Nikkei 225 Ends Higher, Stalls at 100 Day MA

Nikkei 225 Ends Higher, Stalls at 100 Day MA
Nikkei 225 Ends Higher, Stalls at 100 Day MA

Asian markets finished higher helped by improved sentiment after US and China plan to return to trade negotiations in October. The Hang Seng trading 0.43 per cent higher at 26,631, the Singapore Straits Times index finished 0.11 per cent higher at 3,150, and the Shanghai composite ended 0,44 per cent higher at 2,998. Aussie stocks finished higher; the ASX ended 0.43% higher at 6,641.

Nikkei 225 finished 0.54% higher at 21,199 getting a boost from Sekisui House +4.81%, Casio +3.71%, Daikin +3.65%, Yamaha +3.17%, Omron +2.91%, and Honda +3.01%. On the other hand Rakuten -5.20%, Tokyo Gas -2.62%,  Pacific Matels -3.47%, and Sapporo -2.02%.

The Nikkei closed today above the 200-day moving average registering gains for fourth consecutive trading session. On the downside immediate support stands at 21,145, today’s low and then at 21,099 the 200 day moving average. A break below that level might accelerate the selloff down to 20,500 zone. On the upside resistance for the Nikkei 225 stands at 21,241 today’s high, a break above may carry more bullish implications, perhaps setting the stage for a move up to 21,750 the high from end of July 2019.

In Asian forex markets USDJPY trading 0.08% higher at 107.01, the Aussie dollar trades 0,25% higher at 0.6831, while Kiwi trades 0.48% higher at 0.6402 versus USD. Gold trades lower at 1,508, while crude oil is 0.07% lower at $56.26 per barrel.Don’t miss a beat! Follow us on Telegram and Twitter.

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