Nikkei 225 finished lower while most of the Asian indices ended higher mirroring the strong finish from Wall Street. Uncertainty from the coronavirus outbreak remains the main theme despite the recent gains and encouraging Chinese manufacturing data. The PMI report was at 52, while the consensus estimate was 45, and the February reading was at a record low of 35.7. The Non-Manufacturing PMI came in at 52.3, also above the expectations of 37.8 in March.
In Japan the Construction Orders registered at 0.7%, topping the forecasts of -0.7% in February, while the Housing Starts came in at -12.3% above the expectations of -14.7% in February. The Annualized Housing Starts increased to 0.871M in February from previous 0.813M.
Meanwhile, the Japanese Foreign Minister Motegi issued travel advice against 73 countries and regions, including, Europe the US, and the UK.
Resistance for Nikkei 225 seen at 19,336 the daily high. The next resistance to the upside stands at 19383 the high from March 27. If the Nikkei breaks higher, the next supply area is at 19560 the high from March 9.