Nikkei 225 Higher, Ahead of Jackson Hole

[vc_row][vc_column][vc_column_text]Nikkei 225 and Asian equities finished  higher today as investors focus on Jackson Hole meeting today. The Hang Seng trading 0.54 per cent higher at 26,189, the Singapore Straits Times index finished 0.54 per cent higher at 3,111 and the Shanghai composite ended 0,49 per cent higher to 2,897. Aussie stocks finished higher, the ASX ended 0.30% higher at 6,523.

Nikkei 225 finished 0.40% higher at 20,710 after Japan National Consumer Price Index (YoY) came in at 0.5% in line with expectations in July.

Nikkei 225 getting a boost from FamilyMart. +6.05%, Japan Steel Works +2.82% and Oji Holdings Inc +2.52%. On the other hand Taiyo Yuden Co. Ltd. -3.38%, Hitachi Zosen Corp. -2.05% and Olympus Corp.-1.76%.

The index regainds it’s positive momentum after it managed to rebound from seven month lows. On the downside immediate support stands at 20,580 today’s low and then at 20,477 the low from August 21st. 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 21,208 the 50 day moving average.

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In Asian forex markets USDJPY trading 0.19% higher at 106.63, the Aussie dollar trades 0,03% lower against greenback at 0.6753, while Kiwi trades 0.24% higher at 0.6379 versus USD. Gold trades lower at 1,497, while crude oil is 0.04% higher at $55.37 per barrel.[/vc_column_text][vc_column_text]Don’t miss a beat! Follow us on Telegram and Twitter.

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