Asian indices ended higher on improved sentiment over the trade negotiations between officials from China and USA in Washington. The Hang Seng index finished 2.32% higher at 26,312, the Shanghai Composite ended 0.88% higher at 2,973, while the Singapore Straits Times is 0.67% higher at 3,110. Aussie stocks also finished higher; the ASX 200 ended 0.91% at 6,606.
Nikkei 225 finished 1.15% higher at 21,798 as President Donald Trump’s remarks on progress in China-U.S. trade negotiations lifted investors risk appetite. Nikkei 225 boosted by Sumco +8.55%, Kawasaki Kissen +5.74%, FamilyMart +5.64%, Mitsui +4.08% and Nikkon +3.70%.
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Nikkei Support and Resistance
The Nikkei index ended on positive foot for third day in a row, keeping the bullish momentum as the index holds above all major daily moving averages. The index today stalled at 21,800 previous resistance zone from July. On the upside resistance for the Nikkei 225 stands at 21,820 today’s high, a break above, will set the stage for a move up to 21,930 the high from October 1st.
On the downside, immediate support stands at 21,658, today’s low and then at 21,236 the 100-day moving average. A break below that level might open the way for a move down to 20,800 the low from September 5th.
In Asian forex markets USDJPY trading 0.05% lower at 107.90 the Aussie dollar trades 0.38% higher at 0.6785, while NZDUSD trades 0.25% higher at 0.6335 versus USD. Gold trades higher today at 1,500, while WTI crude oil is 1.73 higher at $54.47 per barrel.Download our latest quarterly market outlook for our longer-term trade ideas.
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