Nikkei 225 Ends Lower As Traders Dump Risky Assets Ahead of Trade Talks

Summary:
• Asian indices finished mostly lower today ahead of Thursday’s trade negotiations between officials from China and USA. Global Equities are under pressure

Asian indices finished mostly lower today ahead of Thursday’s trade negotiations between officials from China and USA. Global Equities are under pressure after the Chinese Government said it would retaliate after the US Government put Chinese technology companies on blacklist. The Hang Seng index finished 0.67% lower at 25,723, the Shanghai Composite ended 0.39% higher at 2,924, while the Singapore Straits Times is 0.61% lower at 3,092. Aussie stocks also finished lower the ASX 200, ended 0.71% lower at 6,546.

Nikkei 225 finished 0.61% lower at 21,456 dragged down by Dentsu -3.57%, Sumco -3.42% Mitsui -3.04%, Citizen -2.94% and AGC Inc -2.86%.

Nikkei Support and Resistance Levels

The Nikkei index keeping the bullish momentum despite today’s weakness; the index holds above all major daily moving averages. On the downside, immediate support stands at 21,359, today’s low and then at 21,228 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. On the upside resistance for the Nikkei 225 stands at 21,467 today’s high, a break above, will set the stage for a move up to 21,930 the high from October 1st.

In Asian forex markets USDJPY trading 0.12% higher at 107.21 the Aussie dollar trades 0.18% higher at 0.6740, while NZDUSD trades 0.23% higher at 0.6311 versus USD. Gold trades higher today at 1,509, while WTI crude oil is 0.27 lower at $52.49 per barrel.