Nikkei 225 Hits Seven Month Lows

Summary:
• Asian indices and Nikkei 225 continued lower despite an improvement in risk sentiment as the USDCNH stabilizes. The Hang Seng finished 1.19 percent lower

Asian indices and Nikkei 225 continued lower despite an improvement in risk sentiment as the USDCNH stabilizes. The Hang Seng finished 1.19 percent lower at 25,838, the Singapore Straits Times index finished 0.77 percent lower at 3,170 and the Shanghai composite ended 1,79 percent lower to 2,770. Aussie stocks register the worst day of 2019, ASX lost 2.20% at 6,493, as the Reserve Bank of Australia kept interest rate unchanged at 1.00% at a record low as widely expected by markets..

Nikkei 225 finished 0.65% lower at 20,585 as US – China trade war tensions escalate. Japan June preliminary leading indicator index came in at 93.3 below expectations of 93.5.

Nikkei 225 trades now at seven month low looking for support at 20,315 the lows from early June. A break below that level might trigger a selloff below the 20,000 mark. On the upside resistance for the Nikkei 225 stands at 20,607 today’s high, and then at 21,292 the 50 day moving average.

In Asian forex markets USDJPY trading 0.47 percent higher at 106.45, the Aussie dollar trades 0,50% higher against greenback at 0.6789, while Kiwi also trades higher at 0.6543 versus USD. Gold is trading higher at 1,463, while crude oil is 1,08 percent higher at $55.28 per barrel.Don’t miss a beat! Follow us on Twitter.