Nikkei 225 Rebounds as Trade Tensions Ease
Nikkei 225 and Asian indices managed to rebound today mirroring Wall Street indices as investor’s worries on US – China trade war ease. The Hang Seng finished 0.08 percent higher at 25,302, the Singapore Straits Times index finished 0.14 percent lower at 3,142 and the Shanghai composite ended 0,42 percent higher to 2,808. Aussie stocks also ended higher, the ASX finished 0.40% higher at 6,595.
Nikkei 225 finished 0.98% higher at 20,655 after Japan Machinery Orders (MoM) registered at 13.9% topping expectations of-1.3% in June.
Nikkei 225 rebound from seven month lows as it met 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 20,930 the high from August 5th and then at 21,253 the 50 day moving average.
In Asian forex markets USDJPY trading 0.32 percent lower at 106.40, the Aussie dollar trades 0,34% lower against greenback at 0.6770, while Kiwi trades lower at 0.6445 versus USD. Gold retreats from recent highs at 1,500, while crude oil is 1.42% lower at $56.29 per barrel.