Nikkei 225 Rebounds from Daily Lows, Sentiment still Fragile
Nikkei 225 continued lower while Asian indices finished mixed despite an improvement in risk sentiment as the USDCNH stabilizes below the 7 critical mark. The Hang Seng finished 0.06 percent lower at 25,961, the Singapore Straits Times index finished 0.37 percent higher at 3,181 and the Shanghai composite ended 0,21 percent lower to 2,772. Aussie stocks ended higher, ASX ads 0.16% at 6,488, as the Reserve Bank of Australia yesterday kept interest rate unchanged at 1.00%.
Nikkei 225 finished 0.33% lower at 20,516 rebounding from the daily low at 20,406. 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 20,9 the high from August 5th and then at 21,265 the 50 day moving average.
In Asian forex markets USDJPY trading 0.21 percent lower at 106.22, the Aussie dollar trades 0,56% lower against greenback at 0.6721, while Kiwi slumped to three year lows at 0.6377 versus USD. Gold is trading higher at 1,489, while crude oil is 0,34 percent lower at $53.50 per barrel.