- Summary:
- Nikkei 225 and Asian indices finished sharply lower today after President Trump rattled markets as he announced an additional 10% tariffs on the remaining
Nikkei 225 and Asian indices finished sharply lower today after President Trump rattled markets as he announced an additional 10% tariffs on the remaining USD300 billion worth of US imports from China, starting September 1st. The Hang Seng finished 2.26 percent lower at 26,943, the Shanghai composite ended 1,33 percent lower to 2,869 and the Singapore Straits Times index finished 0.80 percent lower at 3,265. Aussie stocks also finished lower, ASX added 0.44% at 6,758; Australian Retail sales increased 0.4% in June beating expectations of 0.3% growth, and Australia Producer Price Index (year over year) came in at 2% above forecasts of 1.9% in 2Q.
Nikkei 225 finished 2.11% lower at 21,087 in risk off mood as trade war tensions escalate. BOJ earlier this week left its interest rate policy unchanged, as widely expected, and maintained its guidance of extremely low rates at least through spring next year.
Nikkei 225 crushed today below all major moving averages canceling the recent positive momentum. First support for the index stands at 20,840 the low from June 7th, while another barrier is at 20,320 the low from June 4th. On the upside resistance stands at 21,211 today’s high, and then at 21,300 the 50 day moving average.
In Asian forex markets USDJPY trading 0.45 percent lower at 106.83, the Aussie dollar trades 0,10% higher against greenback at 0.6805, while Kiwi also trades lower at 0.6536 versus USD. Gold is trading higher at 1,435, while crude oil is 1.67 percent higher at $54.85 per barrel.Don’t miss a beat! Follow us on Twitter.