Asian stocks open on the downside as Japan, Australia continue Wall Street's slump

Asian stocks geared to rebuff Wall Street's bearish flows, but declines still greet the early Pacific trading window.
After Tuesday's rough trading sessions on the European/US sides, Asia looks set to try and dig out some gains for broader indexes.

Joshua Gibson FXStreet

Following a drawn-out sell-off in Tuesday's Wall Street markets, Wednesday's early Asian markets saw steep losses to kick off the new trading day, but Pacific-Asia session investors are looking eager to bring market sentiment back on-balance.

Japan's Nikkei 225 and Topix 200 opened below Tuesday's Pacific session closing prices, both slipping -1.50% and 1.60% respectively through overnight trading, but the Asiatics are seeing a mild rebound in market sentiment, but despite the early-morning climb the Nikkei is still off by -0.63% and the Tokyo Topix is still in the red by almost -1.00%, while Australia's ASX 200 remains off by -0.66%.

In China, market sentiment is still off-balance but remains surprisingly upright, with Hong Kong's Hang Seng index down -0.50% and Shanghai's CSI 300 actually upright for the day, opening in the green by 0.15%.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Last Price: 21470
    Daily change: 2.8e+4 pips
    Daily change: 1.32%
    Daily Open: 21190
Trends:
    Daily SMA20: 21800.25
    Daily SMA50: 22672.3
    Daily SMA100: 22659.35
    Daily SMA200: 22391.56
Levels:
    Daily High: 21695
    Daily Low: 21180
    Weekly High: 22295
    Weekly Low: 21500
    Monthly High: 24480
    Monthly Low: 20800
    Daily Fibonacci 38.2%: 21376.73
    Daily Fibonacci 61.8%: 21498.27
    Daily Pivot Point S1: 21015
    Daily Pivot Point S2: 20840
    Daily Pivot Point S3: 20500
    Daily Pivot Point R1: 21530
    Daily Pivot Point R2: 21870
    Daily Pivot Point R3: 22045

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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