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.
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.
