Asian stocks up across the board as post-US election risk bid continue

Asian stock markets are following Wall Street's lead, bolstered by a resurgence of risk-on market sentiment.
China data on the day is helping to buoy investor confidence in the Pacific-Asia sector.

Joshua Gibson FXStreet

Asian equities are resuming climbing on Thursday, getting lifted by a sweep of bullish sentiment that sprang out of US mid-term elections, where President Donald Trump's own Republican party maintained control of the US Senate, while the opposing Democratic party regained control of the US House of Representatives. Wall Street has seen continued gains following the elections this week, and Asia markets are seeing a similar spring in their step, being aided by a surge in China's annualized Imports, Exports, and USD-denominated trade balance.

Japan's markets are seeing firm bidding on the day, with the Nikkei 225 and Tokyo Topix 200 climbing by 1.88% and 1.78% respectively, while Hong Kong's Hang Seng and Shanghai's Composite CSI 300 are lifting a more sedate 0.71% and 0.30%; Australia is also keen on the day, with the ASX 200 lifting 0.53% for Thursday, while emerging markets are up on the day but less so by comparison, with the broad Asia-Pacific MSCI index in the green by a relatively scant 0.18%.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Last Price: 22485
    Daily change: -5.0e+3 pips
    Daily change: -0.222%
    Daily Open: 22535
Trends:
    Daily SMA20: 22075.25
    Daily SMA50: 22913.8
    Daily SMA100: 22688.67
    Daily SMA200: 22384.68
Levels:
    Daily High: 22570
    Daily Low: 21995
    Weekly High: 22320
    Weekly Low: 20805
    Monthly High: 24480
    Monthly Low: 20800
    Daily Fibonacci 38.2%: 22350.35
    Daily Fibonacci 61.8%: 22214.65
    Daily Pivot Point S1: 22163.33
    Daily Pivot Point S2: 21791.67
    Daily Pivot Point S3: 21588.33
    Daily Pivot Point R1: 22738.33
    Daily Pivot Point R2: 22941.67
    Daily Pivot Point R3: 23313.33

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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