- Pacific markets are extending Wall Street's declines as investors remain trepidatious.
- Risk appetite has vanished as traders get let down by China's Xi.
Pacific session equities are following Wall Street's lead, heading lower as market participants continue to fear a steepening global economic slowdown. Wall Street slid back on Monday, and Asia's early session is extending the slide, fueled by China's Xi Jinping, who gave a keynote speech but stopped short of introducing any new fiscal measures to help prop up the Chinese economy, and the lack of stimulus from China is seeing investors withdraw further into their safe havens, sending indexes lower as risk appetite continues to shrivel.
Asian indexes are largely red across the board for today, with Japan's Nikkei 225 declining -1.70% and Tokyo's Topix index retreating -1.80%, while Hong Kong's Hang Seng is down -1.40% and Shanghai's CSI Composite sees -1.25% on the day. Australia's ASX 200 index is also down -1.25%, while emerging markets remain on-balance but limited, with the broad Asia-Pacific MSCI index in the green for a scant 0.25%.
Nikkei 225 levels to watch
Nikkei 225
Overview:
Today Last Price: 21155
Today Daily change: 5.0e+3 pips
Today Daily change %: 0.237%
Today Daily Open: 21105
Trends:
Previous Daily SMA20: 21713.32
Previous Daily SMA50: 21890.13
Previous Daily SMA100: 22487.82
Previous Daily SMA200: 22430.77
Levels:
Previous Daily High: 21570
Previous Daily Low: 20985
Previous Weekly High: 21920
Previous Weekly Low: 20935
Previous Monthly High: 22570
Previous Monthly Low: 21180
Previous Daily Fibonacci 38.2%: 21208.47
Previous Daily Fibonacci 61.8%: 21346.53
Previous Daily Pivot Point S1: 20870
Previous Daily Pivot Point S2: 20635
Previous Daily Pivot Point S3: 20285
Previous Daily Pivot Point R1: 21455
Previous Daily Pivot Point R2: 21805
Previous Daily Pivot Point R3: 22040
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