Asian stocks on the rise, Japan's Nikkei 225 lifting for third straight day

Asia session equities are on the rise for Tuesday.
US-China trade tensions have eased off for now after Friday's tariff round-turn.

Joshua Gibson FXStreet

Asian equities are broadly lifting once again as indexes bump upwards for Tuesday, with Japan's Nikkei 225 in the green for a third consecutive trading day.

Equity traders are once again looking towards earnings reporting to lift stocks higher, with hopes for corporate earnings bolstering Wall Street on Monday. The bullish mood has spilled over to Asia-Pacific bourses, and buyers have extended the bullish sentiment into Tuesday's trading. Shanghai equities are on weaker footing for the day, and market tensions will remain close to bolting for the exits at a moment's notice after the US and China imposed hefty tariffs on each other last Friday.

Japan's Nikkei 225 is in the green by 1.05% for the day so far, while Tokyo's Topix index is close behind at 0.95%, and Hong Kong's Hang Seng index trades at 0.25%, with Shanghai's CSI 300 Composite down by -0.25%, and Australia's ASX 200 down by -0.30% following worse-than-expected NAB Business Confidence and Conditions surveys earlier, while the MDCI Asia-Pacific broad index is in the green by nearly 1.2% for the day.

Nikkei 225 levels to watch

The Nikkei is grinding its way back towards the key 23,000.00 level, and while a bullish continuation from current support just above the 22,00.00 major level would leave the index free to challenge the year's highs near 24,200.00, bears regaining control could easily see the Nikkei slip backwards into the last major swing low at 21,475.00.

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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