Asian stocks roll higher, led by underdog superstar Hang Seng index

Asian equities are broadly higher on the day as investors try to shake off trade war rhetoric.
Hong Kong's Hang Seng index has had a stellar run the past month, clearing over its counterparts and neighbors handily.

Joshua Gibson FXStreet

The Pacific-Asia market session is largely seeing gains, and Hong Kong's Hang Seng index has quietly taken top spot for equities in the Asian market sector, climbing over 7.00% in the past month, even as its counterpart Shanghai bourse struggles to remain upright, nearly flat for a similar period.

Japan is firming up for Wednesday, with the Nikkei 225 up nearly 1.10% for today, with the Tokyo Topix index climbing 0.60%. Emerging markets remain fairly well-bid, with the MSCI broad Asia-Pacific(excluding Japan) index up nearly 0.40% for Wednesday, while investor confidence in the Australian region remains off-balance, with the ASX 200 index off a scant -0.06%.

In China, the Hang Seng index has climbed 0.90% for today, bringing the index's one-month total to almost 7.5%, with the Shanghai CSI 300 in the green for an impressive 1.25% for the day, although the Shanghai bourse's losses in the previous months sees the index barely above the waterline, sitting at 0.07% for the month.

Hang Seng Technical Levels

Hong Kong

Overview:
    Today Last Price: 26585.5
    Today Daily change: 2.3e+4 pips
    Today Daily change %: 0.865%
    Today Daily Open: 26357.5
Trends:
    Previous Daily SMA20: 25908.7
    Previous Daily SMA50: 26124.3
    Previous Daily SMA100: 26990.76
    Previous Daily SMA200: 28716.03
Levels:
    Previous Daily High: 26426.5
    Previous Daily Low: 26135
    Previous Weekly High: 26385
    Previous Weekly Low: 25421.5
    Previous Monthly High: 27716.5
    Previous Monthly Low: 24455
    Previous Daily Fibonacci 38.2%: 26315.15
    Previous Daily Fibonacci 61.8%: 26246.35
    Previous Daily Pivot Point S1: 26186.17
    Previous Daily Pivot Point S2: 26014.83
    Previous Daily Pivot Point S3: 25894.67
    Previous Daily Pivot Point R1: 26477.67
    Previous Daily Pivot Point R2: 26597.83
    Previous Daily Pivot Point R3: 26769.17

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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