Asian stocks in retreat once again, Nikkei dropping below ¥21,500

  • Asia sees red as major indexes decline across the board.
  • Investor confidence is evaporating as quickly as it appeared earlier this week.

Pacific-Asia equities are red across the board for Thursday as investor sentiment continues to sour further, and traders are punishing the major indices in the Asian market window, pummeling Japanese and Chinese bourses, while Australia remains surprisingly upright despite a big miss for the Aussie Trade Balance.

Japan is steeping in the red for Thursday, with the Nikkei 225 down over -2.5% into 21,360 while Tokyo’s Topix index sees declines of -2.25%. China is similarly in retreat, with Hong Kong’s Hang Seng index declining -2.60% while Shanghai’s CSI 300 see declines near -1.95%.

Emerging markets are also seeing weakness with the MSCI broad Asia-Pacific (excluding Japan) index in the red for -1.10%, but Australia’s ASX 200 is down a scant -2.0%, a surprising turnout given the Aussie’s $600 million miss on Trade Balance figures early in the day.

Trade war fears and increasing signs of a global economic slowdown have left Pacific-Asia investors risk-averse, and the souring mood surrounding the Trump-Xi tariff truce is doing little to help as traders brace for reheating trade tensions in the near future.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Today Last Price: 21420
    Today Daily change: -4.0e+4 pips
    Today Daily change %: -1.81%
    Today Daily Open: 21815
Trends:
    Previous Daily SMA20: 21841.82
    Previous Daily SMA50: 22217.63
    Previous Daily SMA100: 22580.22
    Previous Daily SMA200: 22412.89
Levels:
    Previous Daily High: 21980
    Previous Daily Low: 21815
    Previous Weekly High: 22435
    Previous Weekly Low: 21484
    Previous Monthly High: 22570
    Previous Monthly Low: 21180
    Previous Daily Fibonacci 38.2%: 21878.03
    Previous Daily Fibonacci 61.8%: 21916.97
    Previous Daily Pivot Point S1: 21760
    Previous Daily Pivot Point S2: 21705
    Previous Daily Pivot Point S3: 21595
    Previous Daily Pivot Point R1: 21925
    Previous Daily Pivot Point R2: 22035
    Previous Daily Pivot Point R3: 22090