- Stock markets are opening the new week on the hesitant side as China trade kicks the key Shanghai stock index back lower.
- Australia’s markets are testing higher for the day as the ASX shrugs off the negative impact of tariffs on Australia’s largest trading partner.
Asian session equities are seeing a timid lean into the red for Monday’s early action, though Chinese stocks are stepping further into declines with trade fears continuing to edge risk appetite out of Shanghai bourses.
Trade tensions between the US and China are steadily grinding higher from one week to the next as neither side looks willing to step back to the negotiations table, and market fear is winding up as the deadline for further tariffs on both sides draws near.
Japan’s Nikkei 225 is down a relatively sedate -0.13%, with Tokyo’s Topix index stepping back -0.26%; Hong Kong’s Hang Seng index is relatively flat at -0.14%, while Shanghai’s CSI 300 index sees trade fear declines, in the red for -1.65% for the day thus far. Australia’s ASX 200 is relatively unfazed, stepping up for 0.45%, while the MSCI broad Asia-Pacific index remains unchanged as of yet.
Nikkei 225 levels to watch
Japan’s Nikkei 225 index is back into the 22,500.00 level once again, a familiar level through the majority of July’s trading, and the last set of highs and lows sees constricting barriers at 22,350.00 and 22,615.00, and bullish action will need to break through resistance at July’s highs near 22,950.00 to make a play over the 23,000.00 major technical barrier, while a sell-off will be seeing support from the July 10th peak of 22,320.00.
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