- Risk aversion is taking the top off of indexes for Tuesday as trade fears become the flavor of the week.
- The Nikkei 225 continues to struggle to recover into a bull stance for 2018.
Equities in the Pacific-Asia session have extended the week’s decline, with the major bourses across Asia and the Antipodeans into the red for Tuesday.
In China, the focal point of trade tensions emanating from the US, equity indexes are down for the day as US equities moved lower in the overnight session. The stand-off over trade between the US and China continues, with President Trump’s administration now seeking to limit investment in US technologies by foreign firms, with some confusion as key personnel within the Trump administration making conflicting statements.
Australia’s ASK index is down -0.33% for Tuesday, with Japan’s 225 Nikkei index off of the day’s open by -0.52%, while China’s bourses are the hardest-hit, with Shanghai’s Composite index down -0.77% and Hong Kong Hang Seng index in the red by -0.88% for the day.
Nikkei 225 levels to watch
Japan’s Nikkei index has managed to recover to the 22,290.00 region, though downside is still remaining on the cards with the index steeply lower for the week, with Monday’s opening prices at 22,580.00. A continued decline for the Nikkei will see action fall into late-May’s lows near 21,910.00, while a bullish reversal has its work cut out for it, with the last swing high resting close to May’s highs near 22,780.00.
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