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Asian stocks down for Friday as China data weighs

  • Risk-off marks the end of this trading week for the Asian bourses as major indexes dip red once again.
  • China Retail Sales missed big today, coming in at 8.1% (expected 8.8%), while Industrial Production slipped to 5.4% (expected 5.9%).

Asian equities remain off-balance for Friday as risk aversion returns to the fold, knocking bullish traders off-balance and keeping safe haven assets well-bid to cap off the trading week, with a missed data reading from China further entrenching the Pacific sector in the red as investor sentiment continues to skew towards the downside.

Despite a bumper reading in Japan’s Tankan indicators early Friday, Japanese stocks are in the red for the day amidst broader market tensions and still-rising trade war fears, and the Nikkei 225 index is down about -1.90% with Tokyo’s Topix index declining -1.40% for Friday; China is likewise off-balance after Chinese Retail Sales and Industrial Production both missed market estimates, and the Hong Kong Hang Seng index is retreating -1.50% with Shanghai’s CSI 300 down -1.00%. Australia, forever tied closely to China in both trade and economic growth, is also seeing traders retreat on the day’s data miss, and the ASX 200 is down -1.05% for Friday.

Despite the usual market fray plaguing Asian stocks, emerging markets are remaining comparatively upright,   with the MSCI broad Asia-Pacific (excluding Japan) index up nearly 0.55% on the day.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
       Today Last Price:  21405
       Today Daily change:  -4.9e+4  pips
       Today Daily change %:  -2.24%
       Today Daily Open:  21895
Trends:
       Previous Daily SMA20:  21754.32
       Previous Daily SMA50:  21948.23
       Previous Daily SMA100:  22515.56
       Previous Daily SMA200:  22431.19
Levels:
       Previous Daily High:  21920
       Previous Daily Low:  21685
       Previous Weekly High:  22720
       Previous Weekly Low:  21075
       Previous Monthly High:  22570
       Previous Monthly Low:  21180
       Previous Daily Fibonacci 38.2%:  21830.23
       Previous Daily Fibonacci 61.8%:  21774.77
       Previous Daily Pivot Point S1:  21746.67
       Previous Daily Pivot Point S2:  21598.33
       Previous Daily Pivot Point S3:  21511.67
       Previous Daily Pivot Point R1:  21981.67
       Previous Daily Pivot Point R2:  22068.33
       Previous Daily Pivot Point R3:  22216.67

 

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