- Wall Steret’s bounce gets continued into Wednesday’s Asian equities.
- Traders are remaining hopeful despite headwinds from trade tensions across the globe.
Asian equity markets continued Wall Streets climb on positive earnings, and Japan’s Nikkei 225 index is lifting into 22,600.00.
Hopes are high that China’s government will go through with promises to increase infrastructure spending and commit to tax cuts for both businesses and workers in an effort to stimulate China’s economy and keep it growing, while equities in the US session saw growth thanks to better-than-expected earnings figures for key blue-chip stocks. Tensions are over trade issues still remain close to the surface however, with a trade delegation from the European Union on their way to the US soon for continued trade talks.
Japan’s Nikkei 225 is up 0.40% for the day, with Tokyo’s Topix index also up about 0.36%, and Hong Kong’s Hang Seng is also up a healthy 0.70% for Wednesday; the Shanghai CSI 300 index is relatively flat for the day at -0.02%, while Australia’s ASX 200 struggles at -0.31% after Wednesday’s early CPI showed inflation continued to lag behind market expectations.
Nikkei 225 levels to watch
This week’s recovery from Monday’s swing low at 22,340.00 is due to hit resistance at the rpevious week’s opening gap of 22,700.00, while a successful push will see last week’s highs at 22,950.00, with more serious support coming from the last H4 swing low at 21,760.00.
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