- Asian equities on the rise after steady declines in the run-up to last Friday’s trade tariffs between the US and China.
- US NFP figures bolstered equity markets to cap off last week, and the bullish sentiment is continuing into the new week.
Asian stocks are on the rise for Monday after Wall Street ended last Friday in the green following the latest US Non-Farm Payrolls which posted better-than-expected jobs figures, and the bullish equity sentiment has continued over into the new week, dragging Asia indexes higher.
US-China trade tensions leading up into last week’s tit-for-tat tariffs between the two countries have washed out now that the big event has passed, and Asian equities are back on the rise after last week’s steady decline.
Japan’s Nikkei 225 is up by 1.3% for the day, while the Topic Tokyo index matches pace and rises by 1.25%, and Hong Kong’s Hang Seng index is positive by 1.55% for Monday, with Shanghai’s CSI 300 bounding upwards by 2.1% for Monday. The MSCI AsiaPacific broad index is relatively sedate at 0.81%, and Australia’s ASX 200 is sitting steady at 0.14%.
Nikkei 225 levels to watch
The Nikkei 225 bottomed out at a three-month low last week of 21,475.00, and the bullish correction sees the Nikkei climbing into near-term resistance from 21,110.00 at the June 19th swing low, with last week’s peak at 22,330.00.
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