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  • The Pacific market sector is in full retreat for Friday as the US Fed holds off on rate hikes for now.
  • China’s CPI reading managed to disappoint despite coming in at expectations, worsening the day’s mood.

Asian stocks got pushed back into retreat after the US Federal Reserve held steady on interest rates in advance of December’s widely-expected rate increase, and global equities have rolled over to expose their underbellies heading through Friday’s action.

US mid-term elections held this week sparked a bullish run in broader equity indexes, but an on-hold Fed has soured the buying mood, with Chinese indexes seeing extended declines in early Friday trading after China’s CPI reading for Friday morning barely scraped in at expectations, indicating a worsening decline in the Chinese domestic economy.

The MSCI broad Asia-Pacific index is in the green for the day after struggling in the early hours, up 0.66%,   while Australia’s ASX 200 is softly down around -0.11%.

Japan’s major bourses are in decline mode as well, with the Nikkei 225 retracting 0.85% and the Tokyo Topix index sits back -0.40%, while Chinese equities are falling once more, with the Shanghai CSI 300 in the red for -1.14% and the Hong Kong Hang Seng index in freefall for -2.24%.

Nikkei 225 Technical Levels

Nikkei 225

       Last Price:  22305
       Daily change:  -1.8e+4  pips
       Daily change:  -0.801%
       Daily Open:  22485
       Daily SMA20:  22071
       Daily SMA50:  22913
       Daily SMA100:  22694.82
       Daily SMA200:  22388.78
       Daily High:  22565
       Daily Low:  22370
       Weekly High:  22320
       Weekly Low:  20805
       Monthly High:  24480
       Monthly Low:  20800
       Daily Fibonacci 38.2%:  22444.49
       Daily Fibonacci 61.8%:  22490.51
       Daily Pivot Point S1:  22381.67
       Daily Pivot Point S2:  22278.33
       Daily Pivot Point S3:  22186.67
       Daily Pivot Point R1:  22576.67
       Daily Pivot Point R2:  22668.33
       Daily Pivot Point R3:  22771.67