- A strong earnings session plumped up Wall Street stocks, and Asian shares echoed the bullish play.
- Geopolitical tensions remain close by, and bull runs will remain capped.
Asian equities are seeing a mild rebound for Tuesday, climbing higher after following Wall Street’s lead, lifting on another promising earnings session.
Ongoing trade tensions between China and the US have been battering Asia session indexes, with extra focus on Chinese equities, though a boisterous Wall Street session on Monday saw stocks getting a healthy boost from better-than-expected earnings reporting for key US stocks, and the bullish mood carried over into Asia’s Tuesday market window.
Japan’s Nikkei 225 is up 0.64% for the day, with Tokyo’s Topix index close by at 0.62%, while Hong Kong’s Hang Seng index is up 0.90% for Tuesday and Shanghai’s CSI 300 snapping a four-day losing streak to climb 1.52%, though the CSI 300 still remains steeply in the red for 2018, still down over 10% for the year. Australia’s ASX 200 was unable to join in the bullish festivities, and is slumping back -0.40% for Tuesday.
Nikkei 225 levels to watch
Japan’s leading equity index is clipping into 22,650.00 after climbing from yesterday’s low of 22,500.00, and bulls will be eager to push off from the last swing low at 22,350.00, but barriers exist close by after several weeks of consolidation, and bulls will have to bust through the upper bound at 22,775.00 and the last swing high at 22,950.00.
Share
