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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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