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Asian stocks cowed by bad China data, Nikkei sinks into ¥21,000

  • Asian session investors are kicking off the new year with a full-on retreat.
  • Market sentiment for Wednesday has soured on Chinese manufacturing data that missed the mark.

Asian markets are starting 2019 off-balance, with already-weak investor sentiment further souring early on Wednesday after the Chinese Caixin Manufacturing PMI for December printed at an unexpected contraction, sending Pacific session traders backing into safe havens and dropping stocks into familiar lows for the new year's first day of trading.

In Japan, selling pressure is light but consistent, with the Nikkei 225 index declining -0.30% into the ¥20,000.00 barrier, while the Tokyo Topix index slides -0.50%, testing below ¥1,500.00. 

Trading in China is significantly more bearish, with the Shanghai CSI 300 Composite down -1.60% and Hong Kong's Hang Seng tumbling -2.50%, with Australia's ASX 200 keeping pace, falling -1.57% into A$5,550.00. Emerging markets remain relatively flat, with the MSCI broad Asia-Pacific index holding at 0.01%, barely changed on the day.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Today Last Price: 19965
    Today Daily change: 0.0 pips
    Today Daily change %: 0.00%
    Today Daily Open: 19965
Trends:
    Previous Daily SMA20: 20905.25
    Previous Daily SMA50: 21453.13
    Previous Daily SMA100: 22290.46
    Previous Daily SMA200: 22359.19
Levels:
    Previous Daily High: 20075
    Previous Daily Low: 19965
    Previous Weekly High: 20215
    Previous Weekly Low: 19300
    Previous Monthly High: 22720
    Previous Monthly Low: 19300
    Previous Daily Fibonacci 38.2%: 20007.02
    Previous Daily Fibonacci 61.8%: 20032.98
    Previous Daily Pivot Point S1: 19928.33
    Previous Daily Pivot Point S2: 19891.67
    Previous Daily Pivot Point S3: 19818.33
    Previous Daily Pivot Point R1: 20038.33
    Previous Daily Pivot Point R2: 20111.67
    Previous Daily Pivot Point R3: 20148.33

 

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