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