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Asian stocks catching bids, confidence bolstered by China RRR cuts

  • Pacific markets open on the upside for Tuesday, bolstered by China moves.
  • Monday's shock at China's huge Trade Balance miss has largely washed out.

Asian equities are on the rise for Tuesday, jumping higher on headlines of Chinese easing via further reserve ratio cuts in an attempt to unlock further liquidity, helping to bolster stock markets through the Pacific sector and reversing Wall Street's declines to close out Monday.

Japanese stocks are bidding up nicely, with the Nikkei 225 index rising 0.57% with Tokyo's Topix index right behind, up 0.50% for Tuesday; Chinese indexes are opening firmly into the upside, with Hong Kong's Hang Seng index climbing 0.91% and looking for room to run, while Shanghai's CSI 300 clips higher by 0.30%, and Australia's ASX 200 is also up 0.45% for the day. Emerging markets remain off-balance on global growth concerns, with the broad Asia-Pacific MSCI index still in the red by -0.60%.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Today Last Price: 20535
    Today Daily change: 4.0e+4 pips
    Today Daily change %: 1.99%
    Today Daily Open: 20135
Trends:
    Previous Daily SMA20: 20191.25
    Previous Daily SMA50: 21182.43
    Previous Daily SMA100: 22055.12
    Previous Daily SMA200: 22272.39
Levels:
    Previous Daily High: 20240
    Previous Daily Low: 19995
    Previous Weekly High: 20495
    Previous Weekly Low: 19985
    Previous Monthly High: 22720
    Previous Monthly Low: 19300
    Previous Daily Fibonacci 38.2%: 20088.59
    Previous Daily Fibonacci 61.8%: 20146.41
    Previous Daily Pivot Point S1: 20006.67
    Previous Daily Pivot Point S2: 19878.33
    Previous Daily Pivot Point S3: 19761.67
    Previous Daily Pivot Point R1: 20251.67
    Previous Daily Pivot Point R2: 20368.33
    Previous Daily Pivot Point R3: 20496.67

 

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