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Asian stocks on the softer side for Thursday, but still in the green

  • China concerns seeing Asian equities softening their advances.
  • PBOC cash injections are raising concerns of a possible cash crunch.

Asian stocks are hesitating for Thursday, largely still in the green for the day but keeping restrained as uneasiness surrounding China begins to drag down equities.

Concerns of a cash crunch in China are on the rise as the People's Bank of China (PBoC) continues to inject record amounts of cash into the financial markets, dumping around 1.14 trillion yuan via reverse repos in recent days. Further Cina concerns are seeing rise on Huawei's global rejection, with US lawmakers looking to ban the sale or use of US technology to Huawei, and with several key countries looking to limit their exposure to Huawei technology over concerns that the company's devices, under Chinese law, can be accessed and spied on by the Chinese government at will, exposing potentially vital systems to tampering.

Japan's Nikkei 225 is down gently on the day, declining -0.13%, with the Tokyo Topix index up 0.35%; China is seeing sedate gains as well, with Hong Kong's Hang Seng up 0.19% and Shanghai's CSI 300 up 0.30%. Australia's ASX 200 is up a comparable 0.25%, while emerging markets remain flat on the day, in the red a scant -0.05%.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
    Today Last Price: 20400
    Today Daily change: -1.3e+4 pips
    Today Daily change %: -0.609%
    Today Daily Open: 20525
Trends:
    Previous Daily SMA20: 20121.75
    Previous Daily SMA50: 21108.73
    Previous Daily SMA100: 22011.26
    Previous Daily SMA200: 22254.27
Levels:
    Previous Daily High: 20595
    Previous Daily Low: 20325
    Previous Weekly High: 20495
    Previous Weekly Low: 19985
    Previous Monthly High: 22720
    Previous Monthly Low: 19300
    Previous Daily Fibonacci 38.2%: 20491.86
    Previous Daily Fibonacci 61.8%: 20428.14
    Previous Daily Pivot Point S1: 20368.33
    Previous Daily Pivot Point S2: 20211.67
    Previous Daily Pivot Point S3: 20098.33
    Previous Daily Pivot Point R1: 20638.33
    Previous Daily Pivot Point R2: 20751.67
    Previous Daily Pivot Point R3: 20908.33

 

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