6 August Nikkei Index Fundamental Outlook: Asian stocks on the hesitant side


Stock markets are opening the new week on the hesitant side as China trade kicks the key Shanghai stock index back lower. However, how is Japan’s Nikkei 225 index moving today? Read on as this 6 August Nikkei Index Fundamental Outlook will show you.

6 August, GKFX – Asian session equities are seeing a timid lean into the red for Monday’s early action, though Chinese stocks are stepping further into declines with trade fears continuing to edge risk appetite out of Shanghai bourses.

China Sees Decline on Trade

Trade tensions between the US and China are steadily grinding higher from one week to the next as neither side looks willing to step back to the negotiations table, and market fear is winding up as the deadline for further tariffs on both sides draws near.

Japan’s Nikkei 225 is down a relatively sedate -0.13%, with Tokyo’s Topix index stepping back -0.26%; Hong Kong’s Hang Seng index is relatively flat at -0.14%, while Shanghai’s CSI 300 index sees trade fear declines, in the red for -1.65% for the day thus far.

Australia’s ASX 200 is relatively unfazed, stepping up for 0.45%, while the MSCI broad Asia-Pacific index remains unchanged as of yet.

6 August Nikkei Index Fundamental Outlook

Japan’s Nikkei 225 index is back into the 22,500.00 level once again, a familiar level through the majority of July’s trading, and the last set of highs and lows sees constricting barriers at 22,350.00 and 22,615.00.

A bullish action will need to break through resistance at July’s highs near 22,950.00 to make a play over the 23,000.00 major technical barrier, while a sell-off will be seeing support from the July 10th peak of 22,320.00.

Disclaimer

This article 6 August Nikkei Index Fundamental Outlook was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

    Share Your Opinion, Write a Comment