Asian stocks buoyed by dovish Fed, declining Treasury yields boost equities

Asian stocks buoyed by dovish Fed, declining Treasury yields boost equities

Asian equities are largely on the bullish side after the US Federal Reserve’s chairman, Jerome Powell, reversed the US central bank’s previously-hawkish policy, suggesting that current rates are much closer to normal than his previous showings, wordlessly suggesting to broader markets that the Fed may ease off their current path of rate hikes much sooner than previously expected.

Japanese indexes are seeing a decent Thursday, with both the Nikkei 225 and Tokyo Topix up by almost 0.70%, with emerging markets up a similar amount, with the MSCI broad Asia-Pacific index up 0.65% into 152.75.

Australia’s ASX 200 is also in the green, up 0.60% for the day after missing out on much of the bullish action in recent Pacific market sessions.

In China, stock investors are holding near the middle, with the Hong Kong Hang Seng index down a scant -0.04% and Shanghai’s CSI 300 index near the mid-line at 0.06%; Chinese equities have had a brutal 2018, with the Hang Seng still off from 1-year highs by -10% while the CSI 300 remains in the red by a massive -21.34% over the past year.

Nikkei 225 Technical Levels

Nikkei 225

Overview:
Today Last Price: 22290
Today Daily change: -1.3e+4 pips
Today Daily change %: -0.558%
Today Daily Open: 22415

Trends:
Previous Daily SMA20: 21872.58
Previous Daily SMA50: 22418.73
Previous Daily SMA100: 22604.92
Previous Daily SMA200: 22392.47

Levels:
Previous Daily High: 22420
Previous Daily Low: 22065
Previous Weekly High: 21925
Previous Weekly Low: 21180
Previous Monthly High: 24480
Previous Monthly Low: 20800
Previous Daily Fibonacci 38.2%: 22284.39
Previous Daily Fibonacci 61.8%: 22200.61
Previous Daily Pivot Point S1: 22180
Previous Daily Pivot Point S2: 21945
Previous Daily Pivot Point S3: 21825
Previous Daily Pivot Point R1: 22535
Previous Daily Pivot Point R2: 22655
Previous Daily Pivot Point R3: 22890

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