Nikkei 225 is trading down 2.23% at 25985.40
Asia Pacific stocks were down on Friday morning, with investors weighing the escalating Russian invasion of Ukraine and the global growth risks from soaring costs of commodities including oil.
Japan’s Nikkei 225 fell 1.90% by 9:44 PM ET (2:44 AM GMT). Data released earlier in the day showed that the jobs/applications ratio was 1.2, and the unemployment rate was 2.8%, in January 2022.
South Korea’s KOSPI fell 1.13%, with the consumer price index growing 3.7% year-on-year and 0.6% month-on-month in February.
In Australia, the ASX 200 fell 0.86%, with retail sales growing 1.8%.
Hong Kong’s Hang Seng Index slid 2.19%.
China’s Shanghai Composite was down 0.27% while the Shenzhen Component was down 0.35%.
U.S. Treasuries rallied, with the benchmark 10-year yield falling below 1.80%. The gap between two-year and 10-year yields is the smallest since March 2020, indicating expectations of slower economic growth.
In the latest news on the invasion, Russia began shelling the Zaporizhzhia power plant in Enerhodar, Ukraine. Some investors warned that the West’s sanctions in response to the invasion are creating risks including high raw material costs, as well as damage to global confidence that could decrease investment and the potential for credit stress to ripple through markets.
On technical fronts Nikkei 225 RSI stood at 38.33 and currently it is trading below all MA. So, SELL position can be taken with following target and stoploss:
TRADE SIGNAL – : Nikkei 225 – SELL: 25985.40, TARGET: 25769.85, STOP LOSS : 26256.02