The Nikkei 225 rose by 26.26 points (0.10%) to 27,990.65, the Hang Seng Index dropped 0.42% and Hang Seng Tech Index was down by 1.29%.
Japan’s defense minister is taking into consideration the deployment of hypersonic missiles by 2030 to mount deterrence by sharping up its counterattack abilities.
On Thursday Asian stock rose, extending an overnight rally, while the oil prices support levels not seen since before Russia’s invasion of Ukraine.
According to a Reuters report, the Asian market was down sharply on Friday, US interest rate hike next week amid an increased global recession following warnings from the IMF and the world bank.
The index is down more than its benchmark which is 18% from the record high it reached at the beginning of the year. That is a decline considered a bear market.
Chinese exporters increase by 7.1% in August and in the next month increased by 18% almost 12.8%, The offshore Chinese yuan weakened to 6.99 %
On Wednesday Asia- The pacific market was down as investors expect the Federal Reserve to give a summary of economic conditions, this is also known as Beige Book.
On technical fronts, the Nikkei 225 Index; RSI stood at 57.277, and currently, it is trading above all SMA. So, the BUY position can be taken with the following target and stop-loss:
