JAPAN-STOCKS

Nikkei 225 down 0.67%, Japan Stocks Lower at Close – Outlook Positive

Japan stocks were lower after the close on Monday, as losses in the Gas & Water, Warehousing and Communication sectors led shares lower.

At the close in Tokyo, the Nikkei 225 fell 0.67% to hit a new 3-month low.

The best performers of the session on the Nikkei 225 were KDDI Corp, which rose 3.01% or 77.0 points to trade at 2633.0 at the close. Meanwhile, Chugai Pharmaceutical Co., Ltd added 2.54% or 130.0 points to end at 5250.0 and Fast Retailing Co., Ltd. was up 2.29% or 940.0 points to 41920.0 in late trade.

The worst performers of the session were Mitsui Mining and Smelting Co., which fell 7.20% or 362.5 points to trade at 4672.5 at the close. Showa Denko K.K. declined 7.03% or 355.0 points to end at 4695.0 and Tokai Carbon Co., Ltd. was down 6.44% or 118.0 points to 1715.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 9.31% to 26.88.

On the technical charts, Nikkei 225 futures were trading positive near the lower band of the Bollinger bands. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 38.09 and the MACD is below the signal line. The market is expected to trade positive.

Trade suggestion:

Buy stop at 21115, Take profit at 21190, Stop loss at 20935

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