Asia stock market update

Nikkei 225 Index closed Friday’s session at 21877.89 -38.42 down 0.18%. The Index held on above 21600.00 two consecutive sessions, but still to break at 22068.00. The critical support price point to watch in future sessions is at 21600.00. The Index could fall if it slips under 21600.00. Major events to watch today is at 09:50 Japan’s capital spending YoY reports.

Shanghai Composite Index closed Friday’s session at 2852.351 +6.130 up 0.22%.

The Index fell from 2900.000 level in mid-May and only recovered approximately 50% of its losses as of Friday’s close. The critical price points to watch, first at 2845.685, support the current crucial level that could determine its next move, 2809.665 the previous support level and 2900.00 the primary resistance level.

Major events to watch today is at 11:45 the release of Chinese Caixin Manufacturing PMI reports.

Hang Seng Index closed Friday’s session at 22961.47 -171.29 down 0.74%. The Index is still to recover from a steep drop in mid-May from 24200.00 due to the Hong kong crisis reaching lows of 22540.00 on the 25th of May. The Index close Friday’s session around a critical price point at 22950.00, This is a crucial price point to watch in today’s session, Prices could either break and hold to the upside or fall below and head down to 22750.00 and 22540.00

S&P ASX 200 Index closed Friday’s session at 5755.70 -95.4 down 1.63%. The Index was dragged down by the Major banks following a three day surged, which saw the big four banks share prices rose more than 20%.

The Index broke through a significant price point around 5865.00 at the end of last week’s session but failed to hold and retreated, closing the trading week at 5755.70. 5865.00 is the crucial resistance point to watch in the future sessions; it is more likely to correlate to the break-out point in February 2019. The primary support levels are estimated at 5735.00, 5660.00, 5534.00