Asian markets higher, China bucks the trend -2.50%

FXStreet (Mumbai) – Japan markets were headed for a second consecutive day of gains on Wednesday, but Chinese stocks continued their recent slump, with investor sentiment mixed amid several large geopolitical developments. Nikkei on Tokyo defends mild gains and trades 0.38% higher at 20467.46.

Chinese equities extended losses in to a second day with Shanghai Composite Index (SSEC) rallying nearly -2.50% lower, trading around 3830 levels. Markets remained cautious ahead of Greek parliamentary vote and Yellen testimony while cheering the latest series of upbeat Chinese fundamentals.

The benchmark Australian S&P/ASX 200 index rallied 0.88% to 5,626 in Sydney, led by oil and gas stocks, and supported by retailers. While traders cheered the latest series of upbeat Chinese fundamentals.

Nikkei Technical Levels

The index has an immediate resistance stands at 20500. Meanwhile, support is seen at 20225 levels and from here to 20089 levels.

Japan markets were headed for a second consecutive day of gains on Wednesday, but Chinese stocks continued their recent slump, with investor sentiment mixed amid several large geopolitical developments. Nikkei on Tokyo defends mild gains and trades 0.38% higher at 20467.46.

(Market News Provided by FXstreet)