Shanghai Composite halts 3-day decline, rebounds +1.5%

FXStreet (Mumbai) – Most Asian indices traded in the green on Wednesday tracking upbeat close on Wall Street overnight, while Chinese equities halted their recent run of losses and turned in the positive territory boosting market sentiment.

However, Nikkei emerged the loser, bucking the trend on stronger yen. The Japanese benchmark Nikkei 225 loses -0.48% to trade at 20230.65. While benchmark Australian S&P/ASX 200 index edged nearly 1% higher at 5641 points, with miners lifted on stabilizing gold prices and rebounding iron-ore prices.

While Chinese stock market edged higher on Wednesday with Hong Kong’s benchmark Hang Seng index 0.38% higher at 24600 while mainland China’s benchmark Shanghai Composite advancing 1.57% to trade at 3710.

SSEC Technical Levels

The index has an immediate resistance stands at 3900. Meanwhile, support is seen at 3660 levels and from here to 3540.

Most Asian indices traded in the green on Wednesday tracking upbeat close on Wall Street overnight, while Chinese equities halted their recent run of losses and turned in the positive territory boosting market sentiment.

(Market News Provided by FXstreet)