6 Jul 2015
Nikkei leads Asian stocks lower, flight to safety on Greece weigh
FXStreet (Mumbai) - Asian equities opened in red in the early Asian and extends their sell-off with the Japanese benchmark, Nikkei leading the downslide. Asian stocks were heavily sold-off as investors flocked to safety assets following a NO vote victory at the Greek referendum which sparked risk aversion across the board.
Among Asian indices, Nikkei on Tokyo drops -1.27% to trades at 20285.66, Australia’s ASX trades -1.20% lower at 5467.80. While South Korea’s Kospi slides -0.98% at 2083.31.
However, Chinese stocks bucked the trend, with the benchmark Shanghai Composite (SSEC) trading dead flat at 3687. The Chinese index remains unperturbed by the Greece referendum, ditching their Asian counterparts.
While there are reports that Central Huijin Investment Co., Ltd., an investment arm of the Chinese government, has purchased exchange traded funds (ETF), which seems to lend support to the Chinese stocks somewhat.
Nikkei Technical Levels
The index has an immediate resistance stands at 20350. Meanwhile, support is seen at 20118 levels and from here to 20075 levels.
Among Asian indices, Nikkei on Tokyo drops -1.27% to trades at 20285.66, Australia’s ASX trades -1.20% lower at 5467.80. While South Korea’s Kospi slides -0.98% at 2083.31.
However, Chinese stocks bucked the trend, with the benchmark Shanghai Composite (SSEC) trading dead flat at 3687. The Chinese index remains unperturbed by the Greece referendum, ditching their Asian counterparts.
While there are reports that Central Huijin Investment Co., Ltd., an investment arm of the Chinese government, has purchased exchange traded funds (ETF), which seems to lend support to the Chinese stocks somewhat.
Nikkei Technical Levels
The index has an immediate resistance stands at 20350. Meanwhile, support is seen at 20118 levels and from here to 20075 levels.