- Nikkei 225 16,781, - 0.59%
- Hang Seng 23,745, +0.83%
- Shanghai 2,474, +2.31%
- Sensex 27,863, -0.02%
Asian stocks held firm Monday trade after great trading in week in U.S. Japan's Nikkei slipped slightly 0.4% as the yen rebounded on profit-taking in the dollar, maybe some investors took some money off the table after the market's rally to record highs. Hong Kong index, Hang Seng posted a solid rebound on Monday after the index had been declining for five straight sessions before Monday. Over on the Chinese mainland, the Shanghai Composite Index rallied 2.3%.
Technically the Nikkei has done an impressive rally since middle of this October; the last closely one month was one of the best in the last 3 years. Meanwhile recently we can experience some consolidation which might retest the 16,350 key support level and then it must turn back into bullish mood. This backtest might happen still this week.
The BFM Assets Team.
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