Asian Market Cautious On Monday, Nikkei 225 down 1.04% – Outlook Negative
Mar, 19th 10:56
Asian share markets traded mixed on Monday as caution gripped investors in a week in which the Federal Reserve is likely to hike U.S. interest rates and perhaps signal that as many as three more lie in store for the rest of the year.
Japan stocks were lower after the close on Monday, as losses in the Power, Shipbuilding and Automobiles & Parts sectors led shares lower.
At the close in Tokyo, the Nikkei 225 fell 1.04%.
The best performers of the session on the Nikkei 225 were Astellas Pharma Inc, which rose 3.60% or 55.8 points to trade at 1604.3 at the close. Meanwhile, JGC Corp added 1.54% or 35.0 points to end at 2312.0 and The Kansai Electric Power Co was up 1.07% or 13.5 points to 1280.5 in late trade.
Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2841 to 616 and 125 ended unchanged.
Shares in Astellas Pharma Inc rose to 52-week highs; up 3.60% or 55.8 to 1604.3.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 3.37% to 21.79.
On the technical charts, Nikkei 225 is trading in the negative zone below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 41.88 and the MACD is above the signal line. The market is expected to trade in the negative zone.
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