Japan’s Nikkei Trades Steady After Touching Highest Level in 2019
Arslan Butt • 1 min read
Japanese stocks have enjoyed a strong rally over the past few days following an improvement in the trade war sentiment and a weakening in the safe haven currency Japanese yen. Japan’s Nikkei touched a 10-month high during Wednesday’s trading session, but has pulled back to trade steady in today’s session.
At the time of writing, NIKKEI225 is trading around 22472, the highest level touched since December 2018. The market sentiment has been buoyed by progress in US-China trade talks and the possibility of a Brexit deal emerging soon.
However, the rally was muted today as Wall Street stocks also traded lower on Wednesday over the release of a disappointing retail sales report for the month of September. USD/JPY also traded lower today following the release of this report, causing a muted reaction in stock markets during the Asian session.