Up 1.17% on the day
Japan’s Nikkei is up 266 points or 1.22% in early trading. The move higher comes on the heels of some lofty gains in the US. The Nasdaq rose by 1.74%. The S&P rose by 1.07% and closed above its 100 day MA at the 2700.47 level.
China’s stocks are also expected to rise on the opening as a result of the PBOC cutting the reserve requirements for banks.
For the Nikkei, technically the price has closed below the 100 day MA since breaking below on February 6th. The price is moving toward the 50% retracement at 22238.41 and that key 100 day MA at 22352.35. I would expect sellers to lean on a test against that MA should the MA be approached going forward.
The Hang Seng index is up 1.34% in early trading.
The Shanghai composite index is up 0.86%