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Asia Day Ahead: Nikkei 225 reclaimed 40,000 level, trendline support on watch for HSI

Asia Day Ahead: Nikkei 225 reclaimed 40,000 level, trendline support on watch for HSI
Asia Day Ahead: Nikkei 225 reclaimed 40,000 level, trendline support on watch for HSI

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The Asian session is expected to open positively, with the Nikkei up 0.60%, ASX up 0.25%, and KOSPI up 0.14%. The US dollar's bearish move and a halt in US Treasury yields may keep the risk environment supportive in the Asia session. The Japan’s Nikkei may extend its run above the 40,000 level, with tech strength and the Japanese yen trading at a 38-year low. Tesla's above-estimate 2Q vehicle deliveries helped drive a 10% gain in its share price overnight. China’s Caixin services PMI is expected to come in at 53.4 versus the 54.0 prior. The HSI has retraced close to 11% since its May 2024 top. This information has been prepared by IG, a trading name of IG Markets Limited.

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