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Nikkei 255 futures are currently trading at 23,502.5-lower by 0.20% as compared to the previous closing. The contract closed in the positive territory on Monday.
In the Cash Markets, the Nikkei 225 added 0.81% to 23,520.01 at the time of writing.
Asian market closed higher as progress made on U.S-China trade deals amid investors sentiment but the rally was capped due to the situation in Hong Kong after a violent escalation of protest.
the Nikkei 225 rally was supported by gains in Paper& Pulp, Railway& Bus and Real Estate sectors. Credit Saison Co. LTD. and Unitika Ltd. were the best performers. Both rose by 7.77% and 6.37% respectively
On the other hand, Mitsui Mining and Smelting Co. and Concordia Financial Group Ltd. were the worst performers for the session. Both lost 13.31% and 3.40% respectively.
Numbers of stocks which close in green outnumbered the stocks that closed in red by 2077 to 1443 and 233 ended unchanged.
Volatility index for the Nikkei 225 remained unchanged (0.00%) to 14.67.
On the data front, the Machine Tool Order (YoY) report was released today at 1:00 pm ET. The reading has fallen to -37.4% from -35.5% in the previous year.
The PPI for the October month is scheduled to be released today at 18:50 pm ET. The reading is expected to rise to 1.2% from -0.3% in the last month.
USD/JPY rose to 0.21% while EUR/JPY inched up to 0.17% at the time of writing.
On the technical front, the market is expected to trade in the negative territory. The formation of a bearish divergence pattern on the daily chart indicates that the market is expected to trade in the negative territory. the market is trading near 52-week highs and expected to take a correction. The RSI indicates that the market can move on the negative side.
TRADE SUGGESTION-Short@ 23520, STOPLOSS@ 23580, TARGET@ 23350