Asian markets mostly mixed, Shanghai extends weakness

FXStreet (Mumbai) – Asian stocks traded mixed on Friday, with the Australian benchmark posting modest gains despite the mixed cues overnight from Wall Street and lower commodity prices. US markets ended in the red on Thursday after earnings results overshadowed upbeat US GDP data while increased Sept rate-hike bets also kept a lid on the US indices.

The Japanese benchmark Nikkei 225 is flat at 20525. While benchmark Australian S&P/ASX 200 index pared early gains and now trades 0.27% higher at 5685 points, with banking stocks emerging main winners.

While Chinese stock market falls for the second straight session after China’s securities regulator said on Friday that it had restricted 24 stock trading accounts for suspected trading irregularities. Hong Kong’s benchmark Hang Seng index trades 0.26% higher at 24561 while mainland China’s benchmark Shanghai Composite loses -0.80% now and trades near 3676.

SSEC Technical Levels

The index has an immediate resistance stands at 3760. Meanwhile, support is seen at 3585 levels and from here to 3500.

Asian stocks traded mixed on Friday, with the Australian benchmark posting modest gains despite the mixed cues overnight from Wall Street and lower commodity prices. US markets ended in the red on Thursday after earnings results overshadowed upbeat US GDP data while increased Sept rate-hike bets also kept a lid on the US indices.

(Market News Provided by FXstreet)