By Chris Becker
Looking at Chinese stocks first, where last week saw the Shanghai Composite failed to stabilise above tentative support at the 2600 point level, having started the week nearer 2700 points. The bearish bias remains as momentum continues to suggest another downturn here in the wake of the Chinese/American trade negotiations:
Japanese stocks are wilting here going into the end of the year, finding no support a much stronger Yen and a BOJ not able to fill the stops. The weekly chart of the Nikkei 225 shows a return to the previous lows nearer 21000 points with prices stuck to the low moving weekly average. The next level to watch is obviously the extreme lows at the 20780 area as confidence disappears:
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