Asia Stocks Trade Mixed after a Series of Gains, Analyst Warns of Profit-Taking Session

Asia stocks had mixed sessions on Wednesday, May 27, 2020, after a series of gains in the previous session.

 

As of 9:12 local time in Thailand (GMT+7), Nikkei rose 0.27%, SSEC dipped 0.17%, HSI shedded 0.39%, ASX 200 gained 0.07% and Kospi advanced 0.22%.

 

Yesterday, global stock markets responded to the positive sentiment over the potential coronavirus vaccine, produced by Novavax. However, the uncertainties on the escalated tension between the U.S. and China still lingered, while pro-democracy protesters in Hong Kong still went on with their protest.

The analyst expected a profit taking in tomorrow’s session after a successive climb, giving a support level at 1,320 points and a resistance level at 1,350 points. Meanwhile, the analyst suggested investors to keep monitoring the lockdown easing, the development of U.S. and China tension as well as China and Hong Kong.