Nikkei, Kospi to US stocks: Global equity heatmap you must know before the opening bell of

Search EN Get started Nikkei, Kospi to US stocks: Global equity heatmap you must know before the opening bell of the Indian stock market today3 min readNI225KOSPISPXGlobal markets today, Aug. Overnight cues from Wall Street were subdued, while Asian markets are trading mixed in.

The Japanese Nikkei 225 index edged higher, while the South Korean KOSPI stocks were trading higher by a sizeable margin. On triggers weighing on global market sentiment, Ponmudi R, CEO at Enrich Money, said, "On the geopolitical front, reports that regional mediators have travelled.

What Happened

However, Ponmudi said that reports of fresh attacks on shipping in and around the Strait of Hormuz and the Red Sea, coupled with the absence of a clear roadmap toward a final agreement, continue to keep market participants in a wait-and-watch mode..

• WTI crude oil remains elevated in the $83-$84 per barrel range, keeping concerns over inflation, India's import bill, corporate margins, and rupee stability firmly in focus.

• The S&P 500 declined 0.32%, the Nasdaq Composite fell 0.60%, and the Dow Jones Industrial Average lost 0.34%.

• South Korea's Kospi advanced nearly 4%%, extending its recent outperformance, while Japan's Nikkei 225 traded broadly flat after Monday's strong rally and Tuesday's market holiday.

Key Details

The US equities edged lower on Tuesday, extending their modest retreat from record highs as investors turned cautious ahead of the closely watched US inflation report and monitored escalating tensions between Washington and Tehran. Pointing towards the geopolitical tension weighing on the.

• Hong Kong's Hang Seng index is down by nearly 1%.

• China's Shanghai index is trading flat, with marginal gains, while Indonesia's IDX Composite index is uparound 1%.

• Reflecting the mixed global backdrop, GIFT Nifty futures are trading just above the 24,550 mark, compared with the Nifty's previous close of 24,471, indicating a flat-to-mildly positive start for domestic equities.

Why It Matters

Asian markets are trading mixed on Wednesday as investors remain cautious ahead of the US inflation report and continue to monitor developments surrounding the Strait of Hormuz. European equities closed mixed on Tuesday, with performance diverging across the region even as major.

• Below this, the market could retest the 20-day SMA (Simple Moving Average) or the 24,250-24,300/77500-77700 levels.

• On the flip side, above 24,550/78500, the sentiment could change.

What Reports Say

Coverage of the story so far points to:

• In the near term, Bank Nifty is expected to trade within the 57,000-57,800/58,000 zone with a bearish undertone.

• Immediate support is at 57,000, while resistance is at 57,800.

• Continued reporting by TradingView as more details emerge