Back
24 Dec 2014
Nikkei rebounds, below 18k mark
FXStreet (Mumbai) - The Japanese equities index re-opened with a positive gap of 213 points after a holiday yesterday and trades firm, tracking strong overnight gains from Wall Street on upbeat US growth numbers.
The benchmark Nikkei 225 index trades higher by 1.18% or 208 point at 17843.50, compared to previous session’s close of 17634.15. The index remains supported on the back of positive lead from Wall Street on upbeat U.S. third-quarter GDP data. However, buying interest is somewhat subdued in most of the markets in the region ahead of Christmas holidays.
The index breadth is positive with an advance decline ratio of 159:53. Among the major gainers, Tokyo Dome gained over 8.5% following a rating upgrade by Mitsubishi UFJ Morgan Stanley Securities Co. While, shares of Maruha Niciro Corp. moved up 3.68% after the company raised its full-year net income forecast. Among the top losers, Hitachi Zosen declined over -3.48% and Showa Shell Sekiyu KK was down -2.6 %.
Nikkei Technical Levels
The index has an immediate resistance stands at 17895.50 (Dec 9 High) above which gains could be extended to 18030.50 (Dec 8 High) levels. Meanwhile, support is seen at 17696.36 (Dec 3 Low) and from here to 17500 levels.
The benchmark Nikkei 225 index trades higher by 1.18% or 208 point at 17843.50, compared to previous session’s close of 17634.15. The index remains supported on the back of positive lead from Wall Street on upbeat U.S. third-quarter GDP data. However, buying interest is somewhat subdued in most of the markets in the region ahead of Christmas holidays.
The index breadth is positive with an advance decline ratio of 159:53. Among the major gainers, Tokyo Dome gained over 8.5% following a rating upgrade by Mitsubishi UFJ Morgan Stanley Securities Co. While, shares of Maruha Niciro Corp. moved up 3.68% after the company raised its full-year net income forecast. Among the top losers, Hitachi Zosen declined over -3.48% and Showa Shell Sekiyu KK was down -2.6 %.
Nikkei Technical Levels
The index has an immediate resistance stands at 17895.50 (Dec 9 High) above which gains could be extended to 18030.50 (Dec 8 High) levels. Meanwhile, support is seen at 17696.36 (Dec 3 Low) and from here to 17500 levels.