28 Oct 2014
Nikkei ends lower
FXStreet (Mumbai) - Japanese stock markets ended lower today on weak corporate earnings and a weak global data that negated the upbeat domestic retail sales figure.
Nikkei ended 0.38% lower at 15329.91 levels, after Canon Inc tumbled on weak earnings report. The stock fell 2.46% today after its quarterly operating profit declined due to a fall in demand for digital cameras. Meanwhile, Takeda Pharmaceutical Co gained 1.09% after a punitive damages award was slashed by USD 9 billion by the US judge.
Moreover, the weakness in the German and the US data soured the sentiment. However, the index sought some support from the upbeat domestic retail sales number. The 2.3% annual rise in September blew past a 0.6% increase expected by economists.
Nikkei Technical levels
The index has an immediate resistance of 15,356 (Aug. 29 low), above which prices can re-test the yesterday’s high of 15,424 levels. On the flip side, index may fall to 15,000 levels if the immediate support at 15,259 on the hourly chart is breached.
Nikkei ended 0.38% lower at 15329.91 levels, after Canon Inc tumbled on weak earnings report. The stock fell 2.46% today after its quarterly operating profit declined due to a fall in demand for digital cameras. Meanwhile, Takeda Pharmaceutical Co gained 1.09% after a punitive damages award was slashed by USD 9 billion by the US judge.
Moreover, the weakness in the German and the US data soured the sentiment. However, the index sought some support from the upbeat domestic retail sales number. The 2.3% annual rise in September blew past a 0.6% increase expected by economists.
Nikkei Technical levels
The index has an immediate resistance of 15,356 (Aug. 29 low), above which prices can re-test the yesterday’s high of 15,424 levels. On the flip side, index may fall to 15,000 levels if the immediate support at 15,259 on the hourly chart is breached.