18 Dec 2014
Nikkei climbs over 2%
FXStreet (Mumbai) - The Japanese equities index opened gap up and edged higher tracking solid overnight gains on Wall Street and on a weaker yen, wiping out losses from previous session.
The benchmark Nikkei 225 index trades up 2.16% or 369 points at 17188.50, compared to previous session’s close of 16819.73. The index remains supported on weaker Japanese currency after Fed statement gave indications that the Fed was considering a rate hike as early as the first half of next year which boosted the US dollar against other currencies. The index breadth is positive with an advance decline ratio of 212:12.
Nippon Suisan Kaisha, Marui Group, Mitsubishi Logistics, NSK Ltd, Toyo Seikan Group Holdings, Keisei Electric Railway, Isuzu Motors gained 5 to 7%. Among the losers, Kansai Electric Power lost -6.45%, Shiseido Co declined over 3%. Maruha Nichiro Corp, Sharp Corp and Tokyo Tatemono were modestly lower.
Nikkei Technical Levels
The index has an immediate resistance stands at 17445.89 (100-day SMA) above which gains could be extended to 17536.50 (Dec 12 High) levels. Meanwhile, support is seen at 17035.62 (10-day SMA) and from here to 16755.32 (Dec 17 Close) levels.
The benchmark Nikkei 225 index trades up 2.16% or 369 points at 17188.50, compared to previous session’s close of 16819.73. The index remains supported on weaker Japanese currency after Fed statement gave indications that the Fed was considering a rate hike as early as the first half of next year which boosted the US dollar against other currencies. The index breadth is positive with an advance decline ratio of 212:12.
Nippon Suisan Kaisha, Marui Group, Mitsubishi Logistics, NSK Ltd, Toyo Seikan Group Holdings, Keisei Electric Railway, Isuzu Motors gained 5 to 7%. Among the losers, Kansai Electric Power lost -6.45%, Shiseido Co declined over 3%. Maruha Nichiro Corp, Sharp Corp and Tokyo Tatemono were modestly lower.
Nikkei Technical Levels
The index has an immediate resistance stands at 17445.89 (100-day SMA) above which gains could be extended to 17536.50 (Dec 12 High) levels. Meanwhile, support is seen at 17035.62 (10-day SMA) and from here to 16755.32 (Dec 17 Close) levels.