19 Jan 2015
Nikkei climbs higher amid renewed optimism
FXStreet (Mumbai) - The Japanese equities index opened with a positive gap of 136 points and remained higher following a strong rebound on Wall Street last Friday and on stabilizing oil prices.
The benchmark Nikkei 225 index traded at 17031.83, nearly 1% higher, compared to previous session’s close of 16864.16. The index gained as much of the buying was seen on China sell-off. The index also remained supported on upbeat Japanese consumer confidence numbers.
The index breadth traded positive with an advance-decline ratio of 166:53. Among the major gainers, GS Yuasa Corp led the index up by 6.42% followed by Tosoh Corp which gained 4.30% and Mitsui OSK Lines Ltd moved up 3.54%. Sharp Corp/Japan is the top loser, down -8.73%. Pioneer Corp and Toho Co Ltd/Tokyo lost over 2.50%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17141 above which gains could be extended to 17342 levels. Meanwhile, support is seen at 16850 levels and from here to 16600 levels.
The benchmark Nikkei 225 index traded at 17031.83, nearly 1% higher, compared to previous session’s close of 16864.16. The index gained as much of the buying was seen on China sell-off. The index also remained supported on upbeat Japanese consumer confidence numbers.
The index breadth traded positive with an advance-decline ratio of 166:53. Among the major gainers, GS Yuasa Corp led the index up by 6.42% followed by Tosoh Corp which gained 4.30% and Mitsui OSK Lines Ltd moved up 3.54%. Sharp Corp/Japan is the top loser, down -8.73%. Pioneer Corp and Toho Co Ltd/Tokyo lost over 2.50%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17141 above which gains could be extended to 17342 levels. Meanwhile, support is seen at 16850 levels and from here to 16600 levels.