19 Jan 2015
Nikkei pushed up by gains in US stocks
FXStreet (Mumbai) - The Japanese stocks ended moderately higher today, tracking the rebound in the Us stocks witnessed on Friday, although caution prevailed ahead of the European Central Bank (ECB) rate decision due later this week.
The Nikkei index closed 150.13 points or 0.89% higher at 17,014 levels, compared to the previous session’s close at 16,864.16 levels. The markets started off on a positive note tracking the gains in the US equity markets on Friday. However, initial buying exhausted as the markets went into a wait-and-watch mode ahead of the ECB meet.
Among stocks, HIS gained 4.1% after a foreign brokerage firm upgraded its rating on the stock. Oil developer Inpex and trading houses Sumitomo and Itochu also gained strength on higher crude prices. Meanwhile, electronics giant Sharp plunged 8.73% on reports that the company is expected to incur a group net loss in the year to March 2015, falling short of its own projection of a profit. Other major losers included automaker Toyota, Japan Tobacco, and megabank groups Sumitomo Mitsui and Mitsubishi UFJ.
Nikkei Technical Levels
The immediate resistance is seen at 17,141 levels, above which gains could be extended to 17,243 levels. Meanwhile, support is seen at 16,911 and 16,864 levels.
The Nikkei index closed 150.13 points or 0.89% higher at 17,014 levels, compared to the previous session’s close at 16,864.16 levels. The markets started off on a positive note tracking the gains in the US equity markets on Friday. However, initial buying exhausted as the markets went into a wait-and-watch mode ahead of the ECB meet.
Among stocks, HIS gained 4.1% after a foreign brokerage firm upgraded its rating on the stock. Oil developer Inpex and trading houses Sumitomo and Itochu also gained strength on higher crude prices. Meanwhile, electronics giant Sharp plunged 8.73% on reports that the company is expected to incur a group net loss in the year to March 2015, falling short of its own projection of a profit. Other major losers included automaker Toyota, Japan Tobacco, and megabank groups Sumitomo Mitsui and Mitsubishi UFJ.
Nikkei Technical Levels
The immediate resistance is seen at 17,141 levels, above which gains could be extended to 17,243 levels. Meanwhile, support is seen at 16,911 and 16,864 levels.