20 Jan 2015
Nikkei ended at day’s high, gained 2%
FXStreet (Mumbai) - The Japanese equities index opened with sharp gains and remained higher throughout the session after data showed that Chinese gross domestic product for the fourth quarter beat expectations.
The benchmark Nikkei 225 index closed at day’s high of 17366.30, above 2% higher, compared to previous session’s close of 17014.29. The index rose on growing speculation that the European Central Bank (ECB) will launch a government bond-buying program at its next policy meeting on Thursday lifted investor sentiment. Moreover, a weakening yen also contributed to the gains in the index.
The index breadth traded positive with an advance-decline ratio of 208:19. Among the major gainers, Kobe Steel led the index up by 6.28% followed by Mitsui Mining & Smelting Co which gained 4.86% and Mazda Motor Corp moved up 4.27%. Mitsumi Electric was the top loser, down -3.05%. Trading house Itochu lost more than 2.5% after the Nikkei business daily reported that Itochu and Thailand-based Charoen Pokphand Group plan to invest 1 trillion yen in Chinese conglomerate Citic Group.
Nikkei Technical Levels
The index has an immediate resistance stands at 17540 above which gains could be extended to 17700 levels. Meanwhile, support is seen at 17100 levels and from here to 16883 levels.
The benchmark Nikkei 225 index closed at day’s high of 17366.30, above 2% higher, compared to previous session’s close of 17014.29. The index rose on growing speculation that the European Central Bank (ECB) will launch a government bond-buying program at its next policy meeting on Thursday lifted investor sentiment. Moreover, a weakening yen also contributed to the gains in the index.
The index breadth traded positive with an advance-decline ratio of 208:19. Among the major gainers, Kobe Steel led the index up by 6.28% followed by Mitsui Mining & Smelting Co which gained 4.86% and Mazda Motor Corp moved up 4.27%. Mitsumi Electric was the top loser, down -3.05%. Trading house Itochu lost more than 2.5% after the Nikkei business daily reported that Itochu and Thailand-based Charoen Pokphand Group plan to invest 1 trillion yen in Chinese conglomerate Citic Group.
Nikkei Technical Levels
The index has an immediate resistance stands at 17540 above which gains could be extended to 17700 levels. Meanwhile, support is seen at 17100 levels and from here to 16883 levels.