30 Jan 2015
Nikkei rebounds on US optimism, Advantest soars 8%
FXStreet (Mumbai) - The Japanese equities index opened with a sharp positive gap of 182 points and remained elevated following strong close on Wall Street overnight on the back of positive corporate results and better than expected US jobs data.
The benchmark Nikkei 225 index rose 0.81% at 17749 levels, pulling away from fresh daily highs previously reached at 17808 levels. The index gained as traders cheered renewed optimism from the US and also on upbeat Japanese labour data. However, the upside remained capped due to a stronger yen.
The index breadth traded positive with an advance-decline ratio of 160:56. Advantest is the top gainer, up 8.10%, followed by Sumco Corp which is higher by 7.80% and Chubu Electric Power advancing 5.68%. Among the top losers, Keisei Electric Railway led the index lower, falling -7.07%. NEC Corp trades lower by -6.09%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17914 above which gains could be extended to 18030 levels. Meanwhile, support is seen at 17600 levels and from here to 17439 levels.
The benchmark Nikkei 225 index rose 0.81% at 17749 levels, pulling away from fresh daily highs previously reached at 17808 levels. The index gained as traders cheered renewed optimism from the US and also on upbeat Japanese labour data. However, the upside remained capped due to a stronger yen.
The index breadth traded positive with an advance-decline ratio of 160:56. Advantest is the top gainer, up 8.10%, followed by Sumco Corp which is higher by 7.80% and Chubu Electric Power advancing 5.68%. Among the top losers, Keisei Electric Railway led the index lower, falling -7.07%. NEC Corp trades lower by -6.09%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17914 above which gains could be extended to 18030 levels. Meanwhile, support is seen at 17600 levels and from here to 17439 levels.