17 Feb 2015
Nikkei muted ahead of Chinese New Year
FXStreet (Mumbai) - The Japanese equities index opened slightly lower and steadied below 18k mark after Greece's rejection of the initial offer in its bailout negotiations with European officials weighed on market sentiments.
The benchmark Nikkei 225 index trades little changed at 17994 levels, pulling away from day’s highs posted at 18003.69 levels earlier in the session. The index remained subdued amid Greece’s failed talks, a relatively stronger yen and weak close on European indices. Moreover, volumes remained low as the upcoming Chinese new year holiday kept trading minimal.
The index trades with a positive market breadth, the advance-decline ratio being 121:92. Mazda Motor Corp is the top gainer rallying 5.14%, Marui Group Co is up 3.67%. Among the top losers, Isuzu motors is declining -3.73%, Maruha Nichiro is down –2.80%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18074 above which gains could be extended to 18150 levels. Meanwhile, support is seen at 17900 levels and from here to 17780 levels.
The benchmark Nikkei 225 index trades little changed at 17994 levels, pulling away from day’s highs posted at 18003.69 levels earlier in the session. The index remained subdued amid Greece’s failed talks, a relatively stronger yen and weak close on European indices. Moreover, volumes remained low as the upcoming Chinese new year holiday kept trading minimal.
The index trades with a positive market breadth, the advance-decline ratio being 121:92. Mazda Motor Corp is the top gainer rallying 5.14%, Marui Group Co is up 3.67%. Among the top losers, Isuzu motors is declining -3.73%, Maruha Nichiro is down –2.80%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18074 above which gains could be extended to 18150 levels. Meanwhile, support is seen at 17900 levels and from here to 17780 levels.