18 Feb 2015
Nikkei rallies 1% amid thin trading before Chinese New Year
FXStreet (Mumbai) - The Japanese equities index rebounded today to multi-year highs with sharp opening gains of 116 points and held on to gains tracking the positive cues overnight from Wall Street and amid optimism that Greece will eventually reach an agreement with its euro zone creditors.
The benchmark Nikkei 225 index trades higher by 1% at 18161.07 levels, hovering close to multi-year highs posted at 18175.90 levels earlier in the session. The index remained elevated despite a stronger yen after BOJ kept its monetary policy steady. However, trading volumes are light as some of the markets are closed for the Lunar New Year holiday.
The index trades with a positive market breadth, the advance-decline ratio being 165:48. Minebea Co is the top gainer rallying 5.14%, Hitachi is up 4.76%. Among the top losers, Konami Corp is declining -2.11%, Showa Shell Sekiyu is down –1.55%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18175. Meanwhile, support is seen at 18k levels and from here to 17920 levels.
The benchmark Nikkei 225 index trades higher by 1% at 18161.07 levels, hovering close to multi-year highs posted at 18175.90 levels earlier in the session. The index remained elevated despite a stronger yen after BOJ kept its monetary policy steady. However, trading volumes are light as some of the markets are closed for the Lunar New Year holiday.
The index trades with a positive market breadth, the advance-decline ratio being 165:48. Minebea Co is the top gainer rallying 5.14%, Hitachi is up 4.76%. Among the top losers, Konami Corp is declining -2.11%, Showa Shell Sekiyu is down –1.55%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18175. Meanwhile, support is seen at 18k levels and from here to 17920 levels.