25 Feb 2015
Nikkei flattish near 15-year highs
FXStreet (Mumbai) - The Japanese equities index opened at fresh fifteen year highs following the positive lead overnight from Wall Street and upbeat China's manufacturing data. However, quickly gave up gains as markets continue digesting Federal Reserve (Fed) Chair Janet Yellen's testimony to Congress last night.
The benchmark Nikkei 225 index trades almost flat at 18580.66 levels, retreating from multi-year highs previously posted at 18648.77 levels. The index edged lower largely on a stronger yen versus the US dollar after Yellen’s comments failed to spark a rally in the reserve currency.
The index trades with a negative market breadth, the advance-decline ratio being 103:114. Nippon Paper Industries is the top gainer rallying 4.74%, Hino Motors is up 4.09%. Among the top losers, Hitachi Constructions is declining -2.65%, followed by Pioneer Corp which is down –2.45%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18648.77. Meanwhile, support is seen at 18500 levels and from here to 18332 levels.
The benchmark Nikkei 225 index trades almost flat at 18580.66 levels, retreating from multi-year highs previously posted at 18648.77 levels. The index edged lower largely on a stronger yen versus the US dollar after Yellen’s comments failed to spark a rally in the reserve currency.
The index trades with a negative market breadth, the advance-decline ratio being 103:114. Nippon Paper Industries is the top gainer rallying 4.74%, Hino Motors is up 4.09%. Among the top losers, Hitachi Constructions is declining -2.65%, followed by Pioneer Corp which is down –2.45%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18648.77. Meanwhile, support is seen at 18500 levels and from here to 18332 levels.