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7 Jan 2015
Nikkei rebounds, trades below 17k mark
FXStreet (Mumbai) - The Japanese equities index recovered mildly after opening with a negative gap of 77 points tracking overnight losses from Wall Street and the continued decline in the price of oil.
The benchmark Nikkei 225 index trades moderately higher by 0.28% or 43 points at 16931.16, compared to previous session’s close of 16883.91. The index edged recovered today after tumbling more than 3% to post its biggest daily drop in nearly ten months yesterday.
The index breadth is positive with an advance-decline ratio of 181:82. Among the major gainers, Sumco Corp leads the index gaining 6.23% followed by NH Foods Ltd which is up 6.07%. Shares of Sony Corp are also gaining 6.01% on reports that the company's sales for 2014 might have topped 20 million units, exceeding the 19 million units sold in 2013.
Tokyo Electron Ltd is the top loser on the index, losing -3.16% followed by Sumitomo Mitsui, Konami Corp and TOTO Ltd, and are losing -2.5% to -2.95%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17K above which gains could be extended to 17274.23 (Dec 18 High) levels. Meanwhile, support is seen at 16819.73 (Dec 17 Close) and from here to 16600 levels.
The benchmark Nikkei 225 index trades moderately higher by 0.28% or 43 points at 16931.16, compared to previous session’s close of 16883.91. The index edged recovered today after tumbling more than 3% to post its biggest daily drop in nearly ten months yesterday.
The index breadth is positive with an advance-decline ratio of 181:82. Among the major gainers, Sumco Corp leads the index gaining 6.23% followed by NH Foods Ltd which is up 6.07%. Shares of Sony Corp are also gaining 6.01% on reports that the company's sales for 2014 might have topped 20 million units, exceeding the 19 million units sold in 2013.
Tokyo Electron Ltd is the top loser on the index, losing -3.16% followed by Sumitomo Mitsui, Konami Corp and TOTO Ltd, and are losing -2.5% to -2.95%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17K above which gains could be extended to 17274.23 (Dec 18 High) levels. Meanwhile, support is seen at 16819.73 (Dec 17 Close) and from here to 16600 levels.