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9 Jan 2015
Nikkei trades flat on stronger yen
FXStreet (Mumbai) - The Japanese equities index erased previous gains after opening with a positive gap of 150 points tracking solid gains from Wall Street overnight which reflected renewed optimism amid recovering oil prices.
The benchmark Nikkei 225 index trades flat at 17151, compared to previous session’s close of 17167.32. The index shaved off morning gains largely on the back of renewed strength seen in yen as it recover solid losses versus the greenback.
The index breadth is negative with an advance-decline ratio of 84:129. Among the major gainers, NTT DOCOMO Inc leads the index gaining 5.32% followed by Chugai Pharmaceuticals Ltd which is up 3.49% and Kawasaki Heavy Industries gaining 2.75%.
Daiichi Sankyo Co is the top loser on the index, losing -5.44% followed by Mazda Motor Corp, Pioneer Corp and SCREEN Holdings, losing -3.86% to -4.22%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17540 above which gains could be extended to 17700 levels. Meanwhile, support is seen at 17k levels and from here to 16819.73 (Dec 17 Close) levels.
The benchmark Nikkei 225 index trades flat at 17151, compared to previous session’s close of 17167.32. The index shaved off morning gains largely on the back of renewed strength seen in yen as it recover solid losses versus the greenback.
The index breadth is negative with an advance-decline ratio of 84:129. Among the major gainers, NTT DOCOMO Inc leads the index gaining 5.32% followed by Chugai Pharmaceuticals Ltd which is up 3.49% and Kawasaki Heavy Industries gaining 2.75%.
Daiichi Sankyo Co is the top loser on the index, losing -5.44% followed by Mazda Motor Corp, Pioneer Corp and SCREEN Holdings, losing -3.86% to -4.22%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17540 above which gains could be extended to 17700 levels. Meanwhile, support is seen at 17k levels and from here to 16819.73 (Dec 17 Close) levels.