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23 Apr 2015
Nikkei caps gains on poor China PMI
FXStreet (Mumbai) - The Japanese equities index extended gains this week and jumped to fresh fifteen year peak tracking the overnight gains on Wall Street and amid hopes for improved corporate earnings performance in Japan.
The benchmark Nikkei 225 index trades mildly higher by 0.34% at 20202, retreating from new multi-year highs at 20252.12 levels. The index rallied after weaker domestic currency helps exports stocks higher. However, gains were capped by lack lustre Chinese PMI readings.
The index trades with a positive market breadth, the advance-decline ratio being 146:70. Inpex Corp reversed previous losses and edged 2.69% higher, followed by Kajima Corp up nearly 2.15%. Among the top losers, Yahoo Japan Corp is down -3.50%. While Eisai Co Ltd is down –1.70%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20252.12. Meanwhile, support is seen at 20k levels and from here to 19880 levels.
The benchmark Nikkei 225 index trades mildly higher by 0.34% at 20202, retreating from new multi-year highs at 20252.12 levels. The index rallied after weaker domestic currency helps exports stocks higher. However, gains were capped by lack lustre Chinese PMI readings.
The index trades with a positive market breadth, the advance-decline ratio being 146:70. Inpex Corp reversed previous losses and edged 2.69% higher, followed by Kajima Corp up nearly 2.15%. Among the top losers, Yahoo Japan Corp is down -3.50%. While Eisai Co Ltd is down –1.70%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20252.12. Meanwhile, support is seen at 20k levels and from here to 19880 levels.