18 May 2015
Nikkei eyes 20k, weaker yen underpins
FXStreet (Mumbai) - The Japanese equities index kicked-off the week on a stronger note and extends gains after Wall Street closed with gains in the previous session. While markets remain cautious ahead of this week’s Fed minutes and a deluge of economic releases on both sides of the Atlantic.
The benchmark Nikkei 225 index trades 0.76% higher at fresh session highs at 19887.35. The Japanese stocks remains elevated also supported by upbeat Japanese core machinery orders numbers while a relatively weaker yen across the board also boosted the exports stocks.
The index trades with a positive market breadth, the advance-decline ratio being 164:53. Dai-ichi Life Insurance trades 10.21% higher, While Sumitomo Electric is the next big gainer, up 7.20%. Among the top losers, Sharp Corp is down -11.83% while Dentsu Inc is down nearly 4% on profit-taking.
Nikkei Technical Levels
The index has an immediate resistance stands at 20000. Meanwhile, support is seen at 19750 levels and from here to 19600 levels.
The benchmark Nikkei 225 index trades 0.76% higher at fresh session highs at 19887.35. The Japanese stocks remains elevated also supported by upbeat Japanese core machinery orders numbers while a relatively weaker yen across the board also boosted the exports stocks.
The index trades with a positive market breadth, the advance-decline ratio being 164:53. Dai-ichi Life Insurance trades 10.21% higher, While Sumitomo Electric is the next big gainer, up 7.20%. Among the top losers, Sharp Corp is down -11.83% while Dentsu Inc is down nearly 4% on profit-taking.
Nikkei Technical Levels
The index has an immediate resistance stands at 20000. Meanwhile, support is seen at 19750 levels and from here to 19600 levels.