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9 Feb 2015
Nikkei trades mixed, Chinese data weigh
FXStreet (Mumbai) - The Japanese equities index opened with a positive gap of 140 points tracking the cues from Wall Street on Friday as better-than-expected U.S. jobs data sparked concerns that the Federal Reserve may raise interest rates sooner than anticipated. However, the gains were quickly capped by weak Chinese trade data which dragged the index lower.
The benchmark Nikkei 225 index gained 0.27% and trades at 17696 levels, retreating from day’s high posted at 17799.50 levels. The index trimmed earlier gains on soft Chinese trade figures after the country’s imports plummeted more than 19% compared to a year ago, declining the most in more than five years, weighed on investors’ sentiments. Moreover, a stronger yen also restricted the upside in the stocks amid a better than expected Japanese trade balance.
The index trades with a positive market breadth, the advance-decline ratio being 139:77. Asahi Glass Co is the top gainer, up 8.63%, NTN Corp was up close to 6.24%. Among the top losers, COMSYS Holdings declined by -7.28%, while Nippon Electric tumbled -6.81%, followed by Tokyo Seikan which lost -6.08%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17800 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17450 levels and from here to 17330 levels.
The benchmark Nikkei 225 index gained 0.27% and trades at 17696 levels, retreating from day’s high posted at 17799.50 levels. The index trimmed earlier gains on soft Chinese trade figures after the country’s imports plummeted more than 19% compared to a year ago, declining the most in more than five years, weighed on investors’ sentiments. Moreover, a stronger yen also restricted the upside in the stocks amid a better than expected Japanese trade balance.
The index trades with a positive market breadth, the advance-decline ratio being 139:77. Asahi Glass Co is the top gainer, up 8.63%, NTN Corp was up close to 6.24%. Among the top losers, COMSYS Holdings declined by -7.28%, while Nippon Electric tumbled -6.81%, followed by Tokyo Seikan which lost -6.08%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17800 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17450 levels and from here to 17330 levels.