9 Jun 2015
Nikkei dips to fresh 3-week lows
FXStreet (Mumbai) - The Japanese equities index opened with a sharp negative gap of 165 points tracking the losses on Wall Street and European markets overnight. While a stronger yen coupled with easing Chinese price pressures also added to the declines in the stocks.
Currently, the benchmark Nikkei 225 index trades -0.80% lower at 20,292.92, retreating from fresh three week lows reached at 20277.43. The index dropped for the second straight session weighed by negative global cues and stronger yen which dented exporters’ stocks.
The Nikkei 225 index trades with a negative market breadth with the advance decline ratio of 31:192. Shiseido Co is the top gainer, up nearly 2%, followed by West Japan Railway up 1.80%. The top loser so far is Daiichi Life Insurance, down -3.90%, followed by Showa Denko which loses -3.41%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20360. Meanwhile, support is seen at 20200 levels and from here to 20k levels.
Currently, the benchmark Nikkei 225 index trades -0.80% lower at 20,292.92, retreating from fresh three week lows reached at 20277.43. The index dropped for the second straight session weighed by negative global cues and stronger yen which dented exporters’ stocks.
The Nikkei 225 index trades with a negative market breadth with the advance decline ratio of 31:192. Shiseido Co is the top gainer, up nearly 2%, followed by West Japan Railway up 1.80%. The top loser so far is Daiichi Life Insurance, down -3.90%, followed by Showa Denko which loses -3.41%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20360. Meanwhile, support is seen at 20200 levels and from here to 20k levels.