10 Jun 2015
Nikkei rises on Japan data, China stocks fall sharply
FXStreet (Mumbai) - The Japanese equities index halted its downslide and edged higher today, shrugging off mixed cues from Wall Street overnight as mild yen weakness and upbeat Japanese macro releases added to the positive sentiment.
Japanese core machinery orders - which exclude ships and utility items - rose 3.8% m/m in April, according to reports from the Cabinet Office on Wednesday. Markets had anticipated a 2% decline in orders.
On the contrary, Chinese stocks dropped sharply after Chinese A-shares were not added to the MSCI Emerging Markets Index as many analysts anticipated, with the US-based index provider MSCI saying after an annual review that the stocks would be added only after liquidity and accessibility issues were resolved.
Currently, the benchmark Nikkei 225 index trades 0.40% higher at 20,171.79, bouncing-off fresh three week lows reached at 20053.74. While the Shanghai Composite fell nearly 1% to trade at 5067.10, recovering from 5001.49 lows.
Nikkei Technical Levels
The index has an immediate resistance stands at 20360. Meanwhile, support is seen at 20k levels and from here to 19890 levels.
Japanese core machinery orders - which exclude ships and utility items - rose 3.8% m/m in April, according to reports from the Cabinet Office on Wednesday. Markets had anticipated a 2% decline in orders.
On the contrary, Chinese stocks dropped sharply after Chinese A-shares were not added to the MSCI Emerging Markets Index as many analysts anticipated, with the US-based index provider MSCI saying after an annual review that the stocks would be added only after liquidity and accessibility issues were resolved.
Currently, the benchmark Nikkei 225 index trades 0.40% higher at 20,171.79, bouncing-off fresh three week lows reached at 20053.74. While the Shanghai Composite fell nearly 1% to trade at 5067.10, recovering from 5001.49 lows.
Nikkei Technical Levels
The index has an immediate resistance stands at 20360. Meanwhile, support is seen at 20k levels and from here to 19890 levels.