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10 Apr 2015
Hang Seng outperforms yet again, Nikkei breaks above 20k
FXStreet (Mumbai) - Hong Kong and Japanese equities extended their multi-year peak rally with Hang Seng emerging the front-runner for the third day running among other Asian counterparts as traders continued to cheer the Hong Kong-Shanghai stock connect news.
Hong Kong’s benchmark Hang Seng trades 0.63% higher at 27125 levels, retreating from daily highs reached at 27346 levels in early trades.
Meanwhile, the Japanese markets surged to highest levels since April 2000 in early trades, tracking the positive cues overnight from Wall Street and as data showed that China's inflation came out slightly stronger than expected in March. Moreover, a relatively weaker yen also pushed the exports stocks higher, boosting the index further.
The Japanese benchmark, the Nikkei 225 trades 0.16% higher at 19968, having bounced-off a new 15-year high at 20006, just ahead of 20k marker.
Nikkei Technical Levels
The index has an immediate resistance stands at 20k. Meanwhile, support is seen at 19900 levels and from here to 19750 levels.
Hong Kong’s benchmark Hang Seng trades 0.63% higher at 27125 levels, retreating from daily highs reached at 27346 levels in early trades.
Meanwhile, the Japanese markets surged to highest levels since April 2000 in early trades, tracking the positive cues overnight from Wall Street and as data showed that China's inflation came out slightly stronger than expected in March. Moreover, a relatively weaker yen also pushed the exports stocks higher, boosting the index further.
The Japanese benchmark, the Nikkei 225 trades 0.16% higher at 19968, having bounced-off a new 15-year high at 20006, just ahead of 20k marker.
Nikkei Technical Levels
The index has an immediate resistance stands at 20k. Meanwhile, support is seen at 19900 levels and from here to 19750 levels.