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20 May 2015
Nikkei hits fresh 15-yr highs on weaker yen
FXStreet (Mumbai) - The Japanese equities index opened with a sharp positive gap of nearly 150 points and thereafter rallied to fresh 15 year peak, led by gains in Japan as the yen weakened against the dollar before the minutes from the Fed's late-April meeting were due for release.
The benchmark Nikkei 225 index trades 1.22% higher at fresh multi-year highs of 20270. The Japanese stocks extend its upward trajectory largely tracking weaker yen which pushed exports-oriented stocks higher. While upbeat Japanese GDP numbers also lifted investors’ sentiments.
The index trades with a postive market breadth, the advance-decline ratio being 164:49. Shiseido Co trades 6.17% higher. Sumco Corp is the next big gainer, up 5.34%. Among the top losers, Toho Zinc is down –3.82%. While JX Holdings slides –3.05%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20350. Meanwhile, support is seen at 20150 levels and from here to 20k levels.
The benchmark Nikkei 225 index trades 1.22% higher at fresh multi-year highs of 20270. The Japanese stocks extend its upward trajectory largely tracking weaker yen which pushed exports-oriented stocks higher. While upbeat Japanese GDP numbers also lifted investors’ sentiments.
The index trades with a postive market breadth, the advance-decline ratio being 164:49. Shiseido Co trades 6.17% higher. Sumco Corp is the next big gainer, up 5.34%. Among the top losers, Toho Zinc is down –3.82%. While JX Holdings slides –3.05%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20350. Meanwhile, support is seen at 20150 levels and from here to 20k levels.