22 Dec 2014
Nikkei finished at two-week high
FXStreet (Mumbai) - The Japanese equity markets finished higher today supported by rebounding in crude prices, which helped oil related shares gain strength.
The Nikkei index gained 0.1% to end the day at 17,635.14 levels, its highest closing since Dec. 19. The Oil and Coal product index advanced 8.4%, since Crude was trading in the green during the Asian session. Among stocks, Oil refiner Showa Shell Sekiyu gained 27.7%, on reports that the company was in talks to be acquired by bigger rival Idemitsu Kosan Co Ltd for JPY 500 billion.
On the other hand, automaker Toyota retreated on apparent profit-taking. Megabank group Mitsubishi UFJ, Japan Tobacco, industrial robot-maker Fanuc and clothing retailer Fast Retailing were also lower.
Nikkei Technical Levels
The index has an immediate support located at 17,621, under which prices could test 17,520 levels. Meanwhile, resistance is seen at 17,693 and 17,895 levels.
The Nikkei index gained 0.1% to end the day at 17,635.14 levels, its highest closing since Dec. 19. The Oil and Coal product index advanced 8.4%, since Crude was trading in the green during the Asian session. Among stocks, Oil refiner Showa Shell Sekiyu gained 27.7%, on reports that the company was in talks to be acquired by bigger rival Idemitsu Kosan Co Ltd for JPY 500 billion.
On the other hand, automaker Toyota retreated on apparent profit-taking. Megabank group Mitsubishi UFJ, Japan Tobacco, industrial robot-maker Fanuc and clothing retailer Fast Retailing were also lower.
Nikkei Technical Levels
The index has an immediate support located at 17,621, under which prices could test 17,520 levels. Meanwhile, resistance is seen at 17,693 and 17,895 levels.