2 Feb 2015
Nikkei declines on global growth woes
FXStreet (Mumbai) - The Japanese equities index opened with a sharp negative gap of 130 points and remained lower following weak close on Wall Street overnight on the back weaker-than-expected U.S. GDP growth, despite a relatively weaker yen.
The benchmark Nikkei 225 index dropped 0.69% to 17548 levels, pulling away from daily highs previously reached at 17628.40 levels. The index fell further after weaker than expected Chinese manufacturing activity data spooked markets and raised concerns over the global economic growth.
The index breadth traded negative with an advance-decline ratio of 52:162. Fujitsu is the top gainer, up 9.53%, followed by Sumitomo Chemicals which is higher by 7.26% and Okuma Corp advancing 6.91%. Among the top losers, NGK Insulators led the index lower, falling -9.57%. Konica Minolta trades lower by -9.19% and Kansai Electric Power slipped by -7.09%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17778 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17439 levels and from here to 17300 levels.
The benchmark Nikkei 225 index dropped 0.69% to 17548 levels, pulling away from daily highs previously reached at 17628.40 levels. The index fell further after weaker than expected Chinese manufacturing activity data spooked markets and raised concerns over the global economic growth.
The index breadth traded negative with an advance-decline ratio of 52:162. Fujitsu is the top gainer, up 9.53%, followed by Sumitomo Chemicals which is higher by 7.26% and Okuma Corp advancing 6.91%. Among the top losers, NGK Insulators led the index lower, falling -9.57%. Konica Minolta trades lower by -9.19% and Kansai Electric Power slipped by -7.09%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17778 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17439 levels and from here to 17300 levels.