16 Feb 2015
Nikkei jumps to multi-year highs on upbeat GDP data
FXStreet (Mumbai) - The Japanese equities index opened with a sharp positive gap of 111 points following a strong close in the international markets on Friday amid hopes for Greece's bailout plan and a Ukraine ceasefire as well as data and rallied to fresh multi-year highs on upbeat Japanese growth data.
The benchmark Nikkei 225 index trades higher by 0.50% at 18003 levels, pulling away from fresh yearly highs posted at 18074 levels some hours ago. The index jumped higher after Japan’s GDP data showed that the Japanese economy returned to growth after two-consecutive quarters of contraction following a sales tax hike last April, therefore declaring Japan officially out of recession.
The index trades with a positive market breadth, the advance-decline ratio being 154:64. Fukuoka Financial Group is the top gainer rallying 5.82%, Yokohama Rubber is up 5.59%. Among the top losers, Alps Electric Co is declining -3.74%, Kawasaki Heavy Industries is down -3.14%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18074 above which gains could be extended to 18150 levels. Meanwhile, support is seen at 17900 levels and from here to 17780 levels.
The benchmark Nikkei 225 index trades higher by 0.50% at 18003 levels, pulling away from fresh yearly highs posted at 18074 levels some hours ago. The index jumped higher after Japan’s GDP data showed that the Japanese economy returned to growth after two-consecutive quarters of contraction following a sales tax hike last April, therefore declaring Japan officially out of recession.
The index trades with a positive market breadth, the advance-decline ratio being 154:64. Fukuoka Financial Group is the top gainer rallying 5.82%, Yokohama Rubber is up 5.59%. Among the top losers, Alps Electric Co is declining -3.74%, Kawasaki Heavy Industries is down -3.14%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18074 above which gains could be extended to 18150 levels. Meanwhile, support is seen at 17900 levels and from here to 17780 levels.