1 May 2015
Fujitsu drags Nikkei to fresh 3-week lows
FXStreet (Mumbai) - The Japanese equities index opened on a weaker note, extending losses from the previous following heavy losses witnessed on Wall Street overnight. Moreover, downbeat economic data from Japan and China further dampened investors’ sentiment.
The benchmark Nikkei 225 index trades lower by -0.27% at 19467.18, retracing slightly from fresh 3-week lows reached at 19399.16. The index, although recovered most losses as yen remained relatively weak pushing the exports stocks higher.
The index trades with a negative market breadth, the advance-decline ratio being 45:177. TOTO Ltd edges 7.14% higher, followed by Nitto Denko Corp up nearly 4.26%. Among the top losers, Fujitsu Ltd posts a record drop of -19% after disappointing earnings report reflecting falling net income. While Yamato Holdings is down –5.62%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19550. Meanwhile, support is seen at 19400 levels and from here to 19250 levels.
The benchmark Nikkei 225 index trades lower by -0.27% at 19467.18, retracing slightly from fresh 3-week lows reached at 19399.16. The index, although recovered most losses as yen remained relatively weak pushing the exports stocks higher.
The index trades with a negative market breadth, the advance-decline ratio being 45:177. TOTO Ltd edges 7.14% higher, followed by Nitto Denko Corp up nearly 4.26%. Among the top losers, Fujitsu Ltd posts a record drop of -19% after disappointing earnings report reflecting falling net income. While Yamato Holdings is down –5.62%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19550. Meanwhile, support is seen at 19400 levels and from here to 19250 levels.