2 Jul 2015
Nikkei extends rally on weaker yen
FXStreet (Mumbai) - The Japanese equities index opened sharply higher with positive gap of 236 points, extending gains for the third straight session following the positive lead overnight from Wall Street. Moreover, a weaker yen boosted exporters' stocks.
Currently, the benchmark Nikkei 225 index trades 1.16%% higher at 20564.59, retracing from session highs of 20601.73. The Japanese stocks held onto gains amid a relatively weaker yen versus the greenback following a set of upbeat US economic data which boosted the US dollar across the board. While latest positive news from Greece also boosted market sentiment.
The Nikkei 225 index trades with a positive market breadth with the advance decline ratio of 180:38. Sharp Corp is the top gainer, up over 4.60%, followed by Tokyu Fudosan up 4.28%. The top loser so far is Sumco Corp, down -2.50%, followed by Nippon Electric Glass which is losing -1.56%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20700. Meanwhile, support is seen at 20500 levels and from here to 20360 levels.
Currently, the benchmark Nikkei 225 index trades 1.16%% higher at 20564.59, retracing from session highs of 20601.73. The Japanese stocks held onto gains amid a relatively weaker yen versus the greenback following a set of upbeat US economic data which boosted the US dollar across the board. While latest positive news from Greece also boosted market sentiment.
The Nikkei 225 index trades with a positive market breadth with the advance decline ratio of 180:38. Sharp Corp is the top gainer, up over 4.60%, followed by Tokyu Fudosan up 4.28%. The top loser so far is Sumco Corp, down -2.50%, followed by Nippon Electric Glass which is losing -1.56%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20700. Meanwhile, support is seen at 20500 levels and from here to 20360 levels.