9 Jan 2015
Nikkei posts minor gains
FXStreet (Mumbai) - The Japanese stock markets posted minor gains today, tracking the overnight gains on the Wall Street, although investors remained cautious ahead of key economic data releases in the US.
The Nikkei index advanced 0.18% higher at 17,197.73, compared to the previous session’s close of 17,167.10 levels. The stocks witnessed early buying due to overnight strength in the US equities and due to renewed hopes of additional easing steps by the European Central Bank. However, the initial buying saw exhaustion as the Yen strengthened 0.30% against the US dollar.
Among stocks, Shipbuilder Kawasaki Heavy jumped 2.57% on reports that its fiscal 2014 group operating profit is expected to increase by 17 percent from a year. NTT Docomo gained more than 5% on hopes for success in its new fixed-line broadband connection service.
Meanwhile, on the minus side were shares in Mazda plunged after JPMorgan Securities Japan cut its stock price target on the automaker. JAL and rival air carrier ANA Holdings, as well as shipping firms Kawasaki Kisen and Nippon Yusen, came under profit-taking.
Nikkei Technical Levels
The immediate support is seen at 17,108, under which losses could be extended to 17,403 levels. Meanwhile, resistance is seen at 17,243 and 17,342 levels.
The Nikkei index advanced 0.18% higher at 17,197.73, compared to the previous session’s close of 17,167.10 levels. The stocks witnessed early buying due to overnight strength in the US equities and due to renewed hopes of additional easing steps by the European Central Bank. However, the initial buying saw exhaustion as the Yen strengthened 0.30% against the US dollar.
Among stocks, Shipbuilder Kawasaki Heavy jumped 2.57% on reports that its fiscal 2014 group operating profit is expected to increase by 17 percent from a year. NTT Docomo gained more than 5% on hopes for success in its new fixed-line broadband connection service.
Meanwhile, on the minus side were shares in Mazda plunged after JPMorgan Securities Japan cut its stock price target on the automaker. JAL and rival air carrier ANA Holdings, as well as shipping firms Kawasaki Kisen and Nippon Yusen, came under profit-taking.
Nikkei Technical Levels
The immediate support is seen at 17,108, under which losses could be extended to 17,403 levels. Meanwhile, resistance is seen at 17,243 and 17,342 levels.