24 Mar 2015
Nikkei subdued on poor China data
FXStreet (Mumbai) - The Japanese equities index opened broadly flat and remained close to fresh fifteen year highs supported above 19700 levels, tracking the weak cues overnight from Wall Street and as data showed that the manufacturing sector in China, the world's second-largest economy, dipped into contraction territory in March.
The benchmark Nikkei 225 index trades slightly lower by -0.17% at 19722.80 levels, retreating from day’s highs of 19770.64 reached in early trades. The index remained subdued as investors resorted to profit taking following the recent strong gains. Moreover, weak Chinese PMI reading continued to dampen investors’ sentiments.
The index trades with a negative market breadth, the advance-decline ratio being 82:136. Pharma Company, Eisai Co continues to be the top gainer today, gaining another 9.45% after a brokerage upgraded the stock yesterday. Furukawa Co is up 6.34%. Among the top losers, JGC Corp is down -5%. While, COMSYS Holdings is lower nearly 3.30%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19770.64. Meanwhile, support is seen at 19584 levels and from here to 19416 levels.
The benchmark Nikkei 225 index trades slightly lower by -0.17% at 19722.80 levels, retreating from day’s highs of 19770.64 reached in early trades. The index remained subdued as investors resorted to profit taking following the recent strong gains. Moreover, weak Chinese PMI reading continued to dampen investors’ sentiments.
The index trades with a negative market breadth, the advance-decline ratio being 82:136. Pharma Company, Eisai Co continues to be the top gainer today, gaining another 9.45% after a brokerage upgraded the stock yesterday. Furukawa Co is up 6.34%. Among the top losers, JGC Corp is down -5%. While, COMSYS Holdings is lower nearly 3.30%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19770.64. Meanwhile, support is seen at 19584 levels and from here to 19416 levels.