Back
4 Mar 2015
Nikkei extends losses on stronger yen
FXStreet (Mumbai) - The Japanese equities index opened with a sharp negative gap of 100 points and extended losses tracking the weak cues overnight from Wall Street and also a stronger yen dented investors’ sentiments.
The benchmark Nikkei 225 index trades lower by -0.49% at 18727.47 levels, retreating from session lows of 18586.84. The index reversed half its slide as the yen gave away gains and fell in red against the US dollar, providing some relief to the exporters’ stocks.
The index trades with a negative market breadth, the advance-decline ratio being 60:155. NGK Insulators is the top gainer rallying 3.39%, Mitsubishi Materials is up 3.17%. Among the top losers, Sumco Corp is declining -12.53%. While, Sharp Corp is lower by almost 5% as further details emerged of its plans to request capital infusion from its two main creditors.
Nikkei Technical Levels
The index has an immediate resistance stands at 18732.66. Meanwhile, support is seen at 18586 levels and from here to 18500 levels.
The benchmark Nikkei 225 index trades lower by -0.49% at 18727.47 levels, retreating from session lows of 18586.84. The index reversed half its slide as the yen gave away gains and fell in red against the US dollar, providing some relief to the exporters’ stocks.
The index trades with a negative market breadth, the advance-decline ratio being 60:155. NGK Insulators is the top gainer rallying 3.39%, Mitsubishi Materials is up 3.17%. Among the top losers, Sumco Corp is declining -12.53%. While, Sharp Corp is lower by almost 5% as further details emerged of its plans to request capital infusion from its two main creditors.
Nikkei Technical Levels
The index has an immediate resistance stands at 18732.66. Meanwhile, support is seen at 18586 levels and from here to 18500 levels.