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25 May 2015
Nikkei hits fresh 15-yr highs on weaker yen
FXStreet (Mumbai) - The Japanese equities index jumped 70 points at open and started the week on a stronger footing despite the weak cues from Wall Street on Friday. The index rallied to fresh fifteen year highs with a solid rally in the US dollar after last week's US inflation figures pushing the yen close to its weakest this year and boosting local stocks.
The benchmark Nikkei 225 index 0.72% higher at fresh fifteen year highs of 20411.33. The Japanese stocks extend their upward trajectory after the yen weekend to fresh two month lows versus the greenback on upbeat US inflation data released on Friday. which lent a helping hand to the exporters’ stocks.
The index trades with a positive market breadth with the advance decline ratio of 157:55. Tokyo electric power is the top gainer, up -6.50, followed by Sojitz Corp up nearly 6%. The top loser so far is Chiyoda Corp, down -2.27%, followed by Toho Zinc which loses -1.78%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20500. Meanwhile, support is seen at 20200 levels and from here to 20k levels.
The benchmark Nikkei 225 index 0.72% higher at fresh fifteen year highs of 20411.33. The Japanese stocks extend their upward trajectory after the yen weekend to fresh two month lows versus the greenback on upbeat US inflation data released on Friday. which lent a helping hand to the exporters’ stocks.
The index trades with a positive market breadth with the advance decline ratio of 157:55. Tokyo electric power is the top gainer, up -6.50, followed by Sojitz Corp up nearly 6%. The top loser so far is Chiyoda Corp, down -2.27%, followed by Toho Zinc which loses -1.78%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20500. Meanwhile, support is seen at 20200 levels and from here to 20k levels.