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21 May 2015
Nikkei at fresh 15-yr highs, led by Tokyo electric power
FXStreet (Mumbai) - The Japanese equities index opened with a positive gap of nearly 20 points and subsequently jumped to fresh fifteen year highs above 20k mark, shrugging of another uninspiring lead overnight from Wall Street and weak China manufacturing PMI data.
The benchmark Nikkei 225 index rallied 0.62% higher at fresh multi-year highs of 20320.14. The Japanese stocks prolong its winning streak mainly tracking weaker yen which pushes exports-oriented stocks higher. While traders remain wary ahead of Bank of Japan monetary policy decision due tomorrow.
The index trades with a positive market breadth, the advance-decline ratio being 139:75. Tokyo electric trades 11.66% higher on news that the company will team with Thailand's state-owned power utility in liquefied natural gas operations. Sompo Japan is the next big gainer, up 7.13%. Among the top losers, Kyowa Hakko is down –3.26%. While Yokogawa Electric slides –2.17%.
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 rallied 0.62% higher at fresh multi-year highs of 20320.14. The Japanese stocks prolong its winning streak mainly tracking weaker yen which pushes exports-oriented stocks higher. While traders remain wary ahead of Bank of Japan monetary policy decision due tomorrow.
The index trades with a positive market breadth, the advance-decline ratio being 139:75. Tokyo electric trades 11.66% higher on news that the company will team with Thailand's state-owned power utility in liquefied natural gas operations. Sompo Japan is the next big gainer, up 7.13%. Among the top losers, Kyowa Hakko is down –3.26%. While Yokogawa Electric slides –2.17%.
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.