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11 Dec 2014
Nikkei falls amid risk aversion
FXStreet (Mumbai) - The Japanese stocks lost ground today due to the risk averse sentiment after overnight fall in the US equity markets.
The Nikkei index ended 155 points or 0.895 lower at 17,257.40 levels, following a 400-point fall on Wednesday. Growing concerns regarding falling Crude prices pushed US stocks lower yesterday. Thus, Japanese stocks came under pressure right from the opening bell.
Among stock, automakers were somewhat resilient on the back of buybacks and signs of strength in the US dollar. The gainers included camera-maker Canon, trading house Itochu, Japan Airlines and insurer Tokio Marine.
Moreover, there is no big news to push the stock prices higher. As per broker, the markets have already priced-in the possibility of a landslide victory of the Liberal Democratic Party in the lower house election on Sunday.
Nikkei Technical Levels
The index has an immediate resistance at 17,443, above which gains could be extended to 17,520 levels. Meanwhile, support is seen at 17,207 and 17.100 levels.
The Nikkei index ended 155 points or 0.895 lower at 17,257.40 levels, following a 400-point fall on Wednesday. Growing concerns regarding falling Crude prices pushed US stocks lower yesterday. Thus, Japanese stocks came under pressure right from the opening bell.
Among stock, automakers were somewhat resilient on the back of buybacks and signs of strength in the US dollar. The gainers included camera-maker Canon, trading house Itochu, Japan Airlines and insurer Tokio Marine.
Moreover, there is no big news to push the stock prices higher. As per broker, the markets have already priced-in the possibility of a landslide victory of the Liberal Democratic Party in the lower house election on Sunday.
Nikkei Technical Levels
The index has an immediate resistance at 17,443, above which gains could be extended to 17,520 levels. Meanwhile, support is seen at 17,207 and 17.100 levels.