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30 Dec 2014
Nikkei jittery on Greek woes
FXStreet (Mumbai) - The Japanese equities index opened with a negative start and edged lower tracking overnight sluggish close on Wall Street and on lingering concerns over Greece.
The benchmark Nikkei 225 index trades lower by 1.12% or 199 points at 17530.80, compared to previous session’s close of 17729.84. The index trades weaker tracking negative lead from Wall Street where the major averages ended at flat amid worries over Greece’s financial and political instability. The index may remain vulnerable in absence of any key economic releases and on a renewed strength seen in the Japanese yen.
The index breadth is negative with an advance decline ratio of 58:156. After closing at a seven-year high yesterday, shares of Tosoh Corp. declined 3.2% this morning on profit taking. Shares in Sumco Corp, Pioneer Corp, Advantest Corp and Sony Corp were down 2% to 3%. Among the gainers, Toray Industries Inc moved up nearly 4% on reports that the company will supply carbon-fiber materials to German carmaker BMW. A likely 12% surge in the company's nine-month profit also contributed to the stock's upmove. Nippon Kayaku Co. shares moved up 3%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17543.02 (20-DMA) above which gains could be extended to 17692.58 (Dec 22 High) levels. Meanwhile, support is seen at 17477.91 (10-DMA) levels and from here to 17200 levels.
The benchmark Nikkei 225 index trades lower by 1.12% or 199 points at 17530.80, compared to previous session’s close of 17729.84. The index trades weaker tracking negative lead from Wall Street where the major averages ended at flat amid worries over Greece’s financial and political instability. The index may remain vulnerable in absence of any key economic releases and on a renewed strength seen in the Japanese yen.
The index breadth is negative with an advance decline ratio of 58:156. After closing at a seven-year high yesterday, shares of Tosoh Corp. declined 3.2% this morning on profit taking. Shares in Sumco Corp, Pioneer Corp, Advantest Corp and Sony Corp were down 2% to 3%. Among the gainers, Toray Industries Inc moved up nearly 4% on reports that the company will supply carbon-fiber materials to German carmaker BMW. A likely 12% surge in the company's nine-month profit also contributed to the stock's upmove. Nippon Kayaku Co. shares moved up 3%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17543.02 (20-DMA) above which gains could be extended to 17692.58 (Dec 22 High) levels. Meanwhile, support is seen at 17477.91 (10-DMA) levels and from here to 17200 levels.