8 Dec 2014
Nikkei hits 18k mark, highest since 2007
FXStreet (Mumbai) - The Japanese equities index opened higher in Asian trading, tracking Wall Street’s gains from Friday and on continued yen weakness.
Nikkei trades almost flat at 17945.50 at time of writing, after clocking day’s high at 18087 in the early Asian hours. Nikkei failed to sustain at higher levels and immediately gave up gains after Japan’s final GDP numbers raised concerns over the country growth outlook.
Among the major gainers, Dentsu Inc. is moving up 5.2 percent and Mitsumi Electric Co is advancing 3.75 percent. The major losers are Sumco Corp. which is down over 4 percent, while Alps Electric Co Ltd is down 2.3 percent.
Nikkei Technical Levels
The index has an immediate resistance stands at 18000 (2007 levels) above which gains could be extended to 18200 levels. Meanwhile, support is seen at 17897 (10-day SMA), 17858 (20-day SMA) and from here to 17813 (Dec 4 Low) levels.
Nikkei trades almost flat at 17945.50 at time of writing, after clocking day’s high at 18087 in the early Asian hours. Nikkei failed to sustain at higher levels and immediately gave up gains after Japan’s final GDP numbers raised concerns over the country growth outlook.
Among the major gainers, Dentsu Inc. is moving up 5.2 percent and Mitsumi Electric Co is advancing 3.75 percent. The major losers are Sumco Corp. which is down over 4 percent, while Alps Electric Co Ltd is down 2.3 percent.
Nikkei Technical Levels
The index has an immediate resistance stands at 18000 (2007 levels) above which gains could be extended to 18200 levels. Meanwhile, support is seen at 17897 (10-day SMA), 17858 (20-day SMA) and from here to 17813 (Dec 4 Low) levels.