7 May 2015
Nikkei re-opens on a bearish note, tanks over 1%
FXStreet (Mumbai) - The Japanese equities index re-opened on a weaker note today after a series of National holiday, tracking negative cues overnight from Wall Street after Federal Reserve Chair Janet Yellen warned about high stock valuations. The continued increase in bond yields also weighed on investor sentiment.
The benchmark Nikkei 225 index slumped -1.23% at 19291.60, hovering near fresh four-week lows at 19271.46 levels. The Japanese traders returned to markets after three consecutive holidays and remained pessimistic after Fed Yellen’s comments while a slightly stronger yen also dragged stocks lower.
The index trades with a negative market breadth, the advance-decline ratio being 63:153. Toho CO ltd edges 5.74% higher, followed by Sumitomo Osaka up nearly 4%. Among the top losers, Casio computers is down -7.46%. While Citizen Holdings is down –4.84%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19500. Meanwhile, support is seen at 19200 levels and from here to 19050 levels.
The benchmark Nikkei 225 index slumped -1.23% at 19291.60, hovering near fresh four-week lows at 19271.46 levels. The Japanese traders returned to markets after three consecutive holidays and remained pessimistic after Fed Yellen’s comments while a slightly stronger yen also dragged stocks lower.
The index trades with a negative market breadth, the advance-decline ratio being 63:153. Toho CO ltd edges 5.74% higher, followed by Sumitomo Osaka up nearly 4%. Among the top losers, Casio computers is down -7.46%. While Citizen Holdings is down –4.84%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19500. Meanwhile, support is seen at 19200 levels and from here to 19050 levels.