13 May 2015
Nikkei remains elevated, awaits China data
FXStreet (Mumbai) - The Japanese equities index extended gains for the third straight session and remains elevated despite the lacklustre cues overnight from Wall Street amid concerns about the debt situation in Greece as well as the recent selloff in the global bond market. While markets await a slew of Chinese macro data due out shortly for fresh incentives.
The benchmark Nikkei 225 index trades higher by 0.50% at 19722.32, drifting from fresh session highs previously posted at 19753.34 levels. The Japanese stocks held gains as market gear up for Chinese industrial production, retail sales and fixed investment data due later in the session, which could signal further weakness in Asia's largest economy.
The index trades with a positive market breadth, the advance-decline ratio being 124:93. Toho Zinc edges 8.76% higher, followed by NGK Insulators up nearly 0.62%. Among the top losers, Mitsumi Electric is down -8%. While Nippon Soda is down –5.35%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19900. Meanwhile, support is seen at 19500 levels and from here to 19330 levels.
The benchmark Nikkei 225 index trades higher by 0.50% at 19722.32, drifting from fresh session highs previously posted at 19753.34 levels. The Japanese stocks held gains as market gear up for Chinese industrial production, retail sales and fixed investment data due later in the session, which could signal further weakness in Asia's largest economy.
The index trades with a positive market breadth, the advance-decline ratio being 124:93. Toho Zinc edges 8.76% higher, followed by NGK Insulators up nearly 0.62%. Among the top losers, Mitsumi Electric is down -8%. While Nippon Soda is down –5.35%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19900. Meanwhile, support is seen at 19500 levels and from here to 19330 levels.