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11 Mar 2015
Nikkei at fresh daily highs on weaker yen
FXStreet (Mumbai) - The Japanese equities index opened on a weaker note tracking losses overnight from Wall Street and later rebounded to fresh daily highs as a weaker yen continued to push export-oriented stocks higher.
The benchmark Nikkei 225 index fell by -0.77% at 18647 levels, retreating from daily highs of 18924.38. The index extended gains amid a weaker yen after Japanese machine orders numbers dragged the home currency lower. Also, investors remain cautious ahead of the release of China's industrial production data later in the day.
The index trades with a negative market breadth, the advance-decline ratio being 145:69. Chiyoda Corp is the top gainer rallying 4.94%, Ajinomoto Co is up 3.56%. Among the top losers, Mitsubishi Materials is down -2.70%. While, Inpex Corp is lower by more than 2%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18924. Meanwhile, support is seen at 18730 levels and from here to 18500 levels.
The benchmark Nikkei 225 index fell by -0.77% at 18647 levels, retreating from daily highs of 18924.38. The index extended gains amid a weaker yen after Japanese machine orders numbers dragged the home currency lower. Also, investors remain cautious ahead of the release of China's industrial production data later in the day.
The index trades with a negative market breadth, the advance-decline ratio being 145:69. Chiyoda Corp is the top gainer rallying 4.94%, Ajinomoto Co is up 3.56%. Among the top losers, Mitsubishi Materials is down -2.70%. While, Inpex Corp is lower by more than 2%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18924. Meanwhile, support is seen at 18730 levels and from here to 18500 levels.