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24 Feb 2015
Nikkei sits at fresh 15-year highs on weaker yen
FXStreet (Mumbai) - The Japanese equities index opened almost flat and rallied to fresh fifteen year highs largely on a weaker yen against the US dollar as markets remain cautious ahead of the US Federal Reserve Chair Janet Yellen's testimony before the House and Senate.
The benchmark Nikkei 225 index trades higher by 0.52% at 18562.16 levels, hovering close to multi-year highs previously posted at 18583.30 levels. The index remains elevated as the weakness in the Japanese currencies continues to lift export oriented stocks higher.
The index trades with a positive market breadth, the advance-decline ratio being 134:84. Taiheiyo Cement Corp is the top gainer rallying 4.51%, TOTO Ltd. is up 4.15%. Among the top losers, COMSYS Holdings is declining -5.42%, followed by Sumitomo Heavy Industries which is down –2.42%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18583.30. Meanwhile, support is seen at 18427 levels and from here to 18332 levels.
The benchmark Nikkei 225 index trades higher by 0.52% at 18562.16 levels, hovering close to multi-year highs previously posted at 18583.30 levels. The index remains elevated as the weakness in the Japanese currencies continues to lift export oriented stocks higher.
The index trades with a positive market breadth, the advance-decline ratio being 134:84. Taiheiyo Cement Corp is the top gainer rallying 4.51%, TOTO Ltd. is up 4.15%. Among the top losers, COMSYS Holdings is declining -5.42%, followed by Sumitomo Heavy Industries which is down –2.42%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18583.30. Meanwhile, support is seen at 18427 levels and from here to 18332 levels.