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14 May 2015
Nikkei drops nearly 1% on firmer yen, bond rout
FXStreet (Mumbai) - The Japanese equities index reversed gains and slid today, tracking the lacklustre cues overnight from Wall Street following downbeat US retail sales numbers which raised concerns about the outlook for the US economy.
The benchmark Nikkei 225 index trades -0.95% lower at fresh session lows of 19564.88. The Japanese stocks gave back previous gains and were trading lower on a relatively stronger yen which pushed exports-oriented stocks down. While the ongoing bond sell-off also dampens investors sentiments.
The index trades with a negative market breadth, the advance-decline ratio being 50:170. Konica Minolta Inc trades 10.85% higher, as the company joined a growing list of companies announcing higher dividends for shareholders. Credit Saison was the next big gainer, up 5.70%. Among the top losers, SKY Perfect is down -7.52%. While Casio computers slides –4.88%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19700. Meanwhile, support is seen at 19330 levels and from here to 19200 levels.
The benchmark Nikkei 225 index trades -0.95% lower at fresh session lows of 19564.88. The Japanese stocks gave back previous gains and were trading lower on a relatively stronger yen which pushed exports-oriented stocks down. While the ongoing bond sell-off also dampens investors sentiments.
The index trades with a negative market breadth, the advance-decline ratio being 50:170. Konica Minolta Inc trades 10.85% higher, as the company joined a growing list of companies announcing higher dividends for shareholders. Credit Saison was the next big gainer, up 5.70%. Among the top losers, SKY Perfect is down -7.52%. While Casio computers slides –4.88%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19700. Meanwhile, support is seen at 19330 levels and from here to 19200 levels.