19 Jun 2015
Nikkei rebounds sharply above 20k, BOJ eyed
FXStreet (Mumbai) - The Japanese equities index posed a solid recovery on Friday, bouncing-off fresh weekly lows and swinging back higher above 20k marker mirroring gains from Wall Street overnight, heading into Bank of Japan’s (BOJ) policy decision due out shortly.
Currently, the benchmark Nikkei 225 index trades 0.92% higher at 20174.11, finding good support at 20075 levels. The Japanese stocks were off to a flying start, boosted by upbeat sentiment from the US markets following below estimates US CPI figures which raised questions on Fed’s Sept rate hike prospects. While a muted yen ahead of BOJ meeting also pushed the exporters’ stocks higher.
The Nikkei 225 index trades with a positive market breadth with the advance decline ratio of 177:38. Shiongi & Co is the top gainer, up nearly 2%, followed by Alps Electric up 1.56%. The top loser so far is NTN Corp, down -0.51%, followed by Ebara Corp which loses -0.34%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20200. Meanwhile, support is seen at 20k levels and from here to 19890 levels.
Currently, the benchmark Nikkei 225 index trades 0.92% higher at 20174.11, finding good support at 20075 levels. The Japanese stocks were off to a flying start, boosted by upbeat sentiment from the US markets following below estimates US CPI figures which raised questions on Fed’s Sept rate hike prospects. While a muted yen ahead of BOJ meeting also pushed the exporters’ stocks higher.
The Nikkei 225 index trades with a positive market breadth with the advance decline ratio of 177:38. Shiongi & Co is the top gainer, up nearly 2%, followed by Alps Electric up 1.56%. The top loser so far is NTN Corp, down -0.51%, followed by Ebara Corp which loses -0.34%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20200. Meanwhile, support is seen at 20k levels and from here to 19890 levels.