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15 Apr 2015
Nikkei lifeless on poor China data
FXStreet (Mumbai) - The Japanese equities index opened slightly despite positive close on Wall Street overnight and subsequently traded around a flat line after weak growth data from the world's second-biggest economy failed to move the index.
The benchmark Nikkei 225 index trades flat at 19900.12, close to highs at 19913.42 levels. The index erased initial losses and trades modestly flat ignoring weaker yen backed support to the exports stocks as investors continue to digest the latest series of weak Chinese economic releases with the Q1 2015 GDP coming in lowest since 2009.
The index trades with a positive market breadth, the advance-decline ratio being 111:100. Real estate shares saw heavy gains early in the session, with Toho rallying more than 7%, followed by Nippon electric rallying 4.24%. Among the top losers, JGC Corp is down–5.29%. While Nisshin Steel is down –2.80%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19950. Meanwhile, support is seen at 19700 levels and from here to 19550 levels.
The benchmark Nikkei 225 index trades flat at 19900.12, close to highs at 19913.42 levels. The index erased initial losses and trades modestly flat ignoring weaker yen backed support to the exports stocks as investors continue to digest the latest series of weak Chinese economic releases with the Q1 2015 GDP coming in lowest since 2009.
The index trades with a positive market breadth, the advance-decline ratio being 111:100. Real estate shares saw heavy gains early in the session, with Toho rallying more than 7%, followed by Nippon electric rallying 4.24%. Among the top losers, JGC Corp is down–5.29%. While Nisshin Steel is down –2.80%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19950. Meanwhile, support is seen at 19700 levels and from here to 19550 levels.