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4 Feb 2015
Nikkei rebounds as oil climbs
FXStreet (Mumbai) - The Japanese equities index opened with a solid positive gap of 180 points, rebounding from previous fall, tracking the positive cues overnight from Wall Street and the rally in crude oil prices.
The benchmark Nikkei 225 index rallied 1.92% to 17667.80 levels, retreating from day’s high posted at 17743.11 le els. The index bounce-back sharply led by soaring energy stocks after higher oil prices. Moreover, increasing appetite for riskier assets also added to the upside in the equities.
The index breadth traded positive with an advance-decline ratio of 193:31. Oki Electric Industry Co is the top gainer, up 7.36% followed by Takara Holdings and Ebara Corp which are up 6%. Among the top losers, Tosoh Corp declined by -7.46%, while Sharp Corp and JTEKT Corp declined -4.26% to -5.71%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17800 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17500 levels and from here to 17330 levels.
The benchmark Nikkei 225 index rallied 1.92% to 17667.80 levels, retreating from day’s high posted at 17743.11 le els. The index bounce-back sharply led by soaring energy stocks after higher oil prices. Moreover, increasing appetite for riskier assets also added to the upside in the equities.
The index breadth traded positive with an advance-decline ratio of 193:31. Oki Electric Industry Co is the top gainer, up 7.36% followed by Takara Holdings and Ebara Corp which are up 6%. Among the top losers, Tosoh Corp declined by -7.46%, while Sharp Corp and JTEKT Corp declined -4.26% to -5.71%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17800 above which gains could be extended to 17914 levels. Meanwhile, support is seen at 17500 levels and from here to 17330 levels.