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27 Mar 2015
Nikkei hits fresh 2-week lows on weak Japan data
FXStreet (Mumbai) - The Japanese equities index opened with a negative gap of 96 points and extended losses tracking weak overnight cues from Wall Street with investors treading cautiously amid geopolitical concerns and softer Japanese CPI and retail sales data.
The benchmark Nikkei 225 index trades lower by nearly -2% at 19109 levels, having recent posted fresh two week lows at 19099.87. The index slipped further amid concerns over the pace of US economic recovery ahead of US GDP data later in the day and rising geopolitical risks as traders digest mixed economic data from Japan.
The index trades with a negative market breadth, the advance-decline ratio being 42:182. Mitsui Mining is the top gainer today; gaining 4.04%, followed by Panasonic Corp which is up 3.31%. Among the top losers, Nippon Yusen is down -4.89%. While, Marubeni Corp is lower nearly 4.50%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19230. Meanwhile, support is seen at 19k levels and from here to 18880 levels.
The benchmark Nikkei 225 index trades lower by nearly -2% at 19109 levels, having recent posted fresh two week lows at 19099.87. The index slipped further amid concerns over the pace of US economic recovery ahead of US GDP data later in the day and rising geopolitical risks as traders digest mixed economic data from Japan.
The index trades with a negative market breadth, the advance-decline ratio being 42:182. Mitsui Mining is the top gainer today; gaining 4.04%, followed by Panasonic Corp which is up 3.31%. Among the top losers, Nippon Yusen is down -4.89%. While, Marubeni Corp is lower nearly 4.50%.
Nikkei Technical Levels
The index has an immediate resistance stands at 19230. Meanwhile, support is seen at 19k levels and from here to 18880 levels.