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15 Jan 2015
Nikkei ends higher on Commodities rebound, Mitsumi Electric jumped 12.5%
FXStreet (Mumbai) - The Japanese equities index reversed previous losses and ended higher today as a slight recovery in oil prices helped restore investor confidence.
The benchmark Nikkei 225 index closed at 17108.70, up 1.86%, compared to previous session’s close of 16795.96. The index regained strength today as recovery in oil and copper prices pushed metals, mining and energy stocks higher. Moreover, a weaker yen too contributed to the gains in the index.
The index breadth ended positive with an advance-decline ratio of 203:21. Among the major gainers, Mitsumi Electric Co led the index up by 12.58% followed by Bridgestone Corp which gained 7.16% and JGC Corp moved up 5.8%. Mitsui Mining & Smelting Co Ltd was the top loser, down -3.07%. Tokyo Tatemono Co Ltd and Konami CorpInc fell over 2.20%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17340 above which gains could be extended to 17540 levels. Meanwhile, support is seen at 17K levels and from here to 16770 levels.
The benchmark Nikkei 225 index closed at 17108.70, up 1.86%, compared to previous session’s close of 16795.96. The index regained strength today as recovery in oil and copper prices pushed metals, mining and energy stocks higher. Moreover, a weaker yen too contributed to the gains in the index.
The index breadth ended positive with an advance-decline ratio of 203:21. Among the major gainers, Mitsumi Electric Co led the index up by 12.58% followed by Bridgestone Corp which gained 7.16% and JGC Corp moved up 5.8%. Mitsui Mining & Smelting Co Ltd was the top loser, down -3.07%. Tokyo Tatemono Co Ltd and Konami CorpInc fell over 2.20%.
Nikkei Technical Levels
The index has an immediate resistance stands at 17340 above which gains could be extended to 17540 levels. Meanwhile, support is seen at 17K levels and from here to 16770 levels.