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5 Feb 2015
Nikkei declines, Hitachi looses over 10%
FXStreet (Mumbai) - The Japanese equities index opened with a negative gap of 90 points, erasing previous session’s gains, amid risk-off trades on falling oil prices and a slightly stronger yen.
The benchmark Nikkei 225 index dropped 0.79% to 17533.75 levels, retreating from day’s high posted at 17619.34 levels. The index remained in red after the overnight European Central Bank's (ECB) decision to suspend the collateral waiver facility for Greek banks dampened investor sentiment.
The index breadth traded negative with an advance-decline ratio of 62:154. Sony Corp is the top gainer, up 11.25% after the company said that it expects significant growth in its third-quarter profit with higher sales. Yahoo Japan was up close to 5.50% after announcing a 4.7% jump in revenues for the third quarter of the 2015 financial year.
Among the top losers, Hitachi declined by -10.14as the company reported a 12% decline in profit for the third quarter on lower revenues.
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 17450 levels and from here to 17330 levels.
The benchmark Nikkei 225 index dropped 0.79% to 17533.75 levels, retreating from day’s high posted at 17619.34 levels. The index remained in red after the overnight European Central Bank's (ECB) decision to suspend the collateral waiver facility for Greek banks dampened investor sentiment.
The index breadth traded negative with an advance-decline ratio of 62:154. Sony Corp is the top gainer, up 11.25% after the company said that it expects significant growth in its third-quarter profit with higher sales. Yahoo Japan was up close to 5.50% after announcing a 4.7% jump in revenues for the third quarter of the 2015 financial year.
Among the top losers, Hitachi declined by -10.14as the company reported a 12% decline in profit for the third quarter on lower revenues.
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 17450 levels and from here to 17330 levels.