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15 May 2015
Dentsu Inc drives Nikkei higher
FXStreet (Mumbai) - The Japanese equities index rebounded and opened with a positive gap of nearly 120 points tracking strong gains overnight on Wall Street and a drop in bond yields lifting sentiment.
The benchmark Nikkei 225 index trades 0.48% higher at 19663, retracing from 19750.76 session highs. The Japanese stocks wiped out previous losses and bounced-back sharply today as a relatively weaker yen continue to support the exporters’ stocks while renewed optimism also pushes the index higher.
The index trades with a positive market breadth, the advance-decline ratio being 118:100. Dentsu Inc trades 12.92% higher, after the company reported solid gain in profit margins. Nitto Denko Corp was the next big gainer, up 4.32%.
Among the top losers, Nikon Corp is down -12.42% after the camera maker forecast a lower profit for the full-year and said it expects to halve the annual dividend. The company also reported a 61% fall in net profit for the year ended March 31.
Nikkei Technical Levels
The index has an immediate resistance stands at 19800. Meanwhile, support is seen at 19500 levels and from here to 19330 levels.
The benchmark Nikkei 225 index trades 0.48% higher at 19663, retracing from 19750.76 session highs. The Japanese stocks wiped out previous losses and bounced-back sharply today as a relatively weaker yen continue to support the exporters’ stocks while renewed optimism also pushes the index higher.
The index trades with a positive market breadth, the advance-decline ratio being 118:100. Dentsu Inc trades 12.92% higher, after the company reported solid gain in profit margins. Nitto Denko Corp was the next big gainer, up 4.32%.
Among the top losers, Nikon Corp is down -12.42% after the camera maker forecast a lower profit for the full-year and said it expects to halve the annual dividend. The company also reported a 61% fall in net profit for the year ended March 31.
Nikkei Technical Levels
The index has an immediate resistance stands at 19800. Meanwhile, support is seen at 19500 levels and from here to 19330 levels.