Nikkei drives Asian indices higher, weaker yen boosts

FXStreet (Mumbai) – The Japanese benchmark, the Nikkei rebounded on Thursday and opened with a positive gap of 150 points, driving its other Asian counterparts higher mainly on the back of positive cues overnight from Wall Street and a weaker yen boosting investor sentiment. Tech and banking stocks are among the major gainers.

The Japanese benchmark Nikkei 225 is gaining 1.40% to trade at 20578.47. While benchmark Australian S&P/ASX 200 index edged 0.65% higher at 5660 points, with miners lifted on stabilizing gold prices and rebounding iron-ore prices.

While Chinese stock market remains in the positive territory with Hong Kong’s benchmark Hang Seng index 0.60% higher at 24759 while mainland China’s benchmark Shanghai Composite muted near 3789.

Nikkei Technical Levels

The index has an immediate resistance stands at 20631. Meanwhile, support is seen at 20400 levels and from here to 20278.

The Japanese benchmark, the Nikkei rebounded on Thursday and opened with a positive gap of 150 points, driving its other Asian counterparts higher mainly on the back of positive cues overnight from Wall Street and a weaker yen boosting investor sentiment. Tech and banking stocks are among the major gainers.

(Market News Provided by FXstreet)