Nikkei edges lower on profit-taking

FXStreet (Mumbai) – The Japanese equities index halted its upward trajectory and fell in red largely on profit-taking following the recent spell of gains. The index also edged lower as markets took cues from the performance on US markets overnight.

Currently, the benchmark Nikkei 225 index -0.40% lower at 20,465.97, having posted day’s high at 20506.35 and day’s low at 20397.73. The index erased gains and edged lower also as the yen rebounded from fresh 13 year lows versus the greenback, weighing on the export stocks.

The index trades with a negative market breadth with the advance decline ratio of 98:118. Nisshin Seifun Group is the top gainer, up nearly 5.32%, followed by Nippon Steel Glass up 4.50%. The top loser so far is Chubu Electric Power, down -3.25%, followed by SCREEN Holdings which loses -2.72%.

Nikkei Technical Levels

The index has an immediate resistance stands at 20595. Meanwhile, support is seen at 20360 levels and from here to 20200 levels.

The Japanese equities index halted its upward trajectory and fell in red largely on profit-taking following the recent spell of gains. The index also edged lower as markets took cues from the performance on US markets overnight.

(Market News Provided by FXstreet)