Nikkei sits at all-time highs near 20,600

FXStreet (Mumbai) – The Japanese equities index opened on a stronger note with a positive gap of 120 points tracking the positive lead overnight from Wall Street and on optimism that Greece was on the verge of a rescue deal with its international creditors.

Currently, the benchmark Nikkei 225 index trades 0.52% higher at 20,588, easing off fresh record highs at 20655.33. The index subsequently rallied to fresh all-time highs as a sharply weaker yen at fresh twelve year lows versus the US dollar, pushed the exports stocks higher.

The index trades with a positive market breadth with the advance decline ratio of 145:68. Mizuho Financial is the top gainer, up nearly 6.13%, followed by Tokyo Electric Power up 5.71%. The top loser so far is Keisei Electric Railway, down -3.11%, followed by Nippon Kayaku which loses -2.10%.

Nikkei Technical Levels

The index has an immediate resistance stands at 20655.33. Meanwhile, support is seen at 20400 levels and from here to 20260 levels.

The Japanese equities index opened on a stronger note with a positive gap of 120 points tracking the positive lead overnight from Wall Street and on optimism that Greece was on the verge of a rescue deal with its international creditors.

(Market News Provided by FXstreet)