Nikkei sinks on stronger yen

FXStreet (Mumbai) - The Japanese equities index opened with a negative up of 77 points and dived deeper on to losses tracking the weak cues overnight from Wall Street and lower commodity prices. Weaker-than-expected quarterly Tankan survey results also weighed on Japanese stocks.

The benchmark Nikkei 225 index trades lower by -0.88% at fresh session lows of 19028.77 levels. The index remained in red largely on a stronger yen amid risk-off sentiment and disappointing Japanese economic release.

The index traded with a negative market breadth, the advance-decline ratio being 41:176. Hokuetsu Kishu Paper is the top gainer so far; gaining 4.09%, followed by Tosoh Corp which is up 3.96%. Among the top losers, Nissan Chemical was down -3.90%. While, Yaskawa Electric is lower nearly 3.80%.

Nikkei Technical Levels

The index has an immediate resistance stands at 19195.25. Meanwhile, support is seen at 18900 levels and from here to 18775 levels.