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Nikkei Normalizes After A Month-long Jolts

On Thursday, Nikkei slashed 0.02 per cent at 21,139.71.
BY BEx Bureau
BusinessEx
Feb 14, 2019

On Thursday, Japans Nikkei normalized to average from the high-jolting performance. The normalcy in Nikkei begets relief to the investors from upturns and revenue discontent covered the entire market.

Nikkei slashed 0.02 per cent at 21,139.71 following the increase to 21,235.62, the highest it scored since December 2018.

The monetary gains were worn out by profit-taking, which came out following the index incremented by 4 per cent (approx.) in the last two days, owing to anticipations regarding lowered possibilities of US-china trade war and Washingtons averting another shutdown. (Source: ET news)

Katsuhiko Nakamura, a senior technical analyst at Mizuho Securities, said "The index has become top-heavy, though trading volume is quoted solid so the downside should be limited. (Source: Reuters)

Nakamura said that Nikkeis resistance is seen at its 200th day of moving average 22,104. Exporters got intense as the Japanese currency- Yen has slashed a seven-week low against the dollar whilst Honda Motor Co rising 1.3 per cent and Advantest Corp leaping upward by 1.6 per cent. (Source: ET news)

Other companies have also undergone rallies in the index. With Index heavyweight, Fast Retailing surged by 0.4 per cent and Asics Crops shares dropped by 5 per cent following sporting goods maker proclaimed a net loss.



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