Nikkei sits at highest levels since 2000

FXStreet (Mumbai) - The Japanese equities index opened almost flat and later jumped to fresh fifteen year highs on a weaker yen against the greenback after the Federal Reserve Chair Yellen offered up nothing new in her second testimony before the House in the US last session.

The benchmark Nikkei 225 index trades 0.84% higher at 18740.33 levels, hovering close to fresh multi-year highs previously posted at 18771.88 levels. The index remains lifted as the weakness in the yen continue to push Japanese export-exposed stocks higher.

The index trades with a positive market breadth, the advance-decline ratio being 158:60. Sompo Japan Nipponko is the top gainer rallying 4.79%, Kawasaki Kisen is up 4.37%. Among the top losers, Kyowa Hakko Kirin is declining -1.91%, followed by Nisshin Steel which is down –1.44%.

Nikkei Technical Levels

The index has an immediate resistance stands at 18771.88. Meanwhile, support is seen at 18650 levels and from here to 18500 levels.