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The Nikkei average rose to a one and a half week high on Monday

2018-03-12 07:37 am | Resource: NEWS | No Views : 124



Japan's Nikkei rose to a one-and-a-half-week high on Monday, boosted by technology shares, but early gains were curtailed as the questionable favoritism scandal soured sentiment.

The Nikkei ended 1.7 percent higher at 21,824.03 points, its highest level since Feb. 28, but below the day's high of 21,971.16.

Japanese Prime Minister Shinzo Abe and his wife and finance minister Taro Aso have been referred to from documents relating to the sale of disputed land, according to documents seen by Reuters.

Asked about the sale of state-owned land at a huge discount to a school operator with links to Abe's wife since her appearance last year, the market was broadly strong after the US jobs report in February reduced inflation and high interest rates.

Shares in technology-related companies advanced after Friday's gains on the Nasdaq, with Tokyo Electron up 3.1%, Somco up 2.5% and Shin-Etsu Chemical up 2.3%.

Nikon Corp rose 1.5 percent and Canon gained 2.0 percent, and exporters' shares were boosted after the dollar gained heavily against the yen after the US employment report on Friday.

Shares in Panasonic jumped 2.7 percent, Nissan Motor rose 1.7 percent, and the broader TOPIX index gained 1.5 percent to 1,741.30 points


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NASDAQ Technical Analysis 22 June 2018

Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term the Purchasing power managed to control the movement of the NASDAQ 100 index to reach the resistance level of  7315 as we  mentioned in the previous report as it faces resistance and selling pressure around this level to actually fall back to level of7183 trying to consolidate above this level In…

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