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Japanese stocks rose for a fourth straight day on Tuesday

2018-03-13 07:37 am | Resource: NEWS | No Views : 348

Japanese shares rose for a fourth day on Tuesday in choppy trade as a weak yen triggered buying in futures, offsetting weakness in steelmakers and automakers still battered by concerns about U.S. tariffs on imported steel and aluminium.

The Nikkei average gained 0.7 percent to 21,968.10 while the broader Topix added 0.6 percent to 1,751.03.

Tuesday’s winners included defensive names and domestic-demand sensitive stocks such as utility shares, food processors and drugmakers. Tokyo Gas surged 2.5 percent, Ajinomoto advanced 1.4 percent and Eisai soared 2.1 percent.

Steelmakers fell 0.3 percent, while transport equipment makers lost 0.04 percent, underperforming the overall market since the U.S. tariffs were announced on March 1. 

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Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The NASDAQ 100 is moving within an up channel but it is facing resistance and selling pressure around the 7422 level which represents the upper boundary of the up channel. In view of the technical indicators Both the RSI and the Stochastic are indicating signs of recovery. Accordingly, we expect that…

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