Japans Nikkei index ended Friday trading down
2018-06-08 07:39 am | Resource: NEWS | No Views : 90
Japan's Nikkei finished down 0.6% at 22,694.50 and the Nikkei is up 2.4% for the week, its biggest gain in 11 weeks. The broader TOPIX index was down 0.4 percent at 1,781.44. On Thursday, the Nikkei index reached levels not seen in more than two weeks.
Takuya Takahashi, a strategist at Daiwa Securities, said the market was waiting for the Fed to raise as well as ECB meetings. There is still a risk that the results may not be what the market is expecting, but given the momentum the Nikkei has recovered this week, the market appears to be somewhat optimistic. "
The Federal Reserve is widely expected to announce a rate hike on Wednesday, while the European Central Bank will discuss next week whether to end the bond purchase later this year.
Investors were cautious as US President Donald Trump held his hawkish stance against major allies ahead of the summit on Friday and Saturday in Charlevoix, Quebec, after imposing a tariff on steel and aluminum imports from Canada, Mexico and the European Union.
Shares in large caps fell, with Softbank down 2.9 percent and Funuc Corp down 1.3 percent and Tokyo Electron down 2.12 percent.
Defense stocks such as railways and utilities outperformed. West Japan Railways rose 0.1 percent and Tokyo Gas rose 0.9 percent.
Shares in Kikkoman Corp. rose 1.9 percent following an media report that the honorary CEO said he planned to set up sales companies to sell soy sauce in South America and India.
Time frame Used - four hours The NASDAQ 100 is moving in a bearish direction in the near term The bears were able to control the movement of the NASDAQ 100 index to break the support level of 7366 down as the NASDAQ 100 faces resistance the bearish trend line which trades below it In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of…
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