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Japanese Stock Market (Nikkei) Closes 1.17% Higher – Rally Heading for Bullish Breakout -

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    • Japanese Stock Market (Nikkei) Closes 1.17% Higher – Rally Heading for Bullish Breakout
Feb, 08th 14:51

The Japanese stock market closed on Thursday as gains in the Chemical, Petroleum & Plastic, Paper & Pulp and Communication sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 1.17%.

The best performers of the session on the Nikkei 225 were Asahi Glass Co., Ltd., which rose 5.94% or 260.0 points to trade at 4635.0 at the close. Meanwhile, JGC Corp added 4.90% or 106.0 points to end at 2270.0 and Minebea Mitsumi Inc was up 4.37% or 100.0 points to 2390.0 in late trade.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 51.69% to 31.02.

In the oil space, Index is down 0.3 percent and Japan Petroleum Exploration is declining almost 1 percent after crude oil prices fell overnight.

The Ministry of Finance said that Japan posted a current account surplus of 797.2 billion yen in December, down 28.5 percent on year. The headline figure was shy of expectations for a surplus of 1,056.9 billion yen following the 1,347.3 billion yen surplus in November.

Japan’s trade balance showed a surplus of 538.9 billion yen, exceeding expectations for 520.4 billion yen and up from 181.0 billion yen in the previous month. Exports climbed 8.8 percent on year to 7.271 trillion yen, while imports jumped 14.6 percent to 6.732 trillion yen.

On the technical charts, Nikkei225 is trading in the positive zone and above the upper band of the Bollinger bands. The market placed above the 200 day moving average, but below the 9 day, 20 day, 50 day and 100 day moving averages. The RSI is at 33.69 and the MACD is below the signal line.

Trade suggestion:

Buy digital Call options between 21950 and 22090, valid until 23:00 GMT February 8th 2018