NIKKEI 225 RISES ON PRESIDENT TRUMP’S COMMENTS ON JAPAN AUTO TARIFFS

Nikkei 225 futures are currently trading at 20515-higher by 0.05% as compared to the previous closing. The contract closed in the positive territory in the last trading session also.

In the Cash Markets, the Nikkei 225 added 0.96% to close at 20,456.08 on Tuesday. The benchmark index hit its lowest closing level since 11th January in the previous trading session.

The broad-market index rose today after U.S. President Donald Trump said late on Monday that Washington would not imminently impose new tariffs on autos imported from Japan.

The U.S. President’s comment boosted stock prices of tyremakers, carmakers, and car parts makers.

The broader Topix added 0.79% to close at 1,489.69 on Tuesday with 31 of Tokyo’s sub-indexes ending in the green.

The transport equipment sector rose by 1.2%. Carmaker Subaru Corp which has the biggest revenue exposure to the U.S. surged 4.93% on Tuesday.

Rubber products sector gained 1.5% and was the top-gaining sector among the Topix’s 33 sub-indices on Tuesday. Sumitomo Rubber and Yokohama Rubber rose 2.3% and 3.0% respectively, while Bridgestone advanced 1.3%.

Defensive stocks also outperformed on Tuesday. KDDI Corp gained 1.49% and Nippon Telegraph and Telephone Corp added 0.71%.

Cyclical shares rose today with shippers Mitsui OSK Lines gaining 1.26% and Kawasaki Kisen rising 2.12%.

Domestic-demand sensitive shares ended mixed on Tuesday. Drug-maker Daiichi Sankyo gained 0.33% while Realtor Mitsui Fudosan declined 0.32%.

On the technical front, the RSI is currently at 44.51% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands and is heading upwards.

Overall Bias is Positive and Short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

Trade Suggestion- Limit Buy At 20490 Take Profit At 20640 Stop Loss At 20415

 

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