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Nikkei weakens marginally

FXStreet (Mumbai) - Japanese equities ended marginally lower today amid no significant cues from the USD/JPY exchange rate. Investors awaited fresh triggers in the form of slew of US data due for release later today.

The Nikkei ended 24.04 points or 0.145 lower at 17,383.50 levels. The sentiment was weak after the US equities registered a drop due to sluggish consumer confidence index for November. Brokers also cited the OECD’s downward revision of Japan’s 2014 and 2015 GDP forecast as the reason for the weakness in the equities today.

Among stocks, Automaker Honda fell 2.89% after admitting it had failed to report serious accidents in the United States since 2003. Meanwhile, major winners for the day were mobile carrier SoftBank, trading houses Mitsui and Itochu and electronics maker Toshiba.

Nikkei Technical Levels

The index has an immediate support at 17,330, under which prices can fall to 17,095.50 levels. Meanwhile, resistance is seen at 17,498 and 17,520.54 levels.

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