Nikkei Futures Down 0.2% in Low Volume
July 29, 2010 12:32
Nikkei 225 futures down 0.2% at 9710 on weaker USD/JPY (now 87.15) and profit-taking following 5.8% gain over past 4 sessions through Wednesday. Volume relatively low at just 22,319 contracts, however.
Resistance seen at 9600. "Investors selling to take profits will not test much lower for now on hopes for the often-seen end-month index rise," says Phoenix Securities manager Mamoru Nakajo. Sentiment also boosted slightly after Japan's 3 major shippers revised up their full-year earnings outlooks during lunchtime break.
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