TOKYO (Reuters) – The Tokyo stock market is expected to be nervous this week. As for the financial instability in Europe and the United States, there is little view that the impact will spread to the entire financial system. UBS has decided to acquire Credit Suisse, but there is a sense of caution that other banks may also become unstable, and the market is skeptical, so it is necessary to pay attention to the downside risk.
On the other hand, the US Federal Open Market Committee (FOMC) will be held on the 21st and 22nd, and if the event passes smoothly, it is likely that there will be buybacks. The Nikkei Stock Average fell by more than 2,000 yen in five business days until the 16th, creating a sense of bargaining, and it is believed that bargain buying will support the lower price. In terms of trends, semiconductor stocks, which are conscious of being late to the market, are expected to perform well.
The expected range for the Nikkei Stock Average is 26,600-27,600 yen.
“Japanese stocks are likely to be volatile this week. It is expected that the financial instability in Europe and the United States will still take time to resolve, and the Nikkei average sees greater downside risk.The FOMC is the event to watch this week, but However, if the 0.25% interest rate hike is decided as expected by the market, it will pass without a hitch. From a technical point of view, the 200-day moving average, which is located in the 27,300 yen range, is seen as an upside resistance line, and the high 27,000 yen range is likely to be conscious of the weight of the topside. I’m watching
Mr. Hiroshi Namioka> “Regarding the financial instability in Europe and the United States, the risk of the impact spreading to the entire financial system is low. The financial instability caused by the bankruptcy of the US bank is expected to ease for the time being, and the ECB Governing Council is expected to proceed safely. There is a sense of security that the FOMC has passed, and it is expected that the FOMC will be able to digest without turmoil.The Nikkei Stock Average has fallen sharply since March 10, so it is likely to be conscious of a sense of undervaluement.Currently, stocks with low PBR (price book value ratio) stocks While the stocks were actively looking for , high PER (Price Earnings Ratio) stocks have lagged behind, and we believe that semiconductor-related stocks will continue to be easy to buy. *Event Diary[M/DJP] * Economic indicator forecast[JP/FOR]
