[TOKYO (Reuters)]- Today’s Tokyo stock market is expected to have a heavy topside for the Nikkei Stock Average. In the US market, stock prices are falling amid concerns over the long-term interest rate hike, which is likely to weigh on Japanese stocks. There are few clues about the future, and the price movement lacking direction is expected after the morning trading is completed.
The expected range for the Nikkei average is 27,300 yen to 27,500 yen.
The US stock market closed slightly lower. The mood of wanting to see if the Federal Reserve Board (FRB)’s high interest rate policy will last for a long time persisted, and the three major stock indexes all fell for the month. U.S. consumer confidence fell unexpectedly in February, while the home price index slowed in December 2022.
The Nikkei Stock Average is expected to lead the selling due to the decline in US stocks. However, there are few clues, and it is unlikely that a clear sense of direction will emerge in the market as a whole. The exchange rate is almost flat and there is no big movement in the US interest rate, so it is thought that cyclical shopping will be the main focus.
At the beginning of the month, amid concerns over the prolonged interest rate hikes in the United States and Europe and the economy, “I can’t see any positive buying factors, but there may be some buying associated with rebalancing.” (Sumitomo Mitsui DS Asset Management (Chief Market Strategist Masahiro Ichikawa).
Today, China will release the February manufacturing and non-manufacturing PMI and the February consumer price index (CPI). In the United States, there will be the release of the ISM Manufacturing Index in February and the financial results of Salesforce.
Closing price of the previous business day Highest price since last year Low price since last year
Nikkei Average 27445.56 29388.16 24681.74
+21.60 2022/01/05 2022/03/09
Chicago Nikkei Stock Average Futures 27425 (Yen denominated)
