TOKYO (Reuters) – Today’s Tokyo stock market is expected to see the Nikkei stock average struggle. While concerns about the US interest rate hike being prolonged are expected to curb the upside, value stocks and inbound-related stocks are likely to continue to be looked for, incorporating the easing of border measures.
The expected range for the Nikkei Stock Average is 27,200 yen to 27,600 yen.
The US stock market rebounded slightly. There was bargain buying after the previous week’s plunge. However, deep-rooted concerns about the extent and duration of future interest rate hikes have capped the stock price. According to durable goods orders statistics released by the US Department of Commerce in January, orders for core capital goods, which are considered a leading indicator of private capital investment, increased by 0.8% from the previous month, surpassing market expectations.
The Nikkei Stock Average is expected to lead to buying in response to the firm movement of US stocks. In addition to being expected to continue looking for value stocks, the new corona border measures are said to be easing from next month, and inbound related is also likely to attract interest. The rise in the US Nasdaq Composite, which has a high tech stock ratio, is likely to support high-tech stocks such as semiconductors and electronic parts.
On the other hand, it is not expected that there will be a big price movement amid concerns over the prolonged rise in US interest rates. “It’s easy to wait and see until the US Federal Open Market Committee (FOMC) meeting in March,” said Mitsunari Akino, director of Ichiyoshi Asset Management.
In Japan, there will be an announcement of the January Mining and Industrial Production Report, a hearing on the BOJ Deputy Governor Uchida Himino (House of Councillors), and an announcement of the February Consumer Confidence Index (Conference Board) in the United States.
Closing price of the previous business day Highest price since last year Low price since last year
Nikkei Average 27423.96 29388.16 24681.74
-29.52 2022/01/05 2022/03/09
Chicago Nikkei Stock Average Futures 27535 (Yen denominated)
