The Tokyo stock market on the 24th is expected to rise for the fourth consecutive day. US semiconductor maker Nvidia, whose demand is growing for artificial intelligence (AI), announced sales forecasts early in the morning of Japan time that surpassed market expectations. In the Japanese market as well, there is likely to be widespread buying of related stocks such as electrical machinery and precision equipment.
The settlement price of the Chicago Futures Market (CME) Nikkei 225 futures (yen-denominated) is 31,995 yen, which is 25 yen higher than the closing price of the Osaka Exchange (31,970 yen). Bond yields fell 13 basis points to 4.19%
Takashi Ito, senior strategist at Nomura Securities, pointed out that tech stocks with a high contribution to the Nikkei Stock Average are likely to be bought after Nvidia’s results are favorable.
PMIs (Purchasing Managers’ Indexes) in the United States and Europe were generally lower than market expectations, and interest rates fell sharply on speculation that interest rate hikes would be halted. With interest rates falling, growth stocks such as tech tend to look cheap. Mr. Ito said the receding speculation of further interest rate hikes in the US and Europe would support the overall Japanese stock market.
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2023-08-23 22:50:00
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