TOKYO (Reuters) – Today’s Tokyo stock market expects the Nikkei 225 Stock Average to remain firm. The Japanese stock market is expected to start with buying ahead, following the trend of the three major indexes all rising in the US market the day before. Tech-related stocks are expected to remain firm as the Nasdaq Composite is relatively bought. However, the Nikkei average has risen to the highest level in about a year and a half, and there is also a sense of short-term overheating, so profit-taking selling is likely to occur after the buying cycle.
The expected range for the Nikkei average is 29,650 yen to 29,900 yen.
On the previous day, all three major US indexes rose. However, while negotiations over raising the US federal debt ceiling continued, concerns about a slowdown in the US economy increased due to deterioration in manufacturing indicators, and the increase was limited to a small increase.
Today’s Japanese stock market is expected to start in positive territory in the form of a favorable impression of the rise in US stocks. With the Nasdaq Composite and the Philadelphia Semiconductor Index (SOX Index) rising, tech stocks are likely to perform well. With China’s retail sales and industrial production figures scheduled to be announced during trading hours, investors are expected to look for related stocks such as machinery stocks if the results are favorable.
However, the Nikkei average has risen to the highest level in about a year and a half with three consecutive rises until the day before, and it seems that there will be a scene where profit-taking selling will be pushed after the buying cycle. Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management, said, “In addition to concerns over the US debt ceiling problem not receding, the US economic indicators announced the day before were not good, which weighed on the market. It is possible,” he said. It is said that the company’s financial results have been completed and there are few new materials, so it is likely that the development will gradually slow down.
In the main schedule, April retail sales (Department of Commerce) and April industrial production (FRB) are scheduled to be announced in the US.
Closing price of the previous business day High price since the beginning of the year Low price since the beginning of the year
Nikkei Average 29626.34 29629.47 25661.89
+238.04 2023/05/1 2023/01/0
5 4
Chicago Nikkei Stock Average Futures 29870 (Yen denominated)
2023-05-15 22:04:00
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