2023-06-16 05:50:00
TOKYO (Archyde.com) – The Tokyo stock market is expected to consolidate at the 33,000 yen level next week. Japanese stocks are expected to continue to move sideways in the absence of any notable new factors next week after passing the central bank event in Japan and the US. On the other hand, the difference in the policy stances of the Bank of Japan and the central banks overseas has become clear again, so it is expected that the yen will continue to depreciate, which is likely to support Japanese stocks.
There are skeptical views about the prospect of raising interest rates twice this year, which was announced at the last US Federal Open Market Committee (FOMC) meeting, and attention is paid to the remarks of important figures such as Chairman Powell of the US Federal Reserve Board (FRB). get together.
The expected range for the Nikkei Stock Average is 32,800-33,800 yen.
“While Japanese stocks are rising at a rapid pace, the Nikkei Stock Average is likely to consolidate at the 33,000 yen level after passing the central bank event in Japan and the United States for the time being. If Fed Chairman Jerome Powell shows a hawkish stance on interest rate hikes, it will weigh on Japanese stocks as U.S. stocks fall. Due to differences in the policy stances of foreign central banks, the yen tends to depreciate, and I believe that the movement of the dollar/yen will support stock prices.”
“In terms of trends, there is a possibility that high-tech stocks such as semiconductor-related stocks, which have been bought in anticipation so far, will be profit-taking. On the other hand, compared to the United States, the domestic economy is considered to be solid, and it is a cyclical trend. Among them, domestic demand stocks are likely to be targeted.”
“The gap between the monetary policy stances of Japan and the United States has become clear, and it can be said that the yen is likely to weaken. Japanese stock prices are likely to move steadily against the background of the yen’s depreciation.However, stock prices have risen so far. In addition to the speed of the exchange rate, the dollar/yen pair is currently at the 140 yen level, so a rapid depreciation of the yen is unlikely, and stock prices are unlikely to rise steadily.”
“At the previous US FOMC meeting, two interest rate hikes were expected by the end of the year. If hawkish comments were to be made, US interest rates would rise and US tech stocks would fall. There is a need to”
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