Today’s stock outlook = Buying ahead, caution on US debt ceiling problem eased Post-bubble high price | Reuters

2023-05-18 22:13:00

[TOKYO (Archyde.com)]- Today’s Tokyo stock market is expected to lead the Nikkei Stock Average. In the US market, stock prices rose as excessive caution regarding the debt ceiling problem eased, and the dollar/yen exchange rate continued to depreciate. On the other hand, there is also a sense of overheating, and profit-taking selling is likely to hold down the top price following the end of the cycle.

The expected range for the Nikkei average is 30,500-31,000 yen.

US stocks closed higher. Concerns over prolonged monetary tightening were smoldering, while optimism spread that a deal on the debt ceiling might be reached within days, and US retail giant Walmart raised its full-year forecasts. rice field.

On the Nikkei Stock Average, in addition to rising US stock prices, the dollar/yen pair is depreciating to the 138 yen level, and is expected to lead the way in buying. The 3.1% rise in the US Philadelphia Semiconductor Index (SOX Index) will support semiconductor-related stocks, which have a large contribution to the index.

The market commented, “While the US business sentiment is not good, domestic demand is strong, and Japanese stocks are favored. Basically, it’s risk-on,” said Mitsunari Akino, director of Ichiyoshi Asset Management.

Stock prices have risen at a rapid pace so far, and the Nikkei Stock Average’s upward deviation rate from the 25-day moving average line has expanded to 5.74%, indicating a sense of overheating. After a round of buying, profit-taking selling is likely to occur.

In addition to the G7 Hiroshima Summit (until 21st) being held today, there will be an announcement of the nationwide consumer price index (CPI) for April, as well as earnings announcements by non-life insurance companies such as Tokio Marine Holdings. In the United States, Federal Reserve Chairman Jerome Powell and several Fed officials are scheduled to speak.

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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 30573.93 30667.13 25661.89

+480.34 2023/05/1 2023/01/0

8 4

Chicago Nikkei Stock Average Futures 30905 (Yen denominated)

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#Todays #stock #outlook #Buying #ahead #caution #debt #ceiling #problem #eased #Postbubble #high #price #Archyde.com

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