[TOKYO (Archyde.com)]- Today’s Tokyo stock market is expected to have a heavy topside for the Nikkei Stock Average. The US market on the previous day ended trading with major stock indices rising, but there was a deep-rooted sense of caution over financial system instability, resulting in violent price movements. The Japanese stock market is expected to lead the way in buying, but the appreciation of the yen is also weighing on the exchange rate, and it is likely that there will be little movement after the round of trading. On the other hand, semiconductor-related stocks are expected to remain firm due to the rise in US high-tech stocks.
The expected range for the Nikkei Stock Average is 27,200 yen to 27,500 yen.
On the previous day, the three major US indices all ended trading higher. Relief spread when Treasury Secretary Yellen told a House hearing that she would take additional steps to protect deposits. In particular, the Nasdaq Composite, which has a high percentage of high-tech stocks, rose sharply, so high-tech and semiconductor-related stocks are likely to be sought in the Tokyo market as well. On the other hand, the appreciation of the yen is expected to weigh on export-related stocks such as automobiles. Yugo Tsuboi, senior strategist at Daiwa Securities, pointed out, “Because US interest rates are falling, it’s easy to look for growth stocks (growth stocks).” With the Philadelphia Semiconductor Stock Index (SOX) rising sharply the day before, he predicted that semiconductor-related stocks would drive the Japanese stock market. However, as the weekend is approaching and new materials are scarce, “after the round of trading, prices are likely to move in a small range,” said Tsuboi.
Today, the national consumer price index (CPI) for February will be released in Japan, while the durable goods orders for February and manufacturing PMI (preliminary figures) for March will be released in the United States.
Closing price of the previous business day Highest price since last year Low price since last year
Nikkei Average 27419.61 28734.79 25661.89
-47.00 2023/3/9 2023/1/4
Chicago Nikkei Stock Average Futures 27075 (Yen denominated)