[Tokyo 9th Archyde.com]–The Nikkei Stock Average is expected to fall back in today’s Tokyo stock market. Profit-taking sales are expected to accelerate as the US stock market weakens over the weekend and the yen weakens. This week, the consumer price index (CPI) in April in the United States and the financial results of major domestic companies are scheduled to be announced, and the wait-and-see mood is likely to increase after the sales cycle.
The expected range of the Nikkei average is 26,500 yen to 26,900 yen.
In the US stock market on the 6th of the weekend, the three major stock indexes continued to fall, and the Nasdaq Composite hit a new low every day. Concerns continued that the Federal Reserve would be forced to raise rates even more aggressively to curb inflation.
According to April employment statistics, the number of non-farm payrolls increased by 428,000 from the previous month, surpassing market expectations.
The dollar / yen pair in the morning was in the 130.60 yen range, almost flat from 3:00 pm on the 6th of the weekend. Chicago’s Nikkei average futures June contract (yen denominated) liquidation price is 26,885 yen, down from the spot closing price on the 6th.
There is a strong view that profit-taking sales will intensify in the Tokyo market at the beginning of the week, centering on high-tech stocks and export-related stocks, which have a Nikkei average value, following the decline in the US Nasdaq and the weakening of the yen.
In the market, “Unfortunately, the external environment did not improve during Golden Week, such as the tightening of sanctions on the Russian government. It is still early to return to a full-scale upward trend (stock price) due to concerns about tightening US monetary policy.” The voice of the company) is heard. With the announcement of financial results of major companies and the US CPI in April, the mood for buyers is likely to increase.
In today’s main schedule, the agenda of the monetary policy decision meeting (Bank of Japan) for March 17-18 will be announced in Japan, and NYK Line and Maruha Nichiro will announce the corporate financial results. April trade statistics will be released in China. Hong Kong market is closed.
Previous business day closing price Year-to-date high price Year-to-date low
Nikkei 225 27003.56 29388.16 24681.74
+185.03 January 5, 2022 March 9, 2022
Chicago Nikkei Average Futures Limit 26885 (yen denominated)