Stock forecast today = back and forth, tug of war between US performance concerns and domestic economic recovery | Reuters

TOKYO (Reuters) – The Nikkei Stock Average is expected to go up and down in the Tokyo stock market today. It is believed that this will take over the flow of falling stock prices in the United States due to the disappointment of sluggish corporate earnings. On the other hand, speculation about positive factors unique to Japan such as economic recovery continues, and the downside is considered limited. It is said that it will be easy to wait and see as domestic corporate earnings are about to peak and the Bank of Japan’s monetary policy meeting is scheduled for next week.

The expected range for the Nikkei Stock Average is 28,500 yen to 28,700 yen.

The day before, the US stock market ended with a drop after the financial results of the electric car (EV) giant Tesla and the telecommunications giant AT&T were slow. As financial results season gets into full swing, the slowdown in demand and the drop in corporate earnings have been confirmed, and there is believed to be little incentive to buy stocks.

The Nikkei Stock Average is expected to lead the sell-off in the form of disgust at the drop in US stock prices. A strategist at a domestic securities firm said in the market that it is difficult to buy stocks that are sensitive to economic conditions. The dollar/yen pair is in the low range of 134 yen, and is likely to weigh on the market as the Yen is trading higher than during the previous day’s trading hours.

On the other hand, the robustness of the disadvantage is also conscious. In the market, “US stocks are correcting, but Japanese stocks have a strong atmosphere unlike the rest of the world. Director).

Expectations such as the resumption of the domestic economy, the recovery of inbound tourists, the effects of the Tokyo Stock Exchange’s request for improvements to low PBR companies, policy expectations, and reassessment by foreign players are expected to underpin the stock market.

Today in Japan, nationwide consumer prices for March will be announced, and Rakuten Bank will make an initial public offering (IPO). Abroad, the Eurozone and the US will publish PMIs for the manufacturing and service sectors in April.

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 28657.57 28734.79 25661.89

+50.81 2023/03/0 2023/01/0

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Chicago Nikkei Stock Average Futures 28605 (Yen denominated)