Today’s stock forecast = strong appreciation, yen weighs on receding US inflation fears | Reuters

TOKYO (Reuters) – The Tokyo stock market today is expected to see a strong run for the Nikkei Stock Average. In the US market the previous day, the Tokyo market is expected to lead the buying as the three major indexes ended trading higher after economic indicators showed a slowdown in inflation. However, the fact that the dollar / yen exchange rate is changing slightly higher than during the previous day’s trading hours is likely to weigh on the index.

The expected range for the Nikkei Stock Average is 28,300 yen to 28,500 yen. The wholesale price index (PPI, final demand goods and services) published by the US Department of Labor the previous day fell 0.5% from the previous month, contrary to market expectations compiled by Reuters. Weekly initial jobless claims exceeded market expectations. All three major indexes rose more than 1%, confirming the view that the Federal Reserve’s aggressive rate hike cycle is coming to an end. In particular, the Nasdaq Composite, which has many high-tech stocks, rose almost 2%. Yugo Tsuboi, senior strategist at Daiwa Securities, said, “Since the US market is strong, we expect the Tokyo market to remain firm throughout the day. It is likely that demand-related domestic stocks such as property land and railways are strong. “a rice field. He believes that the relative trend towards Japan will be a tailwind, and that there is still room for the price to rise. In the United States, the announcement of the financial results of major financial institutions will begin today. Tsuboi said, “We are paying attention to see if the amount of allowance for doubtful accounts has suddenly increased compared to the previous settlement.” Takashimaya is expected to announce financial results in Japan today. In the United States, retail sales and industrial production for March and the University of Michigan Consumer Confidence Index for April will be released, as well as financial results from major financial companies such as Citigroup and JPMorgan Chase.

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 28156.97 28734.79 25661.89

+74.27 2023/3/9 2023/1/4

Chicago Nikkei Stock Average Futures 28395 (Yen denominated)