Today’s stock forecast = strong, good sentiment for US stocks

TOKYO (Reuters) – The Tokyo stock market today is expected to see a stronger run for the Nikkei Stock Average. Following the rise in US stocks the previous day, Japanese stocks are likely to start buying ahead. The Nikkei Stock Average future has remained at the 28,300 yen level and is expected to rise to around the same level. However, as the US market is closed today, it is likely that the markets will struggle after the buying cycle. With the dollar/yen exchange rate rising slightly, some speculated that the rise in Japanese stocks would not be that big.

The expected range for the Nikkei Stock Average is 28,100 yen to 28,400 yen.

In the US stock market on the previous day, the three major indexes rose slightly. In the minutes of the US Federal Open Market Committee (FOMC) meeting released today, a “substantial majority” of policymakers agreed that slowing rate increases “would soon be appropriate.” As it turned out, buying prevailed.

Today’s Japanese stock market is expected to start with a positive buying lead on the rise in US stock prices. The current Nikkei Stock Average future is hovering around 28,300 yen and is expected to rise to around the same level.

Yutaka Miura, senior technical analyst at Mizuho Securities, said of the FOMC meeting minutes, “Since the slowdown in interest rate increases has been the focus of the market, the minutes are likely to be bought today.” ‘

Yesterday, the US long-term interest rate fell to the high level of 3.6% in the US market, and the yen has continued to appreciate against the dollar. Mr Miura noted that although the Nikkei Stock Average was firm, “I don’t think the rise in Japanese stocks will be that big as the Yen continues to appreciate against the dollar.”

In addition, the number of market participants is expected to decrease today as the rice market is closed for Thanksgiving, and after the completion of the buying round, the market will be in a wait-and-see mood.

In terms of the main timetable, in Japan, the review of the economic trends index (Cabinet Office) and the monthly economic report are expected to be released in September. Abroad, central banks such as Sweden and Turkey are set to announce interest rates.

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 28115.74 29388.16 24681.74

+170.95 2022/01/0 2022/03/0

5 9

Chicago Nikkei Stock Average Futures 28345 (Yen denominated)

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.