TOKYO (Reuters) – The Nikkei Stock Average is expected to start with a buying margin in the Tokyo stock market today. Japanese stocks are likely to get off to a solid start, following the previous day’s gains in US stocks as worries over financial instability in Europe and the US eased. On the other hand, in the market, there is a view that profit taking will be easier before the new financial year, and selling pressure is expected to increase when the price approaches the psychological milestone of 28,000 yen. However, after the end of the trading cycle before the weekend, the mood is likely to spread and the price will move slightly gradually.
The expected range for the Nikkei Stock Average is 27,500 yen to 27,900 yen.
In the US stock market the previous day, all three major indexes rose. Technology stocks continued to be bought in, while regional bank stocks sold off as the Biden administration announced measures to strengthen regulation of mid-sized banks that could be operated without congressional approval. The Philadelphia Semiconductor Index hit a one-year high.
The Japanese stock market today is expected to start buying ahead, as the excessive warning of financial instability has eased and US stocks have risen. The Nikkei Stock Average is likely to rise to around 28,000 yen. However, Ichiyoshi Asset Management director Mitsunari Akino said, “Profit selling is likely before April and beyond, and selling is likely to intensify around 28,000 yen.”
It’s before the weekend, and with the US set to release its February Personal Income and Consumer Expenditure tonight, the market is likely to take a wait-and-see mood once the trading cycle comes to head
In terms of market trends, there was a strong sense of uncertainty about the future of the economy, particularly in the United States.
As for the main domestic schedule, March consumer prices in Tokyo wards (Ministry of Internal Affairs and Communications), February unemployment rate (Ministry of Internal Affairs and Communications), February job openings-to-applicants ratio (Ministry of Health, Labor and Welfare), February mining and manufacturing production flash report (Ministry of Economy, Trade and Industry) ) are published. Abroad, in China, March manufacturing PMI (National Bureau of Statistics) and March non-manufacturing PMI (National Bureau of Statistics) are published.
The previous business day’s closing price Highest price since last year Low price since last year
Nikkei Average 27782.93 29388.16 24681.74
-100.85 2022/01/0 2022/03/0
Chicago Nikkei Stock Average Futures 27940 (nominal yen)