[Tokyo 11th Reuters]–The Nikkei Stock Average is expected to move up and down in the Tokyo stock market today. The trend of lower stock prices and rising long-term interest rates after the September employment statistics were released in the US market last weekend is likely to weigh on Japanese stocks. On the other hand, it is expected that speculation about strong corporate performance will support the market ahead of the domestic settlement season from the latter half of October.
The expected range of the Nikkei average is 27,800 yen to 28,300 yen.
In the US stock market on the 8th last weekend, the three major indexes fell. The US employment data for September was disappointing. However, the US long-term interest rate has risen, with the predominant view that there is no change in the observation that the US Federal Reserve will start reducing quantitative easing (tapering) by the end of the year.
According to employment statistics, the number of non-farm payrolls increased by 194,000 from the previous month. The increase was only modest for the first time in nine months, well below the market expectation of 500,000. On the other hand, the unemployment rate was 4.8%, an improvement from 5.2% in August, the lowest level in 18 months. Average hourly wage growth accelerated, rising 0.6% month-on-month.
In the Tokyo market, the Nikkei average is likely to be aware of the weight of the upside due to rising interest rates and falling stock prices in the US market. Bank stocks are expected to be strong due to rising interest rates, and mining stocks are expected to be strong due to high crude oil prices, while high-tech stocks, such as those related to semiconductors, are expected to weaken and weigh on the index.
Meanwhile, last weekend, Yaskawa Electric announced an upward revision of its full-year earnings forecast. Since the company has settled in February, it is regarded as a leading indicator for the group of companies that settled in March, when the announcement of financial results will begin in earnest from the latter half of October. ..
In the market, “We think that overseas sales have run its course by last week, and Japanese stocks have bottomed out in the short term. It is hard to imagine that sales will increase before the election, so basically we are looking upwards. It looks good ”(Mitsunari Akino, Senior Executive Officer of Ichiyoshi Asset Management).
However, it is said that it is necessary to wait for the settlement of accounts in order to incorporate the full-scale corporate performance, and “I would like to first confirm how the settlement of accounts of Yaskawa Electric, which is a pioneer, is evaluated” (Mr. Akino). I was asked.
Previous business day closing price Year-to-date high price Year-to-date low
Nikkei average 28048.94 30795.78 26954.81
+370.73 September 14, 2021 August 20, 2021
Chicago Nikkei Average Futures Limit 28075 (yen denominated)