The Tokyo stock market is expected to continue rising on the 24th. The increase in interest rates in the United States, which had been on an upward trend due to inflation concerns, has recently come to an end, and investor sentiment will continue to improve. Tesla’s stock price, which announced its financial results after the US market closed, rose sharply in after-hours trading, easing domestic semiconductor-related stocks, which are closely linked to higher- major US technology, see purchases.
- The average Nikkei futures settlement price (denominated yen) on the Chicago Futures Market (CME) was 37,915 yen, 365 yen higher than the closing price of regular trading on the Osaka Exchange (37,550 yen).
- The US S&P 500 stock index rose 1.2%
- The US 10-year bond yield fell 1 basis point to 4.60%
The views of market participants
Mitsunari Akino, President of Ichiyoshi Asset Management
- The market today is in a downward trend. I believe that the Nikkei Stock Average will rise by around 300 yen.
- However, with the upcoming US Personal Consumption Expenditure (PCE) price index, the Bank of Japan monetary policy meeting, and next week’s US employment statistics, strong momentum remains to be seen, and the upside is likely to be heavy.
- Semiconductor stocks suffered a complete momentum crash, and there are still lingering effects. There are probably people who want to buy it because of the reasonable price, but I don’t think the price has dropped enough yet.
- Nidek’s financial results are generally within expectations. However, the stock price is quite low, and there is a possibility that there will be buybacks while it will be difficult to buy other stocks.
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