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Today’s Equity Outlook = Weak, Choppy on US Economy Worries Ahead of BOJ Governor’s Conference | Reuters

TOKYO (Reuters) – The Tokyo stock market on Thursday is expected to see a weak run for the Nikkei stock average. The previous day’s US stock market is expected to start selling early, following the trend of continued economic worries and declines in the three major indexes. Today the announcement of the results of the Bank of Japan’s monetary policy meeting and the governor’s press conference are ahead, so choppy price movements are expected.

The expected range for the Nikkei average is 27,000-27,350 yen.

In the American stock market the day before, the three main indices fell for four consecutive days. Fears that aggressive interest rate hikes by the US Federal Reserve to curb inflation could lead to a recession pushed the index lower.

Today’s Nikkei stock average should be soft, following the downtrend in the US stock market. Yutaka Miura, senior technical analyst at Mizuho Securities, said, “The open should start with a decline as US equities fell.

In the US stock market the day before, high-tech stocks were weak due to rising US long-term interest rates, so Japanese stocks, mainly semiconductor-related stocks, are expected to be sold first. A strategist from a domestic securities company said, “The price has continued to fall until the day before, and it seems likely that buying cheap will support the market around the psychological 27,000 yen mark.”

After the end of the round, the Bank of Japan meeting and the governor’s press conference will be held, and “aggressive trading may be limited,” he said. With some reports that the joint government and Bank of Japan statement will be revised, the market is paying attention to Governor Kuroda’s remarks. Continuing from the previous day, it is believed that banking stocks are likely to be driven out by speculation.

Today, the US will release the housing start for November and the EU will release the current account balance for October.

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Previous business day’s closing price Year-to-date high price Year-to-date low price

Nikkei Average 27237.64 29388.16 24681.74

-289.48 2022/1/5 2022/3/9

Chicago Nikkei Stock Average Futures 27170 (denominated in yen)

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