TOKYO (Reuters) – Today’s Tokyo stock market is expected to see a stronger run for the Nikkei Stock Average. In the US market, fears that the US Federal Open Market Committee (FOMC) will be a hawkish event due to the slowdown in the growth of employment costs have eased, and stocks have risen. It is also expected that the milestone 27,500 yen will be tested. After the trading round in the morning, the mood is expected to strengthen before the announcement of the results of the FOMC.
The expected range for the Nikkei Stock Average is 27,300 yen to 27,600 yen.
The U.S. stock market closed with three major stock indexes rebounding more than 1%. Ahead of the FOMC results announcement the next day, job cost growth slowed, prompting a sense of relief that the Federal Reserve’s aggressive interest rate hikes to curb inflation were showing an effect. The FOMC is expected to decide on a rate hike of 25 basis points (bp).
The Nikkei average is likely to lead to buying in response to the trend of high US stocks. The Nasdaq Composite, which has a high percentage of U.S. tech stocks, is rising, and it is expected to be supported mainly by semiconductor-related stocks. The psychological milestone of 27,500 yen is also within sight.
On the other hand, after the buying cycle is over, the speculation is likely to intensify. In the market, “When a milestone is passed, there will be items for sale. It won’t feel like it’s going to be a lot of things after the milestone. I think people will want to see the results of the FOMC after all,” said Ryuta Otsuka, a strategist at Toyo Securities. was asked.
A weak outlook has been shown in domestic semiconductor-related and electronic component corporate financial results, and there is also a sense of caution that it may become a factor to restrain the upside of related stocks. On the previous day, Lasertec revised its orders forecast downward, and TDK revised its earnings forecast downward.
In addition to the FOMC and Fed chairman’s conferences scheduled in the United States today, the ADP National Employment Report in January and the ISM Manufacturing Index in January will be released. In China, the January manufacturing PMI (Caixin) and the euro zone January consumer price index are announced.
Corporate financial results are announced by Hitachi, Keyence, and Nomura Holdings in Japan, and by Meta and T-Mobile in the United States.
Closing price of the previous business day Highest price since last year Low price since last year
Nikkei Average 27327.11 29388.16 24681.74
-0.39 2022/01/05 2022/03/09
Chicago Nikkei Stock Average Futures 27490 (Yen denominated)