The Nikkei Stock Average is expected to test a technical rebound this week, with buying likely to emerge on earnings announcements. Crude oil is testing higher levels amid supply concerns, with a move above $100 also in view.
The Nikkei Stock Average is expected to test a technical rebound this week from the sharp correction seen so far. Buying based on earnings results is anticipated, and this could help the market recover.
Earnings announcements are gradually getting into full swing in Japan and the US, and expectations for strong results are widely seen as likely to support the Nikkei. Earnings results are expected to be closely watched as a basis for selecting specific stocks and deciding whether to maintain long positions.
In the crude oil market, growing supply concerns are emerging as a factor, and crude oil prices are expected to test higher levels again. A move above $100 is also being considered as a target.