Trading on the Tokyo Stock Exchange on the 4th is expected to be led by a rebound in semiconductor-related stocks, but price movements are likely to become volatile ahead of the counting of votes in the US midterm elections. The opening target range is said to be ¥62,500–¥64,000, with attention focused on an upside near ¥64,000 and a downside around ¥62,700.
Trading on the Tokyo Stock Exchange on the 4th is expected to begin with a rebound in semiconductor-related stocks leading the market. Price movements are expected to be volatile throughout both the morning and afternoon sessions as the results of the US midterm elections are counted.
In addition to a rebound in the US semiconductor stock index, reports indicated that AMD's data center revenue rose substantially year on year in its July-September earnings, while its October-December revenue forecast also exceeded market expectations. AMD shares are rebounding in after-hours trading.
Voting deadlines are approaching in states across the US midterm elections, and some market participants are looking to assess vote-counting information from the morning session and the reaction of US interest rates and foreign exchange markets. Attention is focused on an upside near ¥64,000 and a downside around ¥62,700.
Major domestic and overseas economic indicators and earnings scheduled for release on the 4th include Japan's monetary base and earnings announcements from Itochu, Mitsubishi Corporation, NTT and Mitsui & Co., among others. Overseas releases include the US ADP employment report, the US ISM Non-Manufacturing PMI and earnings announcements from European and US companies.