The Nikkei average is expected to trade between ¥65,000 and ¥66,000 today. With factors related to US market trends and the situation in the Middle East offsetting one another, the market is expected to move sideways amid a tug-of-war between buying and selling.
As market indicators for today, the Dow Jones Industrial Average fell $161.61 on the 24th, the Nasdaq Composite rose 3.34 points, and Nikkei 225 futures were trading ¥215 above the Osaka daytime session level. In the Tokyo market, buying was seen mainly in AI-related stocks, and the Nikkei average briefly recovered the ¥66,000 level, but gains narrowed toward the close against a backdrop including the upward trend in long-term interest rates.
US markets were mixed, while long-term interest rates hovering around 5.19% weighed on the market. Reports on the situation in the Middle East indicated that concerns over energy supplies had resurfaced, while prospects for progress in negotiations also provided support for the market at times.
Among related news during the day, reports said Oracle had notified an affiliated company that a force majeure clause would apply in connection with the development of a massive data center in New Mexico, unsettling data center-related stocks. Some market observers also expressed concern that the impact could spread to the Tokyo market.
Potential upside levels cited for today include the ¥66,000 threshold and the 75-day moving average at ¥66,614, while potential downside levels include ¥65,000 and ¥64,415. There have also been indications that selling to adjust positions could intensify.