Buying is expected to lead, reflecting gains in US technology stocks. The Nikkei 225's expected range for today is around ¥67,000.
In US trading on the 30th, movements in technology stocks supported buying and are expected to be reflected in the Tokyo market's opening. The Dow Jones fell sharply from the previous day, while the Nasdaq Composite is expected to continue rising.
The Nikkei 225 closed the previous day after recovering to the ¥66,000 range, approaching a psychological milestone. The candlestick chart showed a bullish candle after a gap higher, while the 25-day moving average also turned upward, suggesting an improvement in market sentiment.
In the US market, higher oil prices and long-term interest rates prompted selling of economically sensitive stocks at times, while hyperscaler stocks such as Alphabet and Apple were bought. Micron Technology's results exceeded market expectations, and its share price rose in after-hours trading. The yen weakened to the ¥157 range against the dollar, potentially providing a tailwind for export-related stocks.
Today's expected range for the Nikkei 225 is ¥67,000 to ¥68,000. Reference levels on the upside are ¥68,000, ¥69,000, ¥69,608 and ¥70,000, while reference levels on the downside are ¥66,000, ¥65,296, ¥65,000 and ¥64,000.