Buying is expected to lead the Tokyo market on the 28th against the backdrop of gains in U.S. stocks, while yen appreciation and buying ahead of the ex-rights date are expected to influence the market.
Tokyo stocks are expected to see buying lead the market on the 28th against the backdrop of gains in U.S. stocks. The expected range is ¥66,000 to ¥66,600, compared with the previous day’s close of ¥66,364.20.
Buying ahead of the ex-rights date for September fiscal-year-end issues is expected to provide support, as the final trading day with rights approaches. At the same time, the yen’s move toward appreciation could weigh on export-related stocks.
Uncertainty remains over the outlook for talks between the United States and Iran regarding the Strait of Hormuz, and trading is expected to become increasingly subdued. In Friday’s ADR trading, Nippon Steel, Advantest and ROHM were higher on a yen-converted basis, while the yen-denominated settlement price of Chicago Nikkei futures was up from the previous day.
Key economic indicators and events include Japan’s August services producer price index, the minutes of the Bank of Japan’s monetary policy meeting, and the final trading day with rights. The information is provided by a media outlet covering equity-related information.