Earnings announcements by major US companies will be the biggest focus next week. The Nikkei Stock Average ended this week’s trading at ¥65,324.29, down ¥3,706.63 from the previous weekend, while CXMT’s development of a new product was reported.
Earnings announcements by major US companies will be the key market focus next week. Against this backdrop, developments in overseas markets are expected to affect the outlook for Japanese stocks.
The Nikkei Stock Average ended this week’s trading at ¥65,324.29, down ¥3,706.63 from the previous weekend, extending its downward trend. As market sentiment deteriorated, investors moved to stay on the sidelines and adjust their positions.
China’s major memory-chip maker CXMT was reported to have made significant progress in developing a new product with higher memory capacity, attracting attention as a development that could affect semiconductor-related stocks.
In the US market the previous day, reports indicated that semiconductor-related stocks were moving toward intensifying competition. This was expected to affect Japanese stocks as well, reflecting developments in the US market.