Tokyo stocks are expected to open higher on the 7th, with trading possibly turning range-bound in the afternoon. The dollar is in the ¥156 range, while US markets are expected to be closed for Labor Day.
Tokyo stocks on the 7th are expected to receive support from related stocks following gains in US semiconductor shares, although the sustainability of the rise remains uncertain. Concerns over further rate hikes in Japan and the US are expected to weigh increasingly on the upside. Market participants largely expect trading on the 7th to settle after an initial buying-led move.
The dollar is expected to move within the first half of the ¥56 range, while the euro is expected to remain around the middle of the ¥181 range. ADRs on Friday the 4th, converted into yen, were reportedly trading above the previous Tokyo closing prices for Kioxia, Fujikura and Advantest, among others.
The trading range on the 7th is expected to be broadly ¥65,300 to ¥66,000, while the previous Friday's close was ¥65,050.94. The yen-denominated settlement price for Chicago Nikkei 225 futures was ¥65,830, and US markets are expected to be closed.
The main domestic economic indicator due for release is the July coincident index. Overseas, the closure of US markets for Labor Day may act as a constraint on trading. Provided by Wealth Advisor.
The precise information source is identified as a specific news outlet, and the figures may change in future updates.