TOPIX is expected to continue hitting record highs on consecutive days next week, supported by gains in US stocks, with an eighth straight advance potentially taking the index into the 4,200s. At the same time, US events including NVIDIA's earnings and the Jackson Hole symposium could influence market conditions.
The Nikkei Average rose sharply for a second straight session on the 14th, ending trading 405 points higher from the previous day at ¥68,713. It briefly rose by nearly ¥1,300, helped by gains in US stocks. Among individual stocks, Advantest was bought to a record high for the second straight day, while SoftBank Group and Kioxia Holdings rose.
Market attention has shifted to TOPIX's consecutive record highs. TOPIX rose for an eighth straight session that day, moving into the 4,200s for the first time. The trend of broadening gains beyond AI and semiconductor-related stocks continued.
In the US market, the Dow Jones Industrial Average and S&P 500 are also following the Nasdaq in a trend of updating their record highs. The market's reaction to US inflation indicators and the resilience of the economy are raising expectations for a Goldilocks market. The expected increase in the probability that interest rates will remain unchanged at the September FOMC meeting is also being viewed as a market positive.
Next week brings major events in late August. NVIDIA's earnings are scheduled for the 26th, followed by the Jackson Hole symposium from the 27th to the 29th, and speeches by Federal Reserve officials and other events could influence the market's direction. In Japan, GDP, machinery orders, inbound visitor numbers, trade statistics and CPI are due to be released.
The expected range for the Nikkei Average next week is said to be approximately ¥75.2 million–¥70,050, while market conditions could be affected depending on the results of overseas events.