The Nikkei 225 remained firm in positive territory. The focus is on the expected afternoon consolidation near the highs and its approach toward the 75-day moving average around ¥66,000.
The Nikkei 225 is expected to consolidate near the highs in the afternoon, having widened its gain from 647.32 points at the open during the morning session. The index is approaching its 75-day moving average around ¥66,000, making whether it can clearly break above that level a key focus.
In the U.S. market, the partial restoration of a major pipeline in Saudi Arabia led to lower oil prices, while comments from FOMC officials supporting additional rate hikes pushed long-term yields higher. Elevated U.S. long-term yields in overseas markets are also expected to weigh on investor sentiment at times.
Some investors are reportedly holding back from aggressive buying as they await the August PCE deflator and Micron Technology's results for the June-August quarter, both due tonight.