CME Nikkei 225 futures on the 23rd ended trading down ¥40 from the previous day at ¥62,640. Oil rose against the backdrop of heightened tensions in the Middle East, while futures were sold on declines in U.S. stocks, although buying in semiconductor stocks supported the downside.
In the market on the 23rd, Nikkei 225 futures (December contract) on the Chicago Mercantile Exchange ended trading down ¥40 from the previous day at ¥62,640. The move reflected the effects of rising crude oil futures and declines in U.S. equities, while also indicating that downside was limited.
The reported background was that heightened tensions in the Middle East pushed up oil prices, and the resulting rise in resource prices indirectly weighed on stock index futures. At the same time, buying in some sectors of the U.S. stock market was seen as having limited further declines in Nikkei 225 futures.
Buying in semiconductor stocks, including buybacks after earlier selling, was cited as a factor influencing the movement of Nikkei 225 futures. There was also a view that improving investor sentiment may have supported the firmness of the downside. Market participants were said to have seen only a limited reaction in trading toward the evening.
Looking ahead, developments in the oil market and U.S. stocks, as well as the latest developments in the Middle East, are expected to influence the direction of Nikkei 225 futures. Depending on subsequent developments, the risk of spillovers to the futures market may again come into focus.