Tokyo stocks are expected to remain weak on the 10th, with the impact of rising interest rates in the U.S. market and the performance of semiconductor stocks likely to influence the Nikkei 225.
Tokyo stocks are expected to weaken on the 10th from the previous day's closing level. The previous close was ¥65,142.78, while the expected range is ¥63,900 to ¥64,500. Following overseas markets, where rising interest rates were viewed negatively, selling is expected to lead trading in Tokyo.
However, semiconductor-related stocks remain firm and could support the Nikkei 225 depending on movements in the SOX Index and the Korea Composite Stock Price Index. The yen is expected to trade slightly weaker, at around ¥153.50 to the dollar and ¥178.50 to the euro, while the yen-converted ADR prices of Sumitomo Chemical, ENEOS and Mitsui Mining & Smelting, among others, are lower than their Tokyo closing prices on the 9th.
The yen-denominated settlement price for Chicago Nikkei 225 futures was ¥64,175, down ¥1,085 from the Osaka Exchange settlement price on the 9th. Domestic economic data due for release include weekly data on securities transactions with nonresidents, while Sekisui House is scheduled to announce its earnings. In the U.S., the PPI, initial jobless claims and existing home sales are also due.
Related information, including developments in U.S. equity markets, commodity markets and ADRs, is being reported as it becomes available. Investors are responsible for their own investment decisions.