The Nikkei average is expected to continue trading around the morning closing level in the afternoon session. Reports indicate that gains have narrowed from the morning session, with selling on rallies becoming a concern.
The Nikkei average is expected to continue trading around the morning closing level in the afternoon session, with gains narrowing from the ¥399.17 increase at the open. The market is focused on the lack of momentum in the rebound, and the index is described as being well below its 75-day moving average.
Market participants expect selling on rallies to emerge readily, and the Nikkei average is forecast to remain in the ¥66,000 range. The article did not identify specific stocks or provide a forecast for future price movements, but conveyed the tone of intraday trading.
As an afternoon-session investment strategy, the report points to the possibility that gains will remain limited even when buybacks lead the market. Investors will be watching for signs of a weak rebound and movements around the 75-day moving average.