The focus for the Nikkei Average next week will be whether it can hold around ¥65,000. Movements in long-term U.S. interest rates, NVIDIA earnings and the Jackson Hole conference are expected to determine the market’s direction.
The Nikkei Average was trading around ¥66,000 on 21 August, with a range of ¥64,500 to ¥68,500 expected next week. Following the sharp rise the previous week, movements in long-term U.S. interest rates have weighed on share prices, and the selling of AI and semiconductor-related stocks is expected to continue.
The biggest focus next week will be NVIDIA earnings and the Jackson Hole conference. Whether NVIDIA beats market expectations could influence the momentum of AI-related stocks. The conference will be held from 27 to 29 August, and signals on the Federal Reserve’s monetary policy could affect interest-rate movements.
Movements in long-term U.S. interest rates remain important. Concerns over higher rates persist amid fiscal uncertainty and rising oil prices, potentially keeping growth stocks under pressure. As Japan’s consumer prices continue to rise, caution is also spreading over the outlook for the Bank of Japan’s monetary policy.
Concerns that personal consumption in Japan and the United States may slow, along with rising prices, could affect corporate earnings. Whether the Nikkei Average can hold around ¥65,000 is therefore expected to become an important focus again next week.