The Tokyo stock market on the 14th is expected to shift into consolidation after a rebound. Buying may lead the market following the previous day’s sharp decline, but gains are expected to be limited because of a lack of market catalysts.
The Tokyo stock market on the 14th is expected to consolidate after a rebound. The Nikkei 225 closed at ¥67,777.52 on the 13th, and the projected range is ¥67,500–¥68,300. Buying may lead the market at times, but a wait-and-see mood is expected to spread once buying runs its course because of the lack of market catalysts. Attention will focus on the earnings announcement from ASML, the world’s largest semiconductor lithography equipment maker, ahead of its release in the afternoon session.
In foreign exchange, the dollar was in the lower ¥158 range against the yen and the euro in the lower ¥177 range, both little changed. ADRs of major U.S. indices on the 13th were mixed on a yen-converted basis, with Kioxia, Sumitomo Chemical and SoftBank Group trading higher than the previous day. The yen-denominated settlement price of Chicago Nikkei 225 futures was ¥68,205, up ¥245 from the previous day.
Domestic events scheduled include the September money stock release at 8:50, a 5-year Japanese government bond auction, a BOJ meeting to exchange views on market operations, and Ryohin Keikaku’s earnings announcement. Overseas events include the U.S. September consumer price index, China’s producer and consumer price indices, the Beige Book and European earnings announcements. ASML Holding’s earnings and earnings from major U.S. companies will also be important market events.