Tokyo stocks are expected to trade firmly on the 17th, with export-related shares likely to be bought amid trends in U.S. stocks and a weaker yen.
The expected range for the Tokyo market on the 17th is ¥63,800 to ¥64,400. In U.S. trading on the 16th, the Dow and Nasdaq fell for a third consecutive day, while the SOX index extended its gains, and buying interest is expected to focus first on semiconductor stocks. The yen weakened to the lower ¥156 range against the dollar, and some export-related shares, including automakers, may respond.
ADRs for Nippon Steel, Furukawa Electric and Sumitomo Electric, among others, were higher on a yen-converted basis than their 16th closing prices. The yen-denominated settlement price for Chicago Nikkei 225 futures was also higher than the previous day's level.