The Nikkei average ended last week at ¥68,309, gaining approximately ¥4,300 over the week. The possibility of reaching the ¥70,000 range is in focus this week, with events including the convening of an extraordinary Diet session, U.S. economic data and the mini SQ settlement ahead.
The Nikkei average staged a major turnaround last week after initially coming under selling pressure, ending trading at ¥68,309. It was up approximately ¥1,945 from the previous Friday, marking a third consecutive weekly rise, with the gain over that period reaching approximately ¥4,300.
This week, attention is turning to further gains as the Nikkei average broke above its 75-day moving average and views spread that it had cleared its upper resistance line. The MACD also moved above the zero line. The movement of the Bollinger Bands is also attracting attention.
The possibility of reaching the ¥70,000 range is being discussed, and the week is packed with events including the convening of an extraordinary Diet session, key U.S. economic indicators, earnings releases from domestic consumer-related companies and the mini SQ settlement. Alongside the Nikkei average, attention is also focused on movements in TOPIX and stock selection among individual issues.