The Nikkei Stock Average is trading at 63498.61 (-512.73), and is expected to move sideways in the afternoon session. With declines in high-priced stocks weighing on the market, the upside is expected to remain heavy.
The Nikkei Stock Average is expected to move sideways around the level at the morning close during the afternoon session. Although buying back has spread across a broad range of advancing issues on the TSE Prime Market, active buying is expected to remain limited amid a lack of market catalysts.
There is a view that concerns over a slowdown in AI development and persistently high crude oil futures will weigh on investor sentiment. Central bank events scheduled for this week could also reinforce the market-wide wait-and-see mood.
From a technical perspective, the Nikkei Stock Average has again touched its 26-week moving average. Attention is focused on whether the market's lingering upside heaviness will ease as the correction progresses.