The Tokyo stock market on the 7th is expected to move sideways after buying leads in the morning. The closure of U.S. markets for Labor Day and limited foreign-exchange movement are expected to reinforce a wait-and-see stance.
The outlook for the Tokyo market on the 7th is for related stocks to potentially support the indices in the morning, helped by gains in U.S. semiconductor stocks, although renewed concerns over interest-rate hikes are expected to limit the upside. With U.S. markets also closed, the market is expected to be range-bound after an initial buying-led move. The expected range is the upper ¥64,000s to around ¥66,000. The dollar is expected to remain in the low ¥156s and the euro in the mid-¥181s, with limited movement.
ADRs were generally higher in yen terms at the end of the previous week, with Kioxia, Fujikura and Advantest performing firmly against their previous closing prices. The yen-denominated settlement price for Chicago Nikkei futures was ¥65,830, up ¥810 from the previous day, and the performance of related indicators is attracting market attention.