Today’s stock outlook = strong, US economic soft landing speculation tailwind Interest in Toyota financial results | Reuters

2023-07-31 21:55:00

TOKYO (Archyde.com) – Today’s Tokyo stock market is expected to strengthen the Nikkei Stock Average. Rising US stocks on expectations of a soft landing in the US economy and a weaker yen trend will serve as tailwinds. After the buying cycle is over, profit-taking selling is expected to hold down the top price, and Toyota Motor’s financial results announcement is drawing attention.

The expected range for the Nikkei Stock Average is 33,200 yen to 33,500 yen.

The Nikkei Stock Average is expected to buy ahead in response to the rise in US stock prices and the yen’s depreciation in foreign exchange. “Even though stocks with poor financial results are likely to be sold individually, the overall trend of buying may continue,” said Ryuta Otsuka, a strategist at Toyo Securities.

The dollar/yen exchange rate fell to the lower half of 142 yen, which is expected to support export-related stocks. Toyota is scheduled to announce its financial results in the followingnoon today, and there is a possibility that the overall market will move following the announcement. On the other hand, the day before, TOPIX hit a new year-to-date high, and the Nikkei Stock Average is once once more in sight. After a round of buying, profit-taking selling is expected to hold down the top price.

The US stock market rose on strong corporate earnings and hopes of a soft landing for the US economy. In addition to the financial results of Amazon and Apple this week, the announcement of a series of US economic indicators, including employment statistics, has been refrained from active trading.

Today, the June unemployment rate and active job openings-to-applicants ratio will be announced in Japan. Corporate financial results will be announced by Toyota, Mitsubishi UFJ Financial Group, Mitsui & Co., etc. In the United States, the July ISM Manufacturing Index will be announced. Companies expected to report results include Advanced Micro Devices (AMD), Starbucks SBUX.O and Pfizer PFE.N.

Closing price of the previous business day High price since the beginning of the year Low price since the beginning of the year

Nikkei Average 33172.22 33772.89 25661.89

+412.99 2023/06/19 2023/01/04

Chicago Nikkei Stock Average Futures 33260 (Yen denominated)

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