[Tokyo 14th Archyde.com]–The Nikkei Stock Average is expected to weaken in the Tokyo stock market today. The June US Consumer Price Index (CPI) released yesterday showed stronger than expected growth, with some speculating that the Federal Reserve will raise rates by 100 basis points (bp). .. Under these circumstances, concerns regarding a global economic slowdown are expected to continue to weigh on the market, and today’s Japanese stock market is wary of downside risks.
The expected range of the Nikkei average is 26,100 yen to 26,500 yen.
In the US stock market the day before, all three major indexes fell. With the CPI index rising higher than expected in June, there are speculations that the Fed will raise rates by 100bp at this month’s meeting. As these observations were exhausted, stock prices became volatile.
The June CPI rose 9.1% year-on-year, accelerating from a 8.6% rise in May, the largest increase in more than 40 years since November 1981. Soaring gasoline and food prices had an impact.
It is expected that the Japanese stock market will be weak today, and it is difficult to buy aggressively. Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management, points out that Nikkei average futures have been moving around yesterday’s closing price, so “it is unlikely that they will be sold significantly in the early stages.” On the other hand, US stock futures have been weak, and if the rate of decline is widened during trading hours, the Nikkei average may fall to the 26,100 yen level.
Regarding the results of the US CPI, Mr. Ichikawa said that inflation growth might have settled down before the index was released, but “actually, it justified a significant rate hike (by the Fed).” I talked to him. With upward pressure on US interest rates smoldering, large growth stocks are at risk of weakening, which is likely to be a factor pushing down the market.
According to the main schedule, in Japan, the May Mining and Industry Production Confirmation Report (Ministry of Economy, Trade and Industry) will be announced, and FAST RETAILING will announce the financial results. Overseas, the number of new unemployment insurance applications (Ministry of Labor) and the June Wholesale Price Index (Ministry of Labor) are scheduled to be announced in the United States, and the director of the US FRB, Waller, will give a lecture.
Previous business day closing price Year-to-date high price Year-to-date low
Nikkei 225 26478.77 29388.16 24681.74
+142.11 2022/01/0 2022/03/0
5 9
Chicago Nikkei Average Futures Limit 26485 (yen denominated)
