Preview of tomorrow's (for us) Asian Mkts open
Tokyo stocks may see another bumpy week over U.S.-China trade spat.
Jiji Press TOKYO (Jiji Press) — Tokyo stocks may remain volatile this week amid thin trading ahead of Christmas.
Last week, the 225-issue Nikkei average on the Tokyo Stock Exchange fell 303.85 points, or 1.40 percent, to end at 21,374.83 on Friday.
Stocks suffered sell-offs from the outset of the week with the TOPIX index of all first-section issues hitting a year-to-date low on Tuesday, after tensions over the trade row between the world’s two largest economies grew on the arrest of the chief financial officer of Chinese information technology giant Huawei Technologies Co. earlier this month.
But the market bounced back amid rekindled hopes for progress in U.S.-China trade talks, following a comment by U.S. President Donald Trump and the release on bail of the Huawei CFO. However, both Nikkei and TOPIX fell sharply again on Friday.
This week, the Nikkei is expected to move between 20,500 and 22,000, analysts and brokers said.
Wild moves will likely continue, as the market would grow vulnerable to futures-led transactions amid declining trading volume ahead of Christmas, said Yoshihiko Tabei, chief analyst at Naito Securities Co.
It can hardly be predicted that the market will “bottom out” or “peak out,” Tabei added.
Yutaka Miura, senior technical analyst at Mizuho Securities Co., said he expects stocks to “move on a bearish note” amid uncertainties over the U.S.-China trade dispute and concerns over a possible slowdown in the global economy.
Investors are likely to keep reacting nervously to trade-related remarks by key persons, he noted.
The U.S. Federal Reserve’s two-day Federal Open Market Committee meeting from Tuesday will be one of the biggest events this week, brokers and analysts said.
“The Nikkei may fall further if the FOMC members’ outlooks on policy rates and the economy turn sharply bearish,” an official of a Japanese asset management firm said.Speech
http://the-japan-news.com/news/article/0005413726
wow!
holy shit! be a long time before I stepped on another one going through that.
that deserves something