Stock prices in Tokyo are rising, but the rise has reached its cap prior to the Fed’s meeting

Tokyo, July 27 (Xinhua)-Tech stocks closed at high prices on Wednesday due to advances in technology, but price increases were carefully restricted ahead of possible rate hikes by the US Federal Reserve. rice field.

The Nikkei Stock Average of 225 stocks rose 60.54 points (0.22%) from Tuesday, closing at 27,715.75.

Meanwhile, the broader Tokyo Stock Price Index rose 2.58 points (0.13 percent), ending at 1,945.75.

Traders here are under pressure from the beginning following Wall Street’s overnight slump, and investors are struck by poor consumer confidence data in addition to continued concerns about the future health of the U.S. economy. He said it rattled.

They said investors would take a bold move at the end of the two-day policy-making meeting later Wednesday, before the Fed could announce a 0.75 percentage point hike to combat inflation. He added that he had refrained.

“It’s not a big surprise from the Federal Open Market Committee (FOMC), but investors just want to see the results before making a bet,” said Takatoshi Itoshima, a strategist at Picte Asset Management Japan.

“After this big event, investors will look into the details of each company’s outlook and buy shares selectively,” Itoshima added.

Meanwhile, Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., Ltd., said investors are hoping for further rate hikes from the FRB amid inflation and concerns over the US labor market.

Masahiro Ichikawa, Chief Market Strategist at Sumitomo Mitsui DS Asset Management, said, “In both the stock and currency markets, market participants are pacing rate hikes from September, along with the FRB’s view of US inflation and labor market conditions. I was waiting for a hint. ” , Said.

By the end of the day, land, shipping and pharmaceutical issues were the most common issues, surpassing the increase from 1,078 to 683 in the prime market, and 77 ended the day unchanged.

However, Tokyo Electron’s rise of 3.1% and Advantest’s rise of 2.3% favored heavily weighted chip-oriented stocks.

Meanwhile, Screen Holdings ended the day with a 2.5% increase.

However, Nikkei’s heavyweight Fast Retailing, the operator of UNIQLO’s clothing chain, entered the market, dropping 1.4% at the closing price.

Camera maker Canon was another resistance that fell 1.0% after reporting a worse-than-expected net profit outlook for the year to December.

Wednesday’s prime market traded 925.21 million shares, up from 869.89 million shares on Tuesday.

Sales on the third trading day of the week were 2,372,880 million yen (US $ 17,330 million).

Stock prices in Tokyo are rising, but the rise has reached its cap prior to the Fed’s meeting

Source link Stock prices in Tokyo are rising, but the rise has reached its cap prior to the Fed’s meeting

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