Today's stock outlook: Firm, supported by a stronger yen and higher US stocks.

August 30, 2024, 8:03 AM GMT+9 (excerpt)

In today's Tokyo stock market, the Nikkei average stock price is expected to have a solid performance. The strong economic indicators in the United States have led to a stronger dollar and weaker yen in the US market, supporting a more stable yen. The fact that the Dow Jones Industrial Average (.DJI) reached a new high the previous day is also expected to support investor sentiment.
On the other hand, there is a possibility that active trading may be restrained as we approach the weekend and the end of the month, making it unlikely for the Nikkei average to continue to rise.
The expected range for the Nikkei average is 38,200 yen to 38,500 yen.
In today's Japanese stock market, a solid performance is expected due to the stabilization of the yen's strength and the new high of the Dow Jones Industrial Average the previous day. The upward revision of the US GDP growth rate for the second quarter is also believed to support investor sentiment.
The dollar/yen exchange rate is currently hovering around the 144 yen level, with expectations that the slightly weaker yen will support the Japanese stock market and lead to a recovery. (Yasukazu Mori, Chief of the Investment Information Department, Okachi Securities)