Good morning to all MOOMOO users! Here is a summary of the morning market opening. Thank you.
Market Overview
In today's Tokyo stock market, selling was predominant. The Nikkei average dropped by 183.25 yen to 36,606.78 yen, while the Tokyo Stock Price Index (TOPIX) started at 2,691.12, down 7.24 points. The significant declines of the three major US indices (Dow Inc, Nasdaq, S&P 500) in yesterday's US stock market weighed on stock prices in Tokyo. Furthermore, uncertainties related to Trump tariffs, concerns about a US economic recession, geopolitical risks, and expectations of additional interest rate hikes by the Bank of Japan, along with reports of the Prime Minister's office distributing gift vouchers during a dinner with House of Representatives members, heightened caution among investors. On the other hand, despite the declines in major indices in yesterday's US stock market, the yen exchanged retained stability in the foreign exchange market, and US long-term interest rates showed a downward trend, providing a sense of reassurance in the Tokyo market. Additionally, since results of the first round of the spring labor negotiations are to be announced today, there are hopes for a positive cycle in the Japanese economy.