The Nikkei 225 index expanded its gain to 9.7%, and the Tokyo Stock Exchange index expanded its gain to 10%.
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Odaily Odaily News: The Nikkei 225 index rose 9.7%, and the Topix index rose 10%. Japanese stocks fell into a bear market in the previous day's trading, falling to a key technical level, and today's surge was not unexpected. Hideyuki Ishiguro, chief strategist at Nomura Asset Management, said: Panic selling may be over, but today's price action may be like a roller coaster due to rising anxiety in global markets. The chart shows that the market is ripe for a rebound. The Toraku ratio (tracking the proportion of stocks that have risen and fallen in the past 25 days) has fallen to its lowest level since October 2023 and is approaching the 70 level (some traders see 70 as a sign of an improvement in the market). But even with a rebound, Japanese stocks may still be at bear market levels in the short term. "As Japanese stocks fell much more than Europe and the United States yesterday, market participants now realize that this correction was excessive," said Tomoo Kinoshita, global market strategist at Invesco Asset Management Japan. "However, this does not mean that the market correction is over. Weak economic indicators in the United States may still lead to further selling in the United States and other parts of the world, including Asia." (Jinshi)
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