Tokyo stocks seen swayed by trade developments this week
TOKYO (Jiji Press) — Developments in U.S.-China trade talks are expected to strongly influence the moves of Tokyo stocks this week, analysts and brokers said.
Last week, the key 225-issue Nikkei average rose 181.03 points, or 0.78%, to 23,293.91, after optimism for progress in the trade talks was fueled by comments from both sides that they are close to a phase-one deal.
This week, the Nikkei is expected to move mainly between 23,150 and 23,700, the analysts and brokers said.
Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management Co., warned that the Nikkei may fall if there is no further progress in the trade talks, as market players will become increasingly worried that the negotiations are not going well.
On the other hand, Ichikawa said that the Nikkei may rise “if there is any news indicating progress in the talks,” including news that the United States will delay another round of tariffs on Chinese goods scheduled to take effect on Dec. 15.
Meanwhile, Yutaka Miura, senior technical analyst at Mizuho Securities Co., said that market players will also focus on U.S. economic indicators, including the Institute for Supply Management’s manufacturing index for November, due out Monday.
https://the-japan-news.com/news/article/0006197630?fp=06c0e4566e19f302a9374d6be3d2a6a7
