【Fujitomi】Nikkei average hits fresh year-to-date low on intraday and close bases
The Nikkei Stock Average fell again, closing at 18,552.61 yen, down 195.26 yen (1.04%) from the previous day. It marked a near four-month low since December 7 last year. Geopolitical risks surrounding Syria and North Korea triggered a rapid decline in U.S. long-term interest rates and a stronger yen, leading to selling in export-related stocks. In addition, there was noticeable selling in the financial sector due to the decline in interest rates. On the eve of the 105th anniversary of the late Chairman Kim Il-sung’s birth on the 15th, various rumors are circulating, making it a situation where no forecast can be trusted. Russia, Syria, and Iran were reported by Tass to be holding a trilateral meeting on the 14th, and vigilance regarding the French presidential election remains strong.
TOPIX also fell, closing at 1,479.54, down 15.56 points (1.04%). The trading value on the TSE First Section was 2.2136 trillion yen, and the trading volume was 1.9247 billion shares. The number of declining stocks on the First Section was 1,722, rising stocks 221, and unchanged 70.
Nikkei futures declined to the lowest level of the year on both intraday and settlement bases. They could not surpass the five-day moving average on the chart (16,872 yen), and the bear market continues. Assuming the yen appreciation pause, even if there is a rebound, the five-day moving average will be closely watched. The downside target to monitor is whether the December low (18,220 yen) will function as a support line.
