【Fujitomi】Nikkei recoils, optimistic about Trump administration and French presidential election

The Nikkei Stock Average rebounded, finishing at 18,620.75 yen, up 190.26 yen (1.03%) from the previous day. The market remained firm as U.S. stocks rose and the yen’s strength paused. In the afternoon, the Tokyo stock market picked up a risk-on mood as the market heard that centrists Macron was favored in France, easing concerns over the July 23 presidential election and increasing risk-on sentiment. The previous day, with U.S. Secretary of the Treasury Mnuchin mentioning tax reform to be implemented within the year, buying confidence spread in the Tokyo market, with buying dominating across a wide range of stocks.

TOPIX continued to rise, finishing up 15.77 points (1.07%) at 1,488.58. The trading value on the Tokyo Stock Exchange First Section was 2 trillion 239.1 billion yen, and the number of shares traded was 1,862.44 million. The number of advancing issues on the First Section was 1,645, declining 288, and 83 unchanged.

Although the first round of the French presidential election will be held on the 23rd, the latest public opinion poll released by Elab shows Macron’s support at 24%, unchanged, Le Pen at 21.5% (a low since January), Fillon at 20%, and Mélenchon at 19%. Even if Le Pen progresses to the second round, she is projected to lose against either opponent.

https://www.fujitomi.co.jp/?p=14661

☆We would be grateful if you could refer to Twitter for market updates. https://twitter.com/fujitomi_8740