【Fujitomi】Nikkei Stock Average edges lower again; Tokyo Stock Exchange First Section’s Advance-Decline Ratio remains at a high level
The Nikkei stock average fell slightly for the second consecutive day, closing at 19,682.57 yen, down 4.27 yen (0.02%) from Friday. Tonight, U.S. markets are closed for Memorial Day, and London (Spring Bank Holiday) and mainland China markets (Dragon Boat Festival) are also closed, resulting in thinner overseas trading participation and a likely stalemate.
In the morning, North Korea’s missile launch had limited impact on both the foreign exchange and stock markets.
The Nikkei average ended trading below the 5-day moving average (19,707.76 yen, 29th close) for the second day in a row. The Tokyo Stock Exchange First Section’s advanced/decline ratio (25-day moving average) rose to the 140% range after peaking at 164% on the 24th last week, but it remains above 120%. A further drop to the 25-day moving average (19,518.05 yen, 29th close) could be expected, but there is strong demand for buying on pullbacks, which should keep downside limited.
TOPIX edged up slightly, closing up 0.79 points (0.05%) at 1,570.21. The Tokyo Stock Exchange First Section trading value was 1,792.8 billion yen, and the trading volume was 1,274.53 million shares. The number of declining issues on the First Section was 942, advancers 933, and unchanged 138.
