This week's forecast
Market Outlook from a Technical Perspective
Following the gains in the U.S. market on the last day of last year, buying led the opening of the Nikkei on today’s big start, and the index rose to 27,602 yen right after the open, but finished at 27,258 yen, down 185 yen.
However, after the initial buying waned, reports that Tokyo and three prefectures (Tokyo, Kanagawa, Saitama, and Chiba) were considering declaring a state of emergency led to risk-off sentiment in the stock market, and the Nikkei average accelerated its decline, dropping to 27,042 yen by 10:00.
From the morning high, it fell about 600 yen, but after the near-term selling subsided, it recovered on dips and closed the first session at 27,344 yen, down 99 yen.
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