[2021.5.28] Yesterday's market wrap-up and today's reflections
Stock Price: The Nikkei Average fell by 93.18 yen yesterday. The short-selling ratio was 44.4%. This morning it rose from the start, gaining over 600 yen. Today’s rise can be attributed to short-covering. The United States and United Kingdom will be closed next Monday for Memorial Day, so it seems there was short-covering by hedge funds. June is seasonally flat for the Nikkei, so it is unclear whether it will rise from here. If today’s rise is due to hedge funds’ month-end buybacks, it may be wise to observe a bit. As I wrote yesterday, June 11th has the Quantum Settlement (SQ). Looking ahead to the SQ, we want to gauge whether short-selling will enter.
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