Don’t get excited! Golden Week is coming (three-day weekend plus Tokyo and Osaka are also closed next Thur. and Fri.). There’s not much reason for new buying, as many investors will be on the sidelines and/or quick to take any profits, given the holiday. Hey, this is almost like the status quo, but what’s different is the fact the U.S. and other global markets are still open and of course there are geopolitical factors as well. Investors don’t want to be unnecessarily exposed. Another thing, why would companies report earnings ahead of this holiday? Especially if they were expected to be good?
At any rate, here’s what happened today [...]
Nikkei 225 Stock Average +193.01 (1.1%) to 17,429.17. N225 futures in Osaka: +180 to 17,460. TOPIX 1st Section +16.07 (0.95%) to 1,703.41 (recovered 1,700 level) — advancers outpaced decliners 1,295 x 341 (93 unchanged) and 28 of 33 sectors posted gains (1 unchanged). JASDAQ and MOTHERS both posted gains.
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