Nikkei Stock Average Focuses on US Inflation Data and Rate Cut Trends

TOKYO, Dec 09 (News On Japan) - Last week, the Nikkei Stock Average extended its gains for four consecutive days from the start of the week, briefly surpassing the 39,600-yen mark, demonstrating steady progress.

Hiroki Takashi of Monex Securities remarked, "The primary driver has been U.S. stocks. Major indices have been hitting record highs across the board. This surge in semiconductor stocks has also led to increased buying of Japanese semiconductor companies, which contributed to the Nikkei's upward momentum."

This week, the market’s attention shifts to U.S. inflation data, a key factor influencing potential rate cuts.

Hiroki added, "On Wednesday, the 11th, the U.S. Consumer Price Index (CPI) will be released. While the growth rate is expected to remain flat, if the results align with market expectations, it would virtually guarantee a rate cut during next week’s FOMC (Federal Open Market Committee). However, if the yen strengthens against the dollar, there is a risk of some selling pressure on Japanese stocks, so caution is needed."

Source: ANN

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