Japan’s Nikkei posts best week since mid-August but yen strength caps gains
The Nikkei index surged during early trading before paring gains later. This marks its best weekly performance in over a month, with a weekly rise. The Nikkei 225 saw a strong rally driven by gains in the chip sector. Tokyo Electron, a major manufacturer of chip-making equipment surged helping to boost the overall index. The index reflecting positive sentiment from the broader US tech market, which has seen a similar upward trend. On the hourly chart, the price has been trending higher, with a clear upward trajectory supported by the moving averages (5, 10, 30), which show a bullish alignment. The MACD is in positive territory, further confirming the strong momentum in the market.
Learn more about the Nikkei latest updates here.
Disclaimer:
Yen strength will likely continue to weigh on Japan’s export-heavy sectors, while the prospect of gradual BOJ rate hikes could bring further adjustments to market expectations. Traders will also monitor global economic factors, particularly from the US, which may influence the tech-driven momentum. Risk management is advised to complement these releases closely for further indications of market trends.
Publication date: