The Tokyo stock market on April 24 is likely to continue its risk-averse trend, with the Nikkei Stock Average expected to fall for a second consecutive day. However, strong bargain-hunting demand at lower levels is likely to lead to a battle around the 59,000 yen level after selling subsides. European stock markets on the previous day were mixed, with Germany's main stock index DAX experiencing some selling pressure, while France's CAC 40 rebounded for the first time in four days, showing signs of selling fatigue. Although persistently high oil prices remain a concern, some semiconductor-related stocks showed strength, easing investor anxiety. The STOXX Europe 600 index, which represents overall European stock movements, also closed slightly higher for the first time in four days. In the U.S. stock market, the Dow Jones Industrial Average, Nasdaq Composite Index, and the S&P 500 index, closely watched by institutional investors as a benchmark, all fell. Amid lingering uncertainty over the Middle East situation, a cautious buying mood prevailed, with profit-taking selling pressure observed across a wide range of stocks. Views that Iran's regime is internally divided and negotiations with the U.S. are stalled also fueled risk aversion, with the Dow falling more than 600 dollars at one point. On an individual stock basis, IBM plunged more than 8% following its earnings announcement, spreading selling across software-related stocks in general. On the other hand, semiconductor-related stocks were strong, led by Intel , and the Philadelphia Semiconductor Index (SOX Index), composed of semiconductor stocks, finally recorded its 17th consecutive gain. Intel's after-hours earnings announcement exceeded consensus expectations and surged in extended trading, which could serve as a basis for buying in the semiconductor sector in today's Tokyo market. However, the Tokyo market is likely to see relatively narrow trading ranges, as it is difficult to increase positions heading into the weekend and a wait-and-see mood is strong ahead of the Bank of Japan's Monetary Policy Meeting scheduled for early next week.

In the U.S. stock market on the 23rd, the Dow Jones Industrial Average fell 179.71 dollars to 49,310.32 dollars from the previous trading day. The Nasdaq Composite Index was down 219.07 points at 20,438.50.

On the schedule today, Japan will release the March nationwide Consumer Price Index (CPI), March Corporate Service Price Index, and March nationwide department store sales. Overseas, the U.K. will release March retail sales, Germany will release the April Ifo Business Climate Index, and the U.S. will release the April consumer sentiment index (University of Michigan survey, final value).

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.