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Tokyo stocks mixed at opening, upside limited on concerns over rapid recent gains
The Tokyo stock market opened mixed on the 28th, with the Nikkei Stock Average down 5 yen from the previous trading day to 60,531 yen, reversing course.
The Nikkei surged to the mid-60,000 yen level at the close on the previous day, renewing its all-time high, but a heavy tone is expected today amid concerns over the rapid pace of recent gains. In the U.S. stock market on the previous day, the Nasdaq Composite Index showed resilience and continued to edge higher, maintaining its trend of renewing record highs, while the Dow Jones Industrial Average edged lower for the third consecutive session, with upward momentum stalling. This is a timing when profit-taking moves are likely to emerge in the Tokyo market as well. Today, a wait-and-see mood also prevails as market participants focus on the results of the Bank of Japan's monetary policy meeting and the press conference by BOJ Governor Ueda. On the other hand, bargain-hunting demand remains strong on the downside, supporting the market's resilience.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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