Solid News

Japanese Stock Market Continues to Rise

8/11/2022 2:20 PM

The quotes of the NI 225 index are traded around 28067.0.

The Japanese stock market is receiving significant support from positive corporate reporting, and this week, the major companies again present their data. Thus, one of the world's leading automakers, Toyota Motor Corp., reported quarterly revenue of 8.491T yen, beating analysts' forecasts of 8.071T yen, while earnings per share were also better than the previous quarter, reaching 53.65 yen from 38.78 yen. The corporation said it plans to suspend the operation of several factories in the country in connection with a new outbreak of coronavirus. Another positive report in the sector was published by Honda Motor Co. Ltd., as it posted revenue of 3.829T yen, above the 3.663T yen expected by analysts, with earnings per share of 87.23 yen, up from 73.19 yen in the first quarter.

The growth of stock indicators is also supported by the reverse dynamics of the bond market: for example, popular 10-year bonds are traded with a yield of 0.184%, falling by 2.38%, while conservative 20-year bonds remained practically unchanged in price, remaining at 0.788%. The most significant decline among long-term securities is shown by 5-year bonds, which lost 54.55%.

At the moment, the growth leaders of the NI 225 index are Mitsubishi Materials Corp. (+7.91%), Mazda Motor Corp. (+7.38%), Yokohama Rubber Co. Ltd. (+7.21%), and Idemitsu Kosan Co. Ltd. (+3.36%).

Among the decline leaders stand out: Daiwa House Industry Co. Ltd. (–4.36%), Fujitsu Ltd. (–3.79%), and Advantest Corp. (–3.56%).

On the weekly chart of the asset, the price is moving within the local sideways channel, coming close to the resistance line. Technical indicators keep a stable buy signal: the AO oscillator histogram rises in the buy zone, forming rising bars, and fast EMAs on the Alligator indicator move away from the signal line.

Support levels: 27450.0, 25970.0. | Resistance levels: 28400.0, 29820.0.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023