Solid News

NI 225 Market Update

8/22/2022 2:59 PM

Quotes of the NI 225 index are trading near 28750.0.

Despite global gains, Japan's local stock market is under serious pressure following the release of July Consumer Price data last Friday. The National CPI in annual terms corrected to 2.6% from 2.4%, and in monthly terms it rose up to 0.5%, which significantly exceeds the minimum fluctuations in June. Rising inflation may make adjustments to the monetary policy of the Bank of Japan, which is trying to keep interest rates in the negative zone.

In addition, the increase in consumer prices forced investors to change their view of the relatively stable and low-volatility national bond market: since the start of trading this week, almost the entire line of government bonds in Japan has shown active growth. Popular 10-year bonds are up 6.53%, while conservative 20-year bonds are up 5.09%. Even more active growth is shown by 6- and 7-year bonds, rising by 57.81% and 50.00%, respectively.

The growth leaders in the index are Daiichi Sankyo Co. Ltd. (+2.85%), JGC Corp. (+2.85%), Inpex Corp. (+2.88%), Eneos Holdings Inc. (+2.52%).

Among the leaders of the decline are Hino Motors Ltd. (-3.22%), CyberAgent Inc. (-3.00%), Nippon Sheet Glass Co. Ltd. (-2.76%).

On the weekly chart of the asset, the price is staying within a local upward channel, approaching the resistance line. Technical indicators maintain a steady buy signal: the histogram of the AO oscillator is increasing in the purchase zone, forming new ascending bars, and fast EMAs on the Alligator indicator continue to move away from the signal line.

Support levels: 28358.0, 27377.0. | Resistance levels: 29100.0, 30610.0.

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