Solid News

NI 225 Market Update

8/29/2022 1:48 PM

The Japanese stock market remains under serious pressure from the fundamental background and the growth of the bond market, and the quotes of the NI 225 index are currently correcting down, trading near 27901.0.

Asahi Shimbun, one of Japan's leading newspapers, published an updated rating of government confidence, which reflected a decline in support for the incumbent Prime Minister to 47.0% from 57.0% in just a month. The level of dissatisfaction with the actions of the authorities increased from 25.0% to 39.0%, which is an absolute anti-record.

Serious pressure on stock assets is exerted by the situation in the domestic bond market, where active growth continues. The yield on popular 10-year bonds increased by 5.00%, and grew by 3.27% on conservative 20-year bonds. 6- and 7-year bonds rise even more actively, adding 20.14% and 15.67% respectively.

The growth leaders in the index are Isuzu Motors Ltd. (+2.48%), Mitsui Chemicals Inc. (+1.80%), Subaru Corp. (+0.91%), Mitsubishi Motors Corp. (+0.94%).

Among the leaders of the decline are Omron Corp. (-5.16%), Daikin Industries Ltd. (-4.69%), Recruit Holdings Co. (-4.50%).

On the daily chart of the asset, the price remains within the local rising channel, trying to consolidate below the support line. Technical indicators are preparing for a reversal, slowing growth: the histogram of the AO oscillator is decreasing in the purchase zone, forming new descending bars, and fast EMAs on the Alligator indicator continue to approach the signal line.

Support levels: 27446.0, 26291.0. | Resistance levels: 28644.0, 29832.0.

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