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NI 225 Financial Statements Disappointed Investors

11/21/2022 1:03 PM

The leading Japanese stock index NI 225 continues to correct, trading near the level of 27900.0.

The day before, the financial report for the third quarter was published by the insurance holding Tokio Marine Holdings Inc. The company recorded revenue of 1.778 trillion yen, worse than the forecast of 1.779 trillion yen, but the main disappointment for investors was a loss per share of 18.66 yen against an expected profit of 26.08 yen. In turn, MS&AD Insurance Group Holdings Inc. reported income of 1.508 trillion yen, which beat the forecast at 1.337 trillion yen, and a loss per share of 172.32 yen, which is significantly lower than the projected profit of 77.08 yen and is a repeat of the company's worst quarter in 2020.

In addition, macroeconomic statistics also had a negative impact on the dynamics of the NI 225 index. Japan's Consumer Price Index rose 3.7% from the same period a year earlier, the highest increase in inflation since 1991, according to an October report.

The growth leaders in the index are Sapporo Holdings Ltd. (+2.92%), Teijin Ltd. (+2.78%), Resona Holdings Inc. (+2.31%), Mitsubishi Corp. (+2.23%).

Among the leaders of the decline are Sompo Holdings Inc. (-8.12%), Tokai Carbon Co. Ltd. (-5.38%), Showa Denko K.K. (-2.76%).


On the daily chart of the asset, the price remains within the local ascending corridor, heading towards the resistance line.

Technical indicators maintain a fairly strong buy signal: the histogram of the AO oscillator is forming new multidirectional bars and the fast EMAs on the Alligator indicator are moving away from the signal line.

Support levels: 27500.0, 26800.0. | Resistance levels: 28200.0, 29100.0.

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