FX168 Financial News (Europe) News On Tuesday (May 21), before the earnings report of Nvidia (Nvidia), one of the “Big Seven” in technology, was announced, there was a sense of caution in the Asia-Pacific market, and the Japanese stock market also closed lower.
After hitting the 39,000 point level on the previous trading day, the Nikkei 225 index fell sharply, falling 0.31% or 122.75 points to close at 38,946.93 points; the Eastern Stock Exchange Index fell 0.3% or 8.32 points to close at 2,759.72 points.
Fumio Matsumoto, chief stock strategist at Okasan Securities, said, “Investors sold stocks because they became cautious and thought the index had increased too much in the previous trading day.”
“The market is not convinced that the Nikkei Index will return to the 40,000 point level anytime soon.” #日本市场 #
Despite this, higher chip-related stocks boosted the Nikkei Index. Advantest (Advantest) and chip-making equipment giant Tokyo Electron (Tokyo Electron) rose 2.17% and 0.85%, respectively
Furthermore, insurance companies performed strongly, and MS&AD Insurance Group's stock price soared 15%, making it the stock with the biggest increase in the Nikkei Index.
The insurer said on Monday that its group's net profit is expected to increase 65% and will buy back up to 8.2% of the shares.
Among the more than 1,600 stocks traded in the major sectors of the Tokyo Stock Exchange, 48% of stocks rose, 47% of stocks fell, and 3% remained flat.
Although most US stock indexes closed higher overnight, especially tech stocks such as AI chip giant Nvidia, Asian stock markets mostly fell on Tuesday.
The Australian S&P/ASX200 index fell 0.2% to close at 7,851.90 points; the Korea Composite Stock Price Index fell 0.4% to close at 2,732.26 points; Hong Kong's Hang Seng Index fell 2.1% to close at 19,233.09 points; and the Shanghai Composite Index fell 0.4% to close at 3,159.90 points.
After closing above 40,000 points for the first time on Friday, the Dow Jones Industrial Average fell 0.5% on the first trading day of the week to close at 39,806.77 points.
The three major US stock indexes all hit record highs last week, largely due to renewed hopes that the Fed will cut interest rates this year as inflation is expected to cool down.
Including more reports showing that profits of large US companies were higher than expected, which also boosted stock prices.
Looking ahead to this week, the market will keep a close eye on the latest earnings report released by Nvidia on Wednesday. The company is in #AI热潮 #中飞速发展，是标普500指数去年上扬的主要原因。
#科技 $5.66 billion, an increase of more than 500% year over year. #华尔街分析师普遍预计，在截至4月份的一季度中，英伟达营收有望达到246亿美元，同比增长两倍多，到2025年1月财年结束时，季度销售额有望突破300亿美元大关；预计同期净利润138
Another focus of Wednesday was the minutes of the Federal Reserve's latest meeting. According to CME data, traders think the probability that the Federal Reserve will cut interest rates at least once this year is 88%.
#日本央行动态 #关于日本央行6月加息的猜测持续增加，然而，美元 /yen extended the momentum of continuous gains to three trading days.
The expectations of the Bank of Japan and the Federal Reserve are contrary, and interest spreads are still firmly in favor of the US dollar.
As the Dutch International Group predicted overnight, fears of yen depreciation repeated, and USD/JPY once again approached 156.50.