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【日股收评】大祸临头了?日经225连跌4日 非农绝对引爆行情

[Daily Japanese Stock Review] Is disaster looming? The Nikkei 225 has fallen for 4 consecutive days, and the non-farm payroll data could potentially ignite the market.

FX168 ·  15:35

FX168 Financial News (Asia Pacific) News The Japanese stock market fell for the fourth consecutive trading day on Friday (September 6) due to the imminent release of key US non-farm payrolls data, while the strengthening of the yen dampened market sentiment.

By the close, the Nikkei index fell 0.72% to close at 36,391.47 points. At one point, it fell 1.7% intraday. This week, the Nikkei index fell 5.15%, the worst weekly performance since July 26.

The broader TSE Index fell 0.89% to close at 2,597.42 points, dragged by electronics manufacturer Hitachi, which dropped 3.57%. The Sony Group fell 2.55%. The index fell 3.4% this week. #日本市场 #

Of the more than 1,600 stocks on the main board of the Tokyo Stock Exchange, 26% of stocks rose, 70% fell, and 2% remained flat.

Chip equipment manufacturer Tokyo Electronics fell 1.9%, which dragged down the Nikkei Index the most. Chip testing equipment manufacturer Advantest fell 1.38%, and technology investment firm SoftBank Group fell 1.76%.

Retail giant 7&i Holdings fell 1.43% after the company said it had rejected Canada's Couche-?$#@$ $38.5 billion cash purchase offer on the grounds that it was not in the interests of shareholders.

Looking at the fundamentals:

The Japanese stock market closed lower this week, as household spending in July fell short of expectations, making investors cautious and complicating the prospects for future interest rate hikes.

Consumer spending in July increased by only 0.1% year on year, falling short of expectations of 1.2%. It fell 1.7% month-on-month, a decline greater than the 0.2% forecast.

According to Japan's Ministry of Home Affairs, although people are spending more on TV and travel, rising prices have led to lower spending on food and utilities and increased savings.

In the latest economic data, S&P Global (S&P Global) reports that Japan's service sector expanded in August, and the service sector PMI stabilized at 53.7. This marks the 23rd month of growth in the past 24 months, driven mainly by strong demand and business expansion (including new store openings and export market contributions).

The yen rose to a one-month high ahead of key US employment data to be released later in the day, which could determine the scale and speed of interest rate cuts in the world's largest economy.

Wall Street generally expects an unemployment rate of 4.2% in August, according to FactSet. If the unemployment rate is higher than expected, it may cause a negative market reaction. Investors may still be nervous, even if not higher than expected.

“Investors want to reduce risk because they expect US employment data to weaken, which triggered a sell-off in stocks,” said Shingo Ide, chief stock strategist at the NLI Institute.

A stronger yen is bad for exporters because when companies remit overseas profits back to Japan, the value of profits in yen decreases.

Federal Reserve Chairman Jerome Powell (Jerome Powell) mentioned in his Jackson Hole speech last month that the Federal Reserve will pay close attention to the US labor market when deciding on monetary policy. Although the Fed's interest rate cut may boost the economy, some people are concerned about the reason for the rate cut — whether it is because inflation has declined or because the economy needs lower interest rates to avoid recession.

“Friday morning is bound to be an exciting time as the market will digest the August employment report before the Federal Open Market Committee (FOMC) meeting on September 17-18,” Joe Davis, Pioneer Group's global chief economist, wrote in a report. “We expect overall employment growth to be slightly encouraging, but it is important to note that supply-driven volatility in the unemployment rate may determine the extent of the September rate cut.”

The translation is provided by third-party software.


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