Nikkei Stock Average rebounds as US tech stocks rise, buying information and communications, electronics equipment – Bank of Japan meeting alert – Bloomberg

At the Tokyo stock market on the 26th, the Nikkei average stock price rebounded.in the US market with microsoft Alphabet is rising in after-hours trading, and stocks related to information and communications, electronics, and semiconductors, which are highly correlated with U.S. high-tech stocks, are likely to be bought. The wait-and-see trend is growing ahead of the announcement of the results of the Bank of Japan’s monetary policy meeting.

Tokyo Electron contributed the most to the rise in TOPIX, rising 3.2%. Of the 2,146 constituent stocks, 599 stocks rose, 1,173 stocks fell, and 374 stocks remained unchanged.

Yasuhiko Kuramochi, market strategist at Mizuho Securities, said that after the stock started high due to a rebound from the decline on the 25th and strong earnings results from two US IT companies, the move will be to monitor exchange rate trends ahead of the Bank of Japan’s decision. He added that there are concerns that the yen’s depreciation will accelerate if there is no policy change or foreign exchange intervention at a time when expectations are mounting that the Bank of Japan will reduce the scale of its government bond purchases.

The yen exchange rate reached 155.62 yen to the dollar, the weakest yen level since 1990, at 155.75 yen to the dollar, and then made small movements.

The April consumer price index (core CPI excluding fresh food) in Tokyo’s wards, which is a leading indicator of national prices, saw its year-on-year rate of increase slow significantly, falling below 2%. In addition to the continued slowdown in food price growth, the Tokyo metropolitan government’s decision to make high school tuition virtually free had an impact.

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