Analysts Brokers: Nikkei and Week

analysts brokers: Next week, the Nikkei is expected to move mainly between 29,000 and 30,000, analysts and brokers said, according to The Japan Times. Maki Sawada, strategist at Nomura Securities Co., said economic indicators to be released domestically and overseas may give further reassurance to investors that the economy is on the recovery path. This week, the Nikkei average of 225 first-section issues on the Tokyo Stock Exchange climbed 740.88 points, or 2.57%, to end at 29,520.07 on Friday. ; The market enjoyed a bull run on positive developments regarding U.S. President Joe Biden's 1.9 trillion coronavirus stimulus package and rosy earnings announcements by Japanese firms in the first half of the week, but the Nikkei lost steam after a national holiday on Thursday, due to concerns over market overheating. But at the same time Sawada noted that such reassurance would not be enough for the Nikkei to breach the major psychological threshold of 30,000. Masayuki Otani, chief market analyst at Securities Japan Inc., said upcoming domestic earnings reports are expected to continue to underpin the market by showing stable business recoveries from the coronavirus crisis. Even if progress with Biden's rescue package is made, the 30,000 line cannot be broken because large U.S. fiscal spending has already been priced in, she added. ( As reported in the news.

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