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Nikkei 225 Set for Further Gains

Nikkei 225 Set for Further Gains

The end of the week saw the Nikkei 225 rise from 15,678.50 on Wednesday morning to above 15,900.50. The increase came after the market was relatively flat during the first week of the month having risen sharply towards the end of August.

The market was boosted by both a weaker Yen, which encourages exports, as well as positive data realised in the last few days. Furthermore, a government survey found that Japanese business conditions are expected to improve in the next quarter.

Additionally the Bank of Japan sent short-term interest rates below zero this week suggesting that it will continue to purchase assets.
Given the data released this week, and the Bank of Japan’s actions it seems likely that the Nikkei 225 will continue to rise during trading next week and advance towards a yearly high around the 16,200 level.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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