

Japan’s Nikkei posts best week since mid-August but yen strength caps gains

The Nikkei index surged during early trading before paring gains later. This marks its best weekly performance in over a month, with a weekly rise. The Nikkei 225 saw a strong rally driven by gains in the chip sector. Tokyo Electron, a major manufacturer of chip-making equipment surged helping to boost the overall index. The index reflecting positive sentiment from the broader US tech market, which has seen a similar upward trend. On the hourly chart, the price has been trending higher, with a clear upward trajectory supported by the moving averages (5, 10, 30), which show a bullish alignment. The MACD is in positive territory, further confirming the strong momentum in the market. Learn more about the Nikkei latest updates here.

Nikkei latest updates

Disclaimer:

Yen strength will likely continue to weigh on Japan’s export-heavy sectors, while the prospect of gradual BOJ rate hikes could bring further adjustments to market expectations. Traders will also monitor global economic factors, particularly from the US, which may influence the tech-driven momentum. Risk management is advised to complement these releases closely for further indications of market trends.

Publication date:

2024-09-27 18:27:30 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.