Japanese shares seen to be rangebound this week


TPKYOO: JAPANESE shares are seen to be rangebound this week as investors focus on US and Chinese economic data, while any downside is likely to be limited by bargain hunting, brokers said.

“Stocks are likely to move in a tight range next (this) week with investors' eyes on economic data as well as the foreign exchange market,” said Hiroichi Nishi, equity general manager at SMBC Nikko Securities.

Tsuyoshi Segawa, equity strategist at Mizuho Securities, said: “There are not yet factors to drive up stocks to break through recent ranges.

“Uncertainties over the course of the Chinese and US economies are weighing on the market“.

In the week to June 10, the benchmark Nikkei Index at the Tokyo Stock Exchange added 0.23%, or 22.23 points, to 9,514.44. The Topix Index of all first section shares gained 0.10%, or 0.81 points, to 817.38.

Weaker-than-expected US nonfarm payrolls data for May reinforced the view that recovery is slowing in the world's largest economy, sending stocks lower and triggering dollar selling against the yen earlier last week.

For US share market summary and charts cick here

For latest Bursa Malaysia indices, charts and other information click here

Related Stories: Prada says Hong Kong IPO roadshow going well New firms join Canadian bid for Toronto exchange KLCI lower in early trade Wall Street may rack up 7th consecutive week of losses this week It was a brutal week for US stock markets last week Shares on Bursa Malaysia expected to rally this week Analysts puzzled as UOA fails to shine on debut Eye On Stocks

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Bursa Malaysia ends lower for fourth session in a row
Maybank extends RM20bil worth of repayment assistance
Nikkei erases early losses to end flat amid strong earnings
Glomac: Prospects intact, RM8bil GDV within Klang Valley
Oil falls after increases in U.S. crude, fuel stockpiles
Australian border openings boost demand for flights
Asian currencies fall on U.S. rate expectations, China jitters
Seni Jaya proposes 3-for-1 bonus issue
Proton X70 production in Pakistan scheduled for year-end
Serba Dinamik continues to be suspended

Others Also Read


Vouchers