I expect the Nikkei to move in a boxed range of between around 15,000 and 15,500 for the time being. |
It's only healthy to see some selling after the recent run- up. The industrial production report does raise the concern that the momentum of investors who had been buying Japan on growth prospects will slow. |
People must have built up their expectations that Honda will deliver more, so that must have caused the selling. |
Technology stocks are playing catch-up to the rest of the market with some evidence that they've hit bottom. |
The expectations are prompting more expectations. The market is likely to stay solid for the time being because there are no factors to dash these hopes. |
Unlike disappointing earnings in the U.S., those in Japan do not look so bad. But investors are basically taking a wait-and-see attitude. |