The Nikkei 225 added 160.52 points or 0.55% to 29518.34 on Monday, closing at 2-week highs as strong finish last week on Wall Street boosted investor sentiment ahead of earnings reports from domestic automakers and other major firms this week, while unexpectedly slow growth in the US jobs market eased concerns over prospects for rising rates. Local 10-year bond yields fell to 0.081% while US-10 year rates were at 1.593%. Among stocks, Toyota gained 1.7%, while Nissan jumped 4.39% as Japanese automakers are set to report their earnings this week. SoftBank Group rose 1.7%. On the coronavirus front, Japan's confirmed daily coronavirus infections topped 6,000 for the third straight day on Sunday, while the number of patients with severe symptoms rose to a record 1,144, amid the spread of more contagious variants. Ahead in the week, market participants will be monitoring US inflation rate, retail sales and Michigan consumer sentiment data.
Historically, the Japan Stock Market Index (JP225) reached an all time high of 38957.44 in December of 1989. Japan Stock Market Index (JP225) - data, forecasts, historical chart - was last updated on May of 2021.
The Japan Stock Market Index (JP225) is expected to trade at 28872.14 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 26982.17 in 12 months time.