Since the U.S. election ended with the expected Bush victory, the market's focus has moved to U.S. corporate earnings and monetary policy there.
More Quotes from Hiroyuki Nakai:
If the United States raises rates broadly, such as past the 5 percent mark, then we would certainly see some damage in Japan, but with the way things are right now, I don't think it is much of a worry.Hiroyuki Nakai
Stocks were hit by a double-shock of New York plunge and the Nikkei reshuffle. The New York tumble was already factored in, but the reshuffle will continue to hurt the market for the rest of the week.
Hiroyuki Nakai
Local market sentiment was also buoyed by overseas investors, who had placed large net buy orders ahead of the market opening today. This helped prompt retail investors here to step up purchases.
Hiroyuki Nakai
The yen's rise and uncertainty over possible (dollar-supporting) intervention made players take a wait-and-see stance.
Hiroyuki Nakai
Here, investors are looking ahead to the BOJ meeting and at the end of the week we'll be awaiting U. S. jobs data. With these factors ahead, I don't think stocks will be able to move much at all today.
Hiroyuki Nakai
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