Nomura: Easing Panic Sentiment Drives Japanese Stocks Rebound, but Upside Is Limited

According to Golden Ten Data on March 10, Nomura Asset Management's Chief Strategist Hideyuki Ishiguro stated that with the decline in oil prices and Trump's latest remarks, the panic surrounding the Iran crisis appears to be subsiding. He said: "Even during yesterday's sharp drop, there was a considerable amount of dip buying at the lows (in Japanese stocks), and investors' willingness to buy still seems strong." He believes that dip buying may support the Japanese stock market in the morning, but the upside may be limited. However, he added that since oil prices remain above $80 per barrel and there is no clear solution to the Iran conflict, the market will remain cautious. Concerns about credit risk also continue to drag down financial stocks. Hideyuki Ishiguro stated, "Therefore, it is still too early to assert an overall bullish outlook."