Tokyo Stock Nikkei Futures for July 16-20 2012

Tokyo Stock Nikkei Futures forecast next week July 16-20 2012 : Japanese share prices will likely seesaw next week as investors look to US earnings reports and Congress testimony by US Federal Reserve Chairman Ben Bernanke, In the week to July 13, the Nikkei 225 index at the Tokyo Stock Exchange lost 3.3 per cent, or 296.63 points, to 8,724.12. The broader Topix index of all first-section shares fell 3.3 per cent, or 25.49 points, to 746.34.

Upcoming US earnings reports from major US banks such as JPMorgan Chase and Wells Fargo are next up for scrutiny,

They may go a long way in setting expectations for subsequent US earnings as reporting season swings into full stride next week.

Investors will look to earnings reports to see how much impact the global economic slowdown is having on US and Japanese business performance,

Japanese share prices will be seesawing next week after losing a great deal this week, adding he expected the Nikkei index to be rangebound between 8,500 and 8,900.

The Nikkei benchmark index lost nearly 300 points this week, in part as Japanese shares were feeling pressure from the strong yen, particularly against the euro, Sato said.

Ratings agency Moody's has downgraded Italy's government bond rating two notches to Baa2 from A3.

Sato also said market players were cautiously monitoring a Congress testimony by the Fed's Bernanke next week.

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