Monday, September 3, 2012

Japan stock Nikkei outlook 9/4/2012

Japan stock Nikkei outlook 9/4/2012 : Asian stocks are set to bounce on Tuesday after comments from European Central Bank President Mario Draghi supported expectations that the bank will soon act to help deeply indebted euro zone states.

U.S. markets were closed overnight for the Labor Day holiday, but European stocks ended up, boosted by expectations that the European Central Bank will step in to bring down punishingly high borrowing costs for Spain and Italy.

Draghi was reported as saying on Monday that the purchase of sovereign bonds with a maturity of up to three years by the central bank would not breach EU rules, easing worries about the plan's potential hurdles.

Japan's Nikkei share average was expected to rebound from a four-week low on the back of the ECB comments.

Market players said the Nikkei was likely to trade between 8,750 to 8,850 on Tuesday, and is expected to regain a foothold above a major support level at the 13-week moving average, which it snapped on Monday.

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today
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