Japan's Nikkei 225 was up 32 points or 0.1% to close at 23,827 on Friday, after PMI data showed private sector activity grew for the first time in four months, with the services PMI rising to a 4-month high, while manufacturing shrank the least in 5 months. At the same time, investors continue to assess the situation surrounding the spread of coronavirus in China, that has killed 25 there until Thursday. Chinese state media reported today that total number of the cases in the country soared to 830 from nearly 600 on Thursday. Meanwhile, there are at least 14 cases outside mainland China, bringing 844 worldwide. Trading was slow in Asia as markets in China, South Korea and Taiwan were closed for the Lunar New Year celebrations. The Hang Seng index in Hong Kong recovered from its earlier fall to close almost flat at 27,950.
Historically, the Japan NIKKEI 225 Stock Market Index reached an all time high of 38957.44 in December of 1989.
The Japan NIKKEI 225 Stock Market Index is expected to trade at 23398.76 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 22641.75 in 12 months time.