Battle at 50,000 yen for the Nikkei Average! What’s the downside target? Check the price movements of popular stocks!

In the Tokyo stock market on Monday, March 30, the Nikkei Stock Average temporarily plunged more than 5% from the previous week's close due to the deteriorating situation in the Middle East, butStrong buying emerged just shy of the psychologically significant '50,000 yen' level,the decline narrowed (down 2.79%) by the close. A risk-off sentiment driven by rising crude oil prices and inflation concerns is expected to continue for some time, and technically, the trendline from the recent high seems likely to cap the index’s upside. However, there are also signs of certain strength in buying power. Further negative factors or declines in US stocks coulda break below 50,000 yen, with technical support eyed at 48,000 yen, followed by 46,000 yen,as key levels to watch.

● First Support: 50,000 yen(Psychological level & 30-day line in focus)

●Second Support: 48,000 yen(Technical milestone)

●Defense line: ¥46,000 level(Weekly chart gap-fill level)

Many in the market expect that after external conditions improve—such as prospects for the end of the war and stabilization of crude oil prices—the recent decline will be seen as a buying opportunity, with hopes for a rebound scenario.Price movements and future outlook of popular stocks with high trading volumes at moomoo Securitiesto check.

<Price Movement of Popular Stocks Year-to-Date>
Among the most traded stocks on moomoo, those with high year-to-date gains include$Jibannet Holdings (6072.JP)$(up 416.41% year-to-date),$Unitika (3103.JP)$(up 320.42%),$QD Laser (6613.JP)$(up 305.96%) among small-cap stocks, in addition to$Kioxia Holdings (285A.JP)$（91.85％）、$JX Advanced Metals (5016.JP)$（82.86％）、$Mitsubishi (8058.JP)$(58.09%) etc.Since these experienced significant gains, there is a possibility that selling may relatively increase due to the worsening market tone.On the other hand, as the index declines,$NEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund (1357.JP)$and$Nikkei225 Bear -2x ETF (1360.JP)$ 、$Japan Physical Gold ETF (1540.JP)$share prices have been rising (as of the closing price on March 30).

◆What will happen to the stock prices of popular stocks?
▼$Metaplanet (3350.JP)$

Highly correlated with Bitcoin price, volatility remains significant. The long-term downtrend continues, with the weak structure trading well below the 200-day line, which indicates long-term trend. The technical indicator MACD, which shows trend direction, is pointing downward, suggesting a dominant pullback selling scenario. The mid-term outlook depends on Bitcoin's trend. A reversal requires an improvement in Bitcoin’s own trend.

▼$JX Advanced Metals (5016.JP)$

Following strong buying due to the thematic strength of copper and semiconductor materials, profit-taking tends to emerge during periods of worsening market sentiment. The 50-day moving average around ¥3,300–¥3,400 is expected to act as crucial support. Attention will be focused on whether the stock can slide into the upper edge of the Ichimoku cloud within a few days or enter an unstable movement inside the cloud.

▼$NTT (9432.JP)$

In addition to stable revenue from communication infrastructure, NTT Data’s data center and IT services expansion is a mid-term catalyst. The stock price is converging near the 25-day and 75-day lines, showing no clear trend direction (consolidation). In the short term, a range strategy involving buying near ¥150 and taking profits in the ¥160 range could prove effective.。A long-term high-dividend defensive option.

▼$SoftBank Group (9984.JP)$
Last weekend, its UK semiconductor design subsidiary$Arm Holdings (ARM.US)$Shares have been dragged lower by nearly a 7% drop in its UK semiconductor design subsidiary over the previous weekend. Though some view it as undervalued based on NAV, the stock is prone to volatile movements depending on the timing of AI investment returns and market sentiment. Whether the key support level at ¥3,300 holds is being closely watched. Recovery in holdings such as ARM shares and the profitability outlook for AI investments remain focal points.

▼$Kioxia Holdings (285A.JP)$

The overall uptrend remains technically intact, but the RSI is trending lower, indicating weak short-term momentum. Fundamentally, strong tailwinds continue from tight NAND demand for AI data centers, supporting a robust mid- to long-term growth story. The sustainability of NAND pricing and AI demand are key factors.

▼$Inpex (1605.JP)$

Strength as an energy stock stands out amid deteriorating market conditions. Rising crude oil prices and yen depreciation generally provide favorable tailwinds for earnings, though reversals in market conditions could lead to quick corrections. In the short term, geopolitics and crude oil prices are the biggest drivers of the stock.

▼$Mitsubishi Heavy Industries (7011.JP)$

The three pillars of defense, energy, and aviation remain solid, with both orders and profits underpinning a strong mid- to long-term growth narrative. Defense spending increases and gas turbine demand are supportive factors. Despite breaking below the neckline of the triple-top pattern formed over 30 days, the stock has not yet fallen below recent weekly lows, and the uptrend continues.

▼$Tokyo Electric Power (9501.JP)$

Despite worsening market sentiment, the stock remained relatively resilient with only minor losses on the 30th, reflecting defensive stability. The stock price has remained range-bound since the beginning of the year. The convergence of the 25-day and 75-day moving averages suggests a lack of directional clarity. Key drivers include: ① progress in restarting nuclear reactors, ② fuel prices and electricity rate adjustments, and ③ policy developments.

●$Nintendo (7974.JP)$

On the 30th, the market fell 3.43% from the previous week, dropping below 9,000 yen. The recent upward correction has reverted to a downward trend. While the latest earnings report confirms a strong start for Switch 2, profit-taking driven by worsening market sentiment currently dominates. Over the medium to long term, focus will remain on the sustainability of new hardware sales, software expansion, and maintaining profit margins.

●$Mitsubishi UFJ Financial Group (8306.JP)$

On the 30th, the market closed 3.46% lower. Expectations of an expanding interest margin during a rising interest rate environment continue to provide support, but in the short term, the market remains under pressure due to sharp declines, leading to ongoing adjustments. Over the medium to long term, high dividend payouts and stable earnings typical of bank stocks are likely to be positively evaluated.

●$Sumitomo Pharma (4506.JP)$

Due to its light price movement, the stock tends to fluctuate significantly both upward and downward when market conditions worsen. While expectations for an earnings recovery persist, concerns over supply-demand imbalances often lead to short-term capital outflows. The interplay between bargain hunting and profit-taking can result in a sensitive trading environment.

●$ENEOS Holdings (5020.JP)$

Rising oil prices tend to act as a supportive factor, allowing the stock to remain relatively resilient despite overall market weakness. However, caution is warranted regarding government price control measures and potential reversals in crude oil market trends. In the short term, the stock is likely to continue following energy price movements.

●$Mitsubishi (8058.JP)$

Trading company stocks have been sold off in line with broader market movements, but they remain relatively resilient. The MACD still indicates an uptrend. Fundamentally, this year is expected to see reduced profits due to lower resource prices, marking a peak-out phase. However, non-resource sectors and investment income are providing underlying support.

―moomoo News Kei

Source: IR materials from respective companies, moomoo

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