日経平均続騰、関税交渉の中、外需株から小売やメディア等の内需株へのセクターローテーションによるブル相場到来も...｜2025/4/18相場雑感

日経平均は上昇継続。小売やメディア関連の物色が続き、外需株から内需株へのセクターローテーションが発生か。外需銘柄からの内需銘柄への急速かつ巨額な資金流入が内需中心のブル相場到来で、日経平均は2024年7月SQ高値の奪還を狙うか。ただし、外需と内需の両翼を失う景気後退懸念が残るのを肝に銘じるべきか。___The Nikkei 225 continues its upward trend. Investor focus remains on retail and media-related stocks, suggesting a possible sector rotation from export-oriented (external demand) to domestic demand-driven stocks. A rapid and massive capital inflow into domestic sectors could signal the arrival of a bull market centered on domestic demand, potentially aiming to reclaim the July 2024 SQ high. However, it's important to keep in mind the lingering concerns of an economic slowdown, which could weaken both external and domestic demand.