Tokyo Market Summary: Nikkei Stock Average rebounds for the first time in 3 days and real estate stocks soar due to “anti-deflationary trade”

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●The Nikkei Stock Average ended at 40762.73 yen, 364.70 yen higher than the previous business day
●Bank of Japan Governor Says Yen Depreciation Processes “Closely Monitor Impact on Economy and Prices”
● The yen fell to a low for the first time in about 34 years against the dollar, and the finance minister says that firm measures will be taken
● Sumitomo no --- the real estate sector is high due to a sharp backlash and published land prices
● Attention to the handle: $Sumitomo Realty & Development(8830.JP)$、 $San Ju San Financial Group(7322.JP)$etc
-MooMoo News Japan Stock Zeber

Market Overview
Today's Nikkei Stock Average ended at 40762.73 yen, 364.70 yen higher than the previous business day, and the Tokyo Stock Price Index (TOPIX) ended at 2799.28, 18.48 points higher than the previous business day.

Top news
Real estate stocks soared due to the Nikkei average rising by 364 yen due to “deflationary trade”
The Nikkei Stock Average rebounded in the Tokyo Stock Exchange on the 27th, and the closing price was 40,762 yen, 364 yen (0.9%) higher than the previous day. The depreciation of the yen and appreciation of the dollar progressed to a level approaching 1 dollar = 152 yen in the foreign exchange market, and export-related stocks such as automobiles were bought. The rise in real estate stocks and financial stocks was also conspicuous due to expectations for overcoming deflation.

Bank of Japan Governor Says Yen Depreciation “Closely Watching the Impact on the Economy and Prices”
Bank of Japan Governor Ueda Kazuo said at the House of Representatives Finance and Finance Committee on the afternoon of the 27th about the exchange rate where the depreciation of the yen is progressing, “It is a factor that has an important impact on the economy and prices. I would like to closely cooperate with the government and keep a close eye on exchange market trends and their impact on the economy and prices.”

The yen fell to a low for the first time in about 34 years against the dollar, and the finance minister says that firm measures will be taken
The exchange rate of yen fell to a low of about 34 years against the dollar in the Tokyo Foreign Exchange Market. While the Bank of Japan showed an attitude of maintaining an accommodative environment even after lifting large-scale mitigation measures, including negative interest rate policies, early interest rate reduction observations in the United States have receded, and yen sales and dollar purchases that are conscious of interest rate differences between Japan and the US are dominant. Finance Minister Suzuki Shunichi stated “I want to take firm measures” regarding the depreciation of the yen, and a sense of caution against intervention is growing.

Is the upper limit of depreciation of yen 155 yen, or 3 routes for brake operation = Mr. Minoru Uchida
What has the highest explanatory power for the exchange rate of major currencies after 2022 is the trend in real interest rates (excluding the Swiss franc, which was affected by large-scale domestic currency purchases). The reason the yen continues to depreciate even after the Bank of Japan lifted negative interest rates on March 19 is probably because the real policy interest rate remains in the drastically negative zone.

Bonds are rising, 40-year bond bidding is going well and buying security - limited impact of Tamura Commissioner's remarks
The bond exchange rate rose on the 27th. The results of the 40-year government bond bidding went smoothly, and a sense of purchase security is spreading. Market reaction to the Bank of Japan deliberation committee member Naoki Tamura's speech has been limited.

Notable stocks
Kobayashi Pharmaceutical ordered to collect “red rice malt” Osaka City took administrative action
$Kobayashi Pharmaceutical(4967.JP)$On the 27th, Osaka City issued an administrative sanction ordering the company to collect the product over health hazards caused by supplements made from “red malt (koji)” ingredients manufactured by. The target is 3 types, such as “red yeast cholesterol help,” and the corresponding products will no longer be sold. The city plans to issue disposal orders in the future.

Sumitomo no -- the real estate sector is high due to a sharp backlash and published land prices
$Sumitomo Realty & Development(8830.JP)$There was a drastic backlash. Today, the real estate sector is at the top of the rate of increase by industry. The day before, the Ministry of Land, Infrastructure, Transport and Tourism announced the published land prices for 2024. The national average for all uses has risen 2.3% from the previous year, and the growth rate is the highest in 33 years since the bubble period. Following stock prices and wages, a wave of price increases spread to land. The movement to return to the office has also become clear due to a reduction in telecommuting, etc., and commercial areas in the 23 wards of Tokyo have an average positive rate of 7.0%. Move straight to a positive view of the improvement in real estate market conditions.

33 FG - Expansion of Rear Market Increase Formulated New Mid-Term Account and Shareholder Return Policy Estimated 30% Dividend Payout Ratio
$San Ju San Financial Group(7322.JP)$The range of improvements in the backfield has expanded. The company announced at 14:00 on the 27th that it had formulated the 3rd medium-term management plan (2024/4/27/3).

Distributor: Bloomberg, Nihon Keizai Shimbun, Jiji Press, QUICK Money World, Traders Web、Reuters