Tokyo Market Summary: Will the Nikkei Average fall sharply and the depreciation of the yen in the third year once again boost Japanese capital investment - also a boost for related stocks

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Nikkei average depreciation of 700 yen per hour semiconductor shortness of breath, sales spread to automobiles
The Nikkei Average fell sharply in the Tokyo stock market on the 24th, and the decline exceeded 700 yen at one point. The US stock exchange rate the day before had the biggest drop this year, and a wide range of stocks were sold. Semiconductor stocks bought the day before due to NVIDIA's good financial results fell sharply across the board. Automobile stocks were also sold despite the depreciation of the yen, and voices of disappointment spread in the market. $Toyota Motor(7203.JP)$It fell across the board, with a temporary 3% depreciation. $Hino Motors(7205.JP)$with $Mitsubishi Motors(7211.JP)$It hit a year-to-date low.

Long-term interest rate exceeds the level at which interdimensional mitigation began at 1.005%
New 10-year government bond yields, which are indicators of long-term interest rates, rose (price fell) in the domestic bond market on the 24th, and temporarily hit a high level of 1.005% for the first time in about 12 years since 2012/4. It hit the highest level since 13/5, immediately after the Bank of Japan introduced a “cross-dimensional mitigation” policy to purchase large amounts of government bonds. Bond sales are more likely to occur due to speculation that the Bank of Japan will move to revise monetary policy.

Will the depreciation of the yen in the third year reinvigorate Japan's capital investment - also as a tailwind for related stocks
The prolonged depreciation of the yen is becoming a tailwind for Japanese capital investment-related stocks such as the machinery sector. This is because the depreciation of the yen is not temporary, and if recognition of it as a long-term trend spreads among Japanese companies, the domestic return of manufacturing bases will intensify, and capital investment is expected to recover. In fact, the MSCI Japan Capital Goods Index has entered this year31% increaseThen, the rate of increase in the Tokyo Stock Price Index (TOPIX)It is well above 18%. Production facilities have already begun to be strengthened in the semiconductor industry. If the expansion of manufacturing bases spreads further to other industries, industrial robots $Fanuc(6954.JP)$Ya $YASKAWA Electric(6506.JP)$It seems to have a positive impact on the performance and stock prices of electrical/machine manufacturers related to such capital investments, construction stocks, etc. that build factories.

Ether spot ETF and SEC pave the way for approval - at a milestone in the crypto asset industry
The U.S. Securities and Exchange Commission (SEC) has paved the way for future trading of exchange-traded funds (ETFs) that directly invest in the world's second-largest crypto asset (virtual currency) Ether. The digital asset industry is reaching an important milestone. On the 23rd, SEC approved a plan for exchanges operated by CBOE Global Markets, NASDAQ, and the New York Stock Exchange to list financial products related to Ether. Approval from SEC was received, and important hurdles for Ether spot investment ETF transactions in the United States were removed. Ether has risen 24% since the beginning of this week in response to signs indicating the direction ETF will be approved.
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Notable stocks
Disco, stock price fall, US NVIDIA's rapid growth, be wary of overheating
$Disco(6146.JP)$has declined. 6860 yen, which was 2.24% lower at 1 time, was added. DISCO, which handles devices that manufacture high-performance semiconductors for generative AI (artificial intelligence), updated the high listing price after considering the stock split every day until the day before. On the chart, the short-term sense of overheating was conspicuous, with the upward deviation (drift) rate from the 25-day moving average exceeding 20%.

Megabanks such as Mitsubishi UFJ picked up, and long-term interest rates rose to 1.005% and levels before cross-dimensional easing ◇
$Mitsubishi UFJ Financial Group(8306.JP)$Ya $Sumitomo Mitsui Financial Group(8316.JP)$It rose into the positive zone after morning. $Mizuho Financial Group(8411.JP)$It has also picked up after a round of sales, and megabanks have remained steady. On this day, the yield on new 10-year bonds (long-term interest rate) temporarily rose to 1.005% in the yen bond market, setting a high level since 2012/4, which is the level before cross-dimensional relaxation by the Bank of Japan. On this day, although the “remaining period of 5 years or more 15.5 years or less” liquidity supply bid carried out by the Ministry of Finance was accepted as a safe result, observations continued that the Bank of Japan would raise interest rates early, and upward pressure was applied to long-term interest rates. It seems that bank stocks were bought in anticipation of further improvements in the business environment.