The Nikkei Average fell for the first time in 4 days. The forward market transaction was closed at 38782.08 yen (estimated turnover of 920 million shares), which was 138.18 yen lower (-0.36%) compared to the previous day.
The US stock market fell on the 16th. The Dow average closed at 39869.38 dollars (-0.10%), the NASDAQ depreciated 44.07 points (-0.26%) at 16698.32, and the S&P 500 fell 11.05 points (-0.21%) at 5297.10. Purchases in response to expectations of early interest rate cuts continued, and after getting close, they rose. The Dow achieved the 40,000 dollar range for the first time, but after that, it was sold at profit due to a sense of accomplishment at a high price, and growth was sluggish. Despite the April Consumer Price Index (CPI) results, US Federal Reserve (Fed) senior officials still reiterated their cautious stance in support of maintaining high interest rates for the time being, so high-tech turned to sales in response to an increase in long-term interest rates. Towards the end of the game, the Dow was unable to maintain the positive zone, and the market price fell and ended.
In response to the fall in US stocks, the Tokyo market began trading with a selling advantage. After the Nikkei Average started with a drop of over 300 yen, the decline gradually narrowed. Financial results announcements went round, and while there was a lack of prominent trading materials, it seems that aggressive trading was refrained after the reaction against the previous day's rise went round. Meanwhile, TOPIX closed ahead of time in the positive zone compared to the previous day, and the market price contrasted with yesterday.
Among stocks adopted by the Nikkei Average, Sumitomo Pharma ＜4506＞ continued to have a sales advantage and approached year-to-date lows, and Tokyo Electron ＜8035＞ declined due to a reaction against yesterday's rise. In addition, Resonac ＜4004＞, Konica Minolta ＜4902＞, Ricoh ＜7752＞, Nikon ＜7731＞, and Dentsu Group ＜4324＞ were sold.
Meanwhile, Japan Steel Works (5631) has risen drastically since the outlook for the defense business to expand was shown at financial results briefings, and recent interest rate increases have also been added, and Sumitomo Mitsui (8316) continued to rise for 7 days. In addition, Renesas Electronics (6723), Nidec (6594), Murata (6981), Toyota's own (7203), and Takashimaya (8233) were purchased.
By industry, while precision instruments, other products, chemicals, non-ferrous metals, construction industries, etc. declined, banking, electric/gas industries, transportation equipment, steel, petroleum and coal products, etc. rose.
The exchange rate is 155 yen 80 yen per dollar, and the depreciation of the yen is progressing by about 40 yen and the appreciation of the dollar is progressing by about 40 yen. At around 10:00, a government bond purchase operation (open market operation) carried out by the Bank of Japan was notified. There was speculation in the market that government bond purchases would be further reduced, but since the planned purchase amount was made the same as last time, the trend of selling yen and buying dollars intensified after notification from the Bank of Japan. The current depreciation of the yen is a solid factor for automobile-related brands such as Toyota itself, and TOPIX has an advantage. It depends on Tokyo Electron, but if the depreciation of the yen intensifies one step further, there is a possibility that the Nikkei Average will sharply reduce the decline in the aftermath.