I would like to pay attention to the following 3 points in the late-day transaction on the 8th.

・The Nikkei Average fell drastically, semiconductor-related goods fell sharply, and the previous day's increase fell sharply

・The dollar and yen have firmly risen to the 155 yen range

・The top contributor to price drops is Fast Rite ＜9983＞, and East Elec ＜8035＞ is in the same 2nd place

■The Nikkei Average fell drastically, semiconductor-related goods fell sharply, and the previous day's increase fell sharply

The Nikkei Average fell sharply. The forward market transaction was closed at 38303.39 yen (estimated turnover of 710 million shares), which was 531.71 yen lower (-1.37%) compared to the previous day.

The US stock market on the 7th was mixed. The Dow average closed at 38884.26 dollars, which was 31.99 dollars higher (+ 0.08%), the NASDAQ was 16.70 points lower (-0.10%) at 16332.55, and the S&P 500 closed at 5187.70, which was 6.96 points higher (+ 0.13%). Purchases in response to expectations of interest rate cuts continued, and after getting close, there was a slight increase. It remained steady due to a decline in long-term interest rates and expectations for corporate settlement, but since the Minneapolis Federal Bank President Kashkari mentioned the possibility that policy interest rates were not sufficiently suppressive in controlling inflation and showed an attitude of not ruling out interest rate hikes, concerns about interest rate hikes were rekindled, and stalled towards the end of the game. High-tech turned to a decline and ended on a mixed basis.

US stocks were mixed, but the fact that the Philadelphia Semiconductor Stock Index (SOX Index) fell 0.74% from the previous day was disgusted, and the Tokyo stock market began trading with a selling advantage. In addition to Tokyo Electron ＜8035＞ entering the negative zone from positive compared to the previous day, Advantest ＜6857＞ and Shin-Etsu ＜4063＞ widened the decline from donations, so the Nikkei Average rapidly widened the decline.

Among stocks adopted by the Nikkei Average, Ricoh (7752) had a sales advantage due to lower market consensus guidance for the current fiscal year, and NEC (6701), Nomura (8604), Dai-ichi Life Holdings (8750), and Mitsubishi Heavy (7011) are not even there. Also, financial concerns associated with large-scale acquisition plans continued to be viewed negatively, and the Sony Group (6758) hit a year-to-date low.

Meanwhile, Yokogawa Electric (6841), whose operating profit for the first fiscal year increased drastically, updated the high price since listing, and the opening of the new Frozen area in June continued to be viewed as material, and Oriental Land (4661) was also solid. In addition, Socionext ＜6526＞, Sumitomo Pharma ＜4506＞, and Alps Alpine ＜6770＞ were bought.

While all industries declined, declines in other products, insurance businesses, electrical equipment, securities and commodity futures trading businesses, and shipping industries were conspicuous.

The exchange rate has been hovering at 155 yen and 20 yen per dollar. There was a sharp backlash from the 151 yen level right after the US employment statistics were announced on the 3rd. While yen buying intervention observations by the government and the Bank of Japan continued to remain, it easily recovered to the 155 yen level. Since intervention in the Tokyo market, where there is a lot of trading volume, uses a lot of funds, it seems that speculation that intervention will not be carried out during the day is also having an effect. While staring at exchange rates in the backstage, attention is drawn to stocks announcing financial results. At 12:00, NYK Line ＜9101＞, and at 13:00, Mitsubishi Heavy Duty, Mitsubishi Logisnext ＜7105＞, system support ＜4396＞, AGC ＜5201＞, iPhone ＜6718＞, Lintec ＜7966＞, ITOCHU ＜8001＞, Nikden ＜9902＞, Toyota's (7203), etc., are scheduled for 14:00, and Takiron CI ＜4215＞, Ho Chi Minh ＜6745＞, Fuyo Lease ＜8424＞, etc.

■The dollar and yen have firmly risen to the 155 yen range

There was a steady price movement of the dollar and yen in the Tokyo market on the morning of the 8th, and the upper price increased from 154 yen 59 yen to 155 yen 26 yen. US Federal Reserve (Fed) officials expressed the view that tight current policies should be maintained by the end of the year, and the dollar swayed higher due to rising US 10-year bond yields.

The trading range up to this point is 154 yen 59 yen to 155 yen 26 sen for the dollar and yen, 166 yen 30 yen to 166 yen 74 sen for the euro and yen, and 1.0738 dollars to 1.0755 dollars for the euro dollar.

■Backstage check stocks

・4 stocks, such as Insource ＜6200＞ and Kasai Kogyo ＜7256＞, etc., are stop-high

*Includes temporary stop height (sign value)

・The top contributor to price drops is Fast Rite ＜9983＞, and East Elec ＜8035＞ is in the same 2nd place

■Economic indicators and statements from key figures

[Economic indicators]

・U.S. Consumer Credit Balance for March: +6.274 billion dollars (forecast: +15.00 billion dollars, February: +15.019 billion dollars ← +14.125 billion dollars)

[Remarks by VIPs]

・Finance Minister Suzuki

“I can't comment on what the US is doing”

“Foreign exchange should not be decided only by interest rate differences between Japan and the US”

・Bank of Japan Governor Ueda

“There has been no impact on the underlying inflation rate so far, but there is a risk of future effects”

“Price stability is the goal of monetary policy management”

“Necessary execution will not be hindered by considerations relating to the Bank of Japan's finances”

＜Domestic＞

・Nothing in particular

＜Overseas＞

・ 15:00 Germany/March industrial production (month-on-month forecast: -0.7%, February: +2.1%)