Japanese ADR (American Depositary Receipts) shares fell in comparison with the Tokyo Stock Exchange (156.74 yen equivalent to 1 dollar), AGC ＜5201＞, Kashima ＜1812＞, Sumitomo Denshi ＜5802＞, Hishijisho ＜8802＞, Daiwa House ＜1925＞, Fujifilm ＜4901＞, Marubeni ＜8002＞, etc., and generally had a slight selling advantage. The Chicago Nikkei 225 futures settlement value is 38,635 yen, which is 15 yen higher than the Osaka daytime.

The US stock market fell. The Dow average closed at 39,671.04 dollars, down 201.95 dollars, and the NASDAQ fell 31.09 points at 16,801.54. Ahead of the Federal Open Market Committee (FOMC) agenda summary and semiconductor NVDA (NVDA) financial results announcements, wait-and-see signs intensified, and they came close with small movements. In the FOMC agenda summary for the previous session announced by the Federal Reserve (Fed), the attitude of maintaining policy interest rates at a high level over an even longer period of time was re-expressed, and it became clear that there were also participants who supported additional tightening if necessary, and sales were spurred by a retreat in interest rate cut expectations. The NASDAQ was pushed by profit-making sales from near record highs, but expectations for NVIDIA's financial results were strong, and the decline narrowed towards the end of the game and ended.

The dollar and yen weakly fell to 156 yen 35 yen in the New York foreign exchange market on the 22nd, then rose to 156 yen 78 yen, and closed at 156 yen 76 yen. The number of second-hand housing sales in April in the US unexpectedly declined, and dollar sales became dominant. After that, in the US Federal Open Market Committee (FOMC) meeting summary (4/30 to 5/1 meeting) announced by the Federal Reserve (Fed), participants were disappointed with inflation data for the first quarter, and the view was that it would take longer to be even more convinced that the 2% target would be achieved, and a policy to maintain high interest rates for the time being was indicated. Furthermore, since various participants showed positive thoughts on additional tightening, dollar buying intensified as interest rates rose. The euro dollar strongly contained 1.0847 dollars, then fell to 1.0818 dollars and closed at 1.0822 dollars. European Central Bank (ECB) President Lagarde, Chief Economist, and Director Lane suggested the possibility that interest rate cuts would begin in June if there was no change in price trends, so euro sales became dominant.

NY crude oil futures fell for the July period (NYMEX crude oil closing price for the July period: 77.57 ↓ 1.09).

■Stocks with the highest ADR growth rate (22nd)

＜6952＞ Casio 75.12 dollars 1177 yen (25.5 yen) +2.21%

＜9202＞ ANA 3.94 dollars 3092 yen (50 yen) +1.64%

＜2503＞ giraffe 14.14 dollars 2216 yen (20.5 yen) +0.93%

＜8309＞ Mitsui Trust $4.61 3613 yen (27 yen) +0.75%

＜7012＞ Kawashige 14.25 dollars 5585 yen (39 yen) +0.7%

■Stocks with lower ADR depreciation rate (22nd)

＜6753＞ Sharp 1.42 dollars 890 yen (-42.6 yen) -4.57%

＜5201＞ AGC 6.82 dollars 5344 yen (-175 yen) -3.17%

＜1812＞ Kashima 16.5 dollars 2586 yen (-72 yen) -2.71%

＜8252＞ Marui 29.35 dollars 2300 yen (-40.5 yen) -1.73%

＜6976＞ Solar Power 81.3 dollars 3186 yen (-54 yen) -1.67%

■Other ADR stocks (22nd)

＜1812＞ Kashima 16.5 dollars 2586 yen (-72 yen)

＜1925＞ Daiwa House 26.54 dollars 4160 yen (-30 yen)

＜1928＞ Sekisui House 22.77 dollars 3569 yen (-7 yen)

＜2503＞ giraffe 14.14 dollars 2216 yen (20.5 yen)

＜2802＞ Ajinomoto 38.12 dollars 5975 yen (-7 yen)

＜3402＞ Toray $9.77 766 yen (-3.3 yen)

＜3407＞ Asahi Kasei 13.38 dollars 1049 yen (2.5 yen)

＜4901＞ Fujifilm 10.86 dollars 3404 yen (-24 yen)

＜4911＞ Shiseido, $30.68, 4809 yen (26 yen)

＜5108＞ Bridgestone 21.65 dollars 6787 yen (-41 yen)

＜5201＞ AGC 6.82 dollars 5344 yen (-175 yen)

＜5802＞ Sumitomo Electric 14.98 dollars 2348 yen (-20 yen)

＜6301＞ Komatsu 29.38 dollars 4605 yen (-8 yen)

＜6361＞ Ebara 39.11 dollars 12259 yen (9 yen)

＜6503＞ Mitsubishi Electric 35.11 dollars 2752 yen (-2 yen)

＜6586＞ Makita $30.12 4721 yen (-18 yen)

＜6645＞ Omron 33.62 dollars 5270 yen (16 yen)

＜6702＞ Fujitsu 14.83 dollars 2324 yen (2.5 yen)

＜6723＞ Renesas 8.65 dollars 2712 yen (11 yen)

＜6758＞ Sony G 81.26 dollars 12,737 yen (-73 yen)

＜6762＞ TDK 47.9 dollars 7508 yen (40 yen)

＜6902＞ Denso 16.27 dollars 2550 yen (-13 yen)

＜6954＞ FANUC 14.46 dollars 4533 yen (-17 yen)

＜6988＞ Nittoden 38.62 dollars 12107 yen (-28 yen)

＜7201＞ Nissan from 7.05 dollars 553 yen (0.2 yen)

＜7202＞ Isuzu $12.68 1987 yen (-13 yen)

＜7203＞ Toyota 216.63 dollars 3395 yen (7 yen)

＜7267＞ Honda $33.08 1728 yen (0 yen)

＜7270 ＞ SUBARU 10.62 dollars 3329 yen (-8 yen)

＜7741＞ HOYA 117.39 dollars 18400 yen (65 yen)

＜7912＞ Dainichito 15.23 dollars 4774 yen (-16 yen)

＜7974＞ Nintendo 13.33 dollars 8357 yen (6 yen)

＜8001＞ ITOCHU 92.77 dollars 7270 yen (-33 yen)

＜8002＞ Marubeni 193.92 dollars 3040 yen (-20 yen)

＜8031＞ Mitsui Mono 1047.75 dollars 8211 yen (-31 yen)

＜8053＞ Sumitomo Corporation 25.98 dollars 4072 yen (-15 yen)

＜8267＞ AEON 21.17 dollars 3318 yen (-18 yen)

＜8306＞ Mitsubishi UFJ 9.91 dollars 1553 yen (-0.5 yen)

＜8309＞ Mitsui Trust 4.61 dollars 3613 yen (27 yen)

＜8316＞ Sumitomo Mitsui 12.51 dollars 9804 yen (-19 yen)

＜8411＞ Mizuho FG 4.01 dollars 3143 yen (14 yen)

＜8591＞ ORIX $107.43 3368 yen (-5 yen)

＜8604＞ Nomura HD 5.93 dollars 929 yen (4.9 yen)

＜8766＞ Tokio Marine HD 32.82 dollars 5144 yen (0 yen)

＜8802＞ Ryojisho 16.62 dollars 2605 yen (-20 yen)

＜9202＞ ANA 3.94 dollars 3092 yen (50 yen)

＜9432＞ NTT 24.59 dollars 154 yen (-0.5 yen)

＜9735＞ SECOM 15.81 dollars 9914 yen (-41 yen)

＜9983＞ Fast Retay 25.85 -0.61 dollars -163 yen (0 yen)

＜9984＞ SoftBank G 26.55 dollars 8323 yen (-49 yen)