The Nikkei Average rebounded for the first time in 4 days. The front-end transaction was closed at 38090.87 yen (estimated turnover of 760 million shares), which is 129.07 yen higher (+0.34%) compared to the previous day.
The US market declined on the 17th. The Dow average closed at 37753.31 dollars (-0.12%) depreciated by 45.66 dollars (-0.12%), the NASDAQ fell 181.88 points (-1.15%) at 15683.37, and the S&P 500 closed at 5022.21, which was 29.20 points lower (-0.58%). It was bought as interest rates declined, and then rose after being snuggled up. After that, it was pushed by high-tech sales, starting with semiconductor manufacturer NVIDIA, and the market price began to decline. The decline of the NASDAQ widened towards the end of the game. The market became heavy, and the Dow was unable to maintain the positive zone and ended with a decline.
In response to the fall in US stocks, the Tokyo market continued to have a strong selling advantage and began trading. Since the Philadelphia Semiconductor Stock Index (SOX Index) depreciated drastically, high-value semiconductor stocks were sold, and there was a scene where the decline in the Nikkei Average extended to 37644.91 yen. However, after a round of sales, the downward deviation rate from the 25-day moving average spread to close to 5%, etc., so the “short-term feeling of being oversold” was recognized, and the decline narrowed. Since part of semiconductor stocks such as Advantest ＜6857＞ and Screen HD ＜7735＞ switched back, the Nikkei Average also switched back and recovered to the 38,000 yen level.
Among stocks adopted by the Nikkei Average, the fact that SBI Sumishin Net Bank ＜7163＞ raised the short-term prime rate became a stimulus, and increases in regional bank stocks such as Concordia Financial Group ＜7186＞, Chiba Bank ＜8331＞, and Fukuoka Financial Group ＜8354＞ are conspicuous. Also, due to the rapid rise of United Airlines, JAL (9201) was also bought. In addition, Sumitomo Pharma ＜4506＞, Shiseido ＜4911＞, and Credit Saison ＜8253＞ have risen.
Meanwhile, in addition to Fujifilm ＜4901＞ being sold due to downward revisions in operating income for the previous fiscal year and downward market forecasts for the current fiscal year, etc., SoftBank Group ＜9984＞, Resonac Holdings ＜4004＞, and Tokyo Electron ＜8035＞ were sold. In addition, stocks of trading companies such as ITOCHU ＜8001＞ and Toyota Tsusho ＜8015＞ are slightly cheap.
By sector, insurance, air transportation, textile products, non-ferrous metals, banking, securities and commodity futures trading, etc. rose, while only 2 sectors declined, mining and information and communication industries.
In the exchange market, yen appreciation and dollar depreciation are progressing slightly, with the dollar reaching the 153 yen level. In the morning, Minister of Finance Suzuki stated that “opinions were exchanged on exchange and communication between Japan and the US was confirmed at the Japan-US finance ministers' meeting,” and the appreciation of the yen and the depreciation of the dollar progressed after Treasurer Kanda commented that “commitments related to exchange were confirmed between G7 (major country summit meetings).” I think that vigilance against yen buying intervention by the government and the Bank of Japan has increased by taking root with major countries. The fact that concerns about exchange rate fluctuations associated with the implementation of the yen buying intervention have receded will be positive material for Japanese stocks. The Nikkei Average is expected to be steady in the aftermath.