I would like to pay attention to the following 3 points in the late-day transaction on the 23rd.
・The Nikkei Average continued to rise slightly, and the rise in US stocks led to a development where there was little favorable or sense of direction
・The dollar and yen are reluctant to decline, and the pressure to buy yen continues
・The top contributor to price increases is Fast Rite ＜9983＞, and NTT DATA ＜9613＞ is in the same 2nd place
■The Nikkei Average continues to rise slightly, and the rise in US stocks is developing with little sense of favor or direction
The Nikkei Average continued to rise slightly. The front-end transaction was closed at 37538.06 yen (estimated turnover of 740 million shares), which was 99.45 yen higher (+0.27%) compared to the previous day.
The US market rose on the 22nd. The Dow average closed at 38239.98 dollars, which was 253.58 dollars higher (+0.67%), the NASDAQ was 169.29 points higher (+1.11%) at 15451.30, and the S&P 500 closed at 5010.60, which was 43.37 points higher (+ 0.87%). Since the sense of alarm about the worsening situation in the Middle East receded, it rose after being snuggled up. In addition to being driven by the backlash from NVIDIA semiconductors, buybacks became dominant due to a sense of being oversold due to high technology, supporting the overall market price, and remained steady throughout the day. Expectations for major companies' financial results also became further buying material, and the increase widened towards the end of the game, and it ended.
In response to the appreciation of US stocks, the Tokyo stock market began trading with a buying advantage. Although there was a scene where the Nikkei Average rose to the 37800 yen level after being close, semiconductor stocks continued to be weak, and there were also scenes where it entered a negative zone compared to the previous day. After a round of sales, it was reversed, but in the midst of weak sales where the trading price on the Prime Market fell below 2 trillion yen, it became an unbearable situation.
Among the stocks adopted by the Nikkei Average, Fujikura ＜5803＞ was bought using reports by some securities companies as materials, and Kashima Construction (1812) also rose due to the influence of Tsukiji redevelopment, etc. In addition, Tokio Marine (8766), Astellas Pharma (4503), and Ajinomoto (2802) were purchased.
Meanwhile, semiconductor stocks such as Socionext ＜6526＞, Lasertech ＜6920＞, SUMCO ＜3436＞, and Renesas Electronics ＜6723＞ continued to be sold, and Denso ＜6902＞ and NYK Line (9101) are not even there.
By sector, insurance, electricity/gas, banking, mining, securities/commodity futures trading, etc. rose, while metal products, shipping, rubber products, warehousing/transportation-related businesses, glass/earth and stone products declined.
Since the Philadelphia Semiconductor Stock Index (SOX Index) rebounded 1.74% higher than the previous day, semiconductor stocks such as East Elec ＜8035＞ generally started rising, but buying did not continue, probably due to deterioration in investor sentiment, etc. The backstage of the Tokyo market is probably where prices depend on trends in semiconductor stocks. The Nikkei Average, which has reached an adjustment phase, is likely to continue to develop with little sense of direction.
■The dollar and yen are reluctant to decline, and the pressure to buy yen continues
The dollar and yen were reluctant to decline in the Tokyo market on the morning of the 23rd, and after falling from 154 yen 84 yen to 154 yen 65 yen, the value returned slightly. Finance Minister Suzuki fought against the depreciation of the yen, saying “it can be taken that the environment is ready” regarding exchange intervention. Pressure to buy yen increased in response to remarks, but the dollar buying situation continued.
The trading range up to this point is 154 yen 65 yen to 154 yen 84 sen for the dollar and yen, 164 yen 83 yen to 165 yen 00 sen for the euro and yen, and 1.0652 dollars to 1.0660 dollars for the euro dollar.
■Backstage check stocks
・5 stocks, such as Tech Firm Holdings ＜3625＞,) G.C. Planning ＜4073＞, etc., are stop-high
*Includes temporary stop height (sign value)
・The top contributor to price increases is Fast Rite ＜9983＞, and NTT DATA ＜9613＞ is in the same 2nd place
■Economic indicators and statements from key figures
[Economic indicators]
・US March Chicago Fed National Activity Index: 0.15 (forecast: 0.07, February: 0.09 ← 0.05)
・Eurozone April Consumer Confidence Index Preliminary Value: -14.7 (forecast: -14.5, March: -14.9)
[Remarks by VIPs]
・Finance Minister Suzuki
“It's okay to think that the environment is ready”
“Future responses will be based on the Japan-US Joint Statement”
・Bank of Japan Governor Ueda
“We will adjust the degree of monetary policy and raise short-term interest rates”
“The period for achieving the price forecast of 2% is currently assumed to be over fiscal 2025”
“If the underlying price outlook falls, it is difficult to say specific responses in advance.”
＜Domestic＞
・April Government Monthly Economic Report
＜Overseas＞
・ 15:00 Anglo/March public sector net borrowing amount (excluding banking sector) (forecast: +10 billion pounds, February: +8.4 billion pounds)
・ 16:30 German and April manufacturing PMI preliminary figures (forecast: 42.7, March: 41.9)
・ 16:30 Germany/April service industry PMI preliminary figures (forecast: 50.5, March: 50.1)