ADR (American Depositary Receipt) Japanese stocks such as Yucho Bank <7182>, Advantest <6857>, Tokyo Electric <8035>, Renesas <6723>, Disco <6146>, SoftBank Group <9984>, and Shin-Etsu Chemical <4063> fell compared to the Tokyo Stock Exchange (converted at 145.46 yen per dollar), and overall selling pressure prevailed. The settlement price of Chicago Nikkei 225 futures was 37,595 yen, down 1,195 yen from the Osaka daytime equivalent.

The US stock market fell sharply. The Dow Jones Industrial Average ended the trading session down 626.15 points at 40,936.93, while the Nasdaq closed down 577.33 points at 17,136.30. Concerns about a hard landing increased as the August ISM Manufacturing PMI came in below expectations, leading to a decline after the opening. The Dow also faced profit-taking selling from its record high, and selling pressure in the semiconductor sector, including Nvidia (NVDA), further added to the downward pressure on the Nasdaq. As a result, the market extended its losses and closed lower.

In the New York foreign exchange market on the 3rd, the dollar-yen rate fell from 146.29 to 145.16 yen and closed at 145.58 yen. Dollar selling dominated due to concerns about the deterioration of the US economy, as the August ISM Manufacturing PMI, Manufacturing PMI revised value, and July construction spending all came in below expectations and were factored into the Federal Reserve's interest rate cut. As stock prices fell, there was also increased yen buying as a safe haven. At the same time, dollar buying as a refuge for quality supported the currency. The euro-dollar rate rose to 1.1068 dollars before falling to 1.1026 dollars and closing at 1.1043 dollars. It was pressured by euro selling in anticipation of additional interest rate cuts in September.

On the 3rd, NYMEX crude oil futures for October continued to decline significantly (NYMEX crude oil October futures closing price: 70.34, down 3.21).

Top performing ADR stocks (3rd)

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<2801> Kikkoman $22.8 1658 yen (+$25.5, +1.56%)

<9503> Kansai Electric Power $9.02 2624 yen (+$9.5, +0.36%)

<6178> Japan Post 10 dollars 1,455 yen (4.5 yen) +0.31%

<9983> First Retail 32.39 dollars 47,114 yen (134 yen) +0.29%

<3659> Nexon 20.13 dollars 2,928 yen (-5.5 yen) +-0.19%

Top Faller ADRs (3 days)

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<8750> Dai-ichi Life Holdings 25.8 dollars 3,753 yen (-547 yen) -12.72%

<7182> Japan Post Bank 8.55 dollars 1,244 yen (-176 yen) -12.39%

<7259> Aisin Seiki 32.1 dollars 4,669 yen (-374 yen) -7.42%

<6857> Advantest $42.8 6226 yen (-$417) -6.28%

<8035> Tokyo Electron $81.03 23573 yen (-$1572) -6.25%

■Other ADR stocks (3 days)

Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison

<2914> Japan Tobacco Inc $14.27 4151 yen (-$53)

<3382> Seven & I Holdings $14.9 2167 yen (-$42)

<4063> Shin-Etsu Chemical $21.02 6115 yen (-$258)

<4502> Takeda Pharmaceuticals SP ADR $14.92 4341 yen (-$57)

<4519> Chugai Pharmaceutical Co., Ltd. $23.88 ¥6947 (-¥170)

<4543> Terumo Corporation $18.5 ¥2691 (-¥33.5)

<4568> Daiichi Sankyo Company, Limited $40.52 ¥5894 (-¥122)

<4661> Orient Land Co., Ltd. $26.68 ¥3881 (-¥70)

<4901> Fujifilm Holdings Corporation $13.29 ¥3866 (-¥103)

<5108> Bridgestone Corporation Unsponsored ADR $19 ¥5527 (-¥104)

<6098> Recruit Holdings Co., Ltd. $12.17 ¥8851 (-¥209)

<6146> Disco Corporation $26.1 ¥37965 (-¥2195)

<6178> Japan Post $10 ¥1,455 (+4.5¥)

<6201> Toyota Industries $76.58 ¥11,139 (-¥311)

<6273> SMC $21.47 ¥62,461 (-¥2199)

<6301> Komatsu $26.82 ¥3,901 (-¥118)

<6367> Daikin Industries $12.34 ¥17,950 (-¥600)

<6501> Hitachi $47.89 ¥3,483 (-¥116)

<6503> Mitsubishi Electric $32.55 ¥2,367 (-¥80.5)

<6594> Nidec $10.07 ¥5,859 (-¥159)

<6702> Fujitsu $19.17 2788 yen (-59 yen)

<6723> Renesas $7.99 2324 yen (-151.5 yen)

<6758> Sony $95.48 13889 yen (-286 yen)

<6857> Advantest $42.8 6226 yen (-417 yen)

<6902> Denso $14.85 2160 yen (-63.5 yen)

<6954> Fanuc $14.13 4111 yen (-151 yen)

<6981> Murata Manufacturing $10.18 2962 yen (-121 yen)

<7182> Japan Post Bank $8.55 1244 yen (-176 yen)

<7203> toyota motor 186.15 dollars 2708 yen (-64 yen)

<7267> honda motor co., ltd. 32.36 dollars 1569 yen (-35.5 yen)

<7741> hoya corporation 135.89 dollars 19767 yen (-508 yen)

<7751> canon inc-spons adr 34.28 dollars 4986 yen (-106 yen)

<7974> nintendo co ltd 13.3 dollars 7738 yen (-188 yen)

<8001> itochu corporation 104.56 dollars 7605 yen (-219 yen)

<8002> marubeni corporation 166.35 dollars 2420 yen (-69.5 yen)

<8031> mitsui & co., ltd. 409.77 dollars 2980 yen (-111 yen)

<8035> Tokyo Electric, $81.03, 23,573 yen (-1,572 yen)

<8053> Sumitomo Corporation, $23.18, 3,372 yen (-83 yen)

<8058> Mitsubishi Corporation, $20.35, 2,960 yen (-74 yen)

<8306> Mitsubishi UFJ Financial Group, $10.76, 1,565 yen (-34 yen)

<8316> Sumitomo Mitsui Financial Group, $13.35, 9,709 yen (-201 yen)

<8411> Mizuho Financial Group, $4.23, 3,076 yen (-61 yen)

<8591> Orix, $124.32, 3,617 yen (-69 yen)

<8725> MS&AD Insurance Holdings, $23.43, 3,408 yen (-87 yen)

<8766> Tokio Marine HD $38.25 5564 yen (-$95)

<8801> Mitsui Fudosan $31.4 1522 yen (-$41.5)

<9432> NTT $26.85 156 yen (-$2.8)

<9433> KDDI $16.91 4919 yen (-$61)

<9983> First Retail $32.39 47114 yen ($134)

<9984> SoftBank G $27.52 8006 yen (-$427)