I would like to pay attention to the following 3 points in the 12-day advance transaction.

■High-tech-led development with NVIDIA effects

■Kobe Bussan's 3Q operating profit increased 14.4% to 26.6 billion yen

■Notable materials from the front: Sodick, machine tool companies, India offensive, acceleration of localization of manufacturing, sales, and services

■High-tech-led development with NVIDIA effects

The Japanese stock market on the 12th is likely to develop to determine solidity after a round of buying. As for the US Consumer Price Index (CPI) in August, observations of drastic interest rate cuts receded due to the unexpected acceleration of the core index, and there was also a scene where the NY Dow was sold heavily. However, after the first round of sales, the buyback movement intensified, led by high-tech stocks. Also, it was viewed as material that CEO Solomon of Goldman Sachs expressed an optimistic opinion that he was anticipating a soft landing at an event hosted by the company. The Chicago Nikkei 225 futures settlement value is 36595 yen, which is 825 yen higher than Osaka. The yen exchange rate is hovering in the 142 yen 30 yen range per dollar.

The Nikkei Stock Average is likely to start before buying in response to US stock appreciation. There was also a scene where Nikkei 225 futures temporarily fell to 35410 yen during the night session, but due to a turnaround towards the end, they were bought up to 36630 yen at one point. Although it is the most recent maintenance range with 36,000 yen in between, it seems that rebound momentum will increase because it surpassed the Bollinger Band's -1σ. Also, as NVIDIA rapidly grew by more than 8% in the US, buying spread to other semiconductor stocks. There is a high possibility that it will spread to TOELEC ＜8035＞ etc. in the Tokyo market, and it is expected that it will drive the Nikkei Stock Average.

The Nikkei Stock Average is moving around 37185 yen on the 25th line and 37520 yen on the 200-day line, so it seems that they will be aware of the 25th line first. Ahead of the futures option special settlement index calculation (major SQ) for the 9 month period, rollover associated with monthly limit changes is central in the futures market. Therefore, it seems that there will be limited movement to actively tilt positions, but it seems that buybacks will be strengthened in terms of sales methods due to CPI passing. There seems to be a possibility that this feeling will intensify after a round of buying, but in a phase where the buyback movement intensifies, hedge-compatible purchases are also becoming aware.

As for the shopping trend, it is likely to be a development led by high-tech stocks, and if there seems to be an awareness of the sluggish return, there is a possibility that sales will be initiated in the short term, so be careful. However, due to the NVIDIA effect, it is difficult to set up sales, and it seems that the stance is basically aimed at push buying. In addition, there seems to be a possibility that movements aimed at price ranges mainly by individuals will intensify for small and medium-sized stocks.

■Kobe Bussan's 3Q operating profit increased 14.4% to 26.6 billion yen

As for the third quarter results for the fiscal year ending 2024/10 announced by Kobe Bussan ＜3038＞, sales were 377.2 billion 83 million yen, up 11.4% from the same period last year, and operating profit was 26.6 billion 40 million yen, up 14.4% from the same period last year. As for the opening status of “business supermarkets,” the total number of stores was 1071 as a result of 41 stores opened, 18 stores closed, and a net increase of 23 stores. Sales in the business supermarket business were 363.7 billion 23 million yen (up 10.9%).

■Notable materials from the front

・The NY Dow rose (40861.71, +124.75)

・The Nasdaq Composite Index rose (17395.53, +369.65)

・1 dollar = 142.30-40 yen

・Chicago Nikkei futures rose (36595, +825 compared to Osaka)

・The SOX index rose (4910.17, +229.50)

・The VIX Index declined (17.69, -1.39)

・US crude oil futures rose (67.31, +1.56)

・Expectations that US inflation will calm down

・Active share buybacks

・Request for improvement of corporate value by the Tokyo Stock Exchange

・Sodick ＜6143＞ Machine Tool Companies Attack India, Accelerate Localization of Manufacturing, Sales, and Services

・Mitsubishi HC Capital ＜8593＞ Rex Plus procures 0.64 billion yen, transport robot subscription

・Sumitomo Chemical ＜4005＞Acrylic resin production cut in Singapore, equipment suspended around the end of the month

・Mercari products are shipped from Mercari ＜4385＞ delivery boxes, and Pana/Mitsubishi Corporation expands nationwide

・RIKEN Genesis, which is under the umbrella of Sysmex ＜6869＞, enhances quantitative protein analysis with AI with Hitachi

・Kubota ＜6326＞ rice start-up acquisition, AI utilization support for fruit tree cultivation

・Mazda ＜7261＞ is planned to be converted to a strong HV, and existing units are used

・Nippon ESCON ＜8892＞ acquired the site of the Denso Ikeda Plant

・Hitachi Construction Machinery＜6305＞Improve competitiveness through parts warehouses and rapid supply

・ACSL ＜6232＞ US drone camera, NDAA compliant

・SoftBank ＜9434＞Memorandum of Understanding for AI Fusion Communication Network/6G Research for Joint Demonstration with Nokia

・Nisshinbo HD ＜3105＞Nisshinbo Micro develops a system to predict equipment failures at an early stage

・Canon ＜7751＞ Senior Managing Director Hiroaki Takeishi says semiconductor lithography equipment is doing well

・NEC ＜6701＞ Stable operation of AGVs for warehouses and factories, suppression of radio delays

・Microwave Chemistry ＜9227＞ Partnered with Chugai Furnace Industry to develop rotary hearth furnaces to meet increased refining demand

・Unitika (3103) develops synthesis technology for biodegradable polyester resins

・Mitsubishi Chemical G (4188) methacrylic resins, etc. have obtained international sustainability carbon certification

・Nippon Shokusai ＜4114＞New plant in Fukuoka, manufactures automotive battery electrolytes, and has been in operation for 28 years

・Amita HD ＜2195＞ collaborates with Malaysia to manufacture biofuel

・Sumitomo Electric ＜5802＞Unique hollow fiber membranes are growing rapidly, and demand increases in China

・Shimizu Corporation ＜1803＞ develops elevators for urban construction, with the highest vertical transport capacity in Japan

・Okinawa Electric Power ＜9511＞ promotes renewable energy in Palau and installs equipment with Tokyu Land

・KH Neochem ＜4189＞price increase for chemicals such as aldehydes

・Asahi Kasei ＜3407＞ aluminum paste price increase

☆ Front office event schedule

＜Domestic＞

・ 08:50 7-9 Corporate Business Forecast Survey · Large Enterprise All Industry Business Condition Judgment Index (April-6: +0.4 compared to the previous fiscal year)

・ 08:50 August Domestic Corporate Goods Price Index (year-on-year forecast: +2.8%, July: +3.0%)

・ 10:00 Bank of Japan deliberation committee member Tamura greeting (Okayama, afternoon meeting scheduled)

＜Overseas＞

・Nothing in particular