I would like to pay attention to the following 3 points in the after-sale transaction on the 24th.
・The Nikkei Average was drastically high and continued to rise for 3 days, and semiconductor stocks led the way and rose to the 38300 yen level
・The dollar and yen are solid, and US interest rates are high
・Tokyo Electron ＜8035＞ is the top contributor to price increases, and Fast Rite ＜9983＞ is in the same 2nd place
■The Nikkei Average was drastically high and continued to rise for 3 days, and semiconductor stocks led the way and rose to the 38300 yen level
The Nikkei Average was significantly higher and continued to rise for 3 days. The front-end transaction was closed at 38329.39 yen (estimated turnover of 880 million shares), 777.23 yen higher (+2.07%) compared to the previous day.
The US stock market continues to grow. The Dow average closed at 38503.69 dollars, which was 263.71 dollars higher (+ 0.69%), the NASDAQ closed at 15696.64, 245.33 points higher (+ 1.59%), and the S&P 500 closed at 5070.55, which was 59.95 points higher (+ 1.20%). Since the April PMI preliminary figures deteriorated unexpectedly, expectations for interest rate cuts were rekindled, and they were bought as long-term interest rates declined, and then rose. The NASDAQ also rose due to unfavorable interest rates and purchases expecting financial results from major high-tech companies, and the market remained strong throughout the day. Expand the range at the end of the game and finish.
The rise in the NASDAQ and the strengthening of the rebound trend with the Philadelphia Semiconductor Stock Index (SOX Index) being 2.21% higher than the previous day were viewed as material, and the Tokyo market began trading with a buying advantage. Since US Tesla was bought in overtime trading after financial results were announced, a sense of security also spread, and semiconductor stocks all rose, leading the Nikkei Average. The Nikkei Average expanded its increase and recovered to the 38,000 yen level, and trading prices in the Prime market also increased drastically from the previous day to 2.2 trillion yen.
In stocks adopted by the Nikkei Average, Nikon ＜7731＞ soared when it became known that an English investment fund had acquired 5.02% of the company's shares. HOYA ＜7741＞ was bought because some securities companies made an investment decision “Buy.” Also, semiconductor stocks such as Renesas Electronics ＜6723＞, Tokyo Electron ＜8035＞, DISCO ＜6146＞, Advantest ＜6857＞, and Screen HD ＜7735＞ also rose. Among stocks other than those adopted by the Nikkei Average, the good performance of Nomura Micro ＜6254＞ and predictions of a drastic dividend increase were viewed as material, and the stop was high.
Meanwhile, Resonac (4004) plummeted due to the announcement that it would raise 100 billion yen through CB issuance. Nidec ＜6594＞ was sold due to slightly negative financial results, and Asahi Kasei ＜3407＞, Denka ＜4061＞, Kao ＜4452＞, and Astellas Pharma ＜4503＞ are not even there.
By sector, precision instruments, electrical equipment, machinery, transportation equipment, wholesale trade, glass/earth and stone products, etc. rose, while the electric/gas industry, air transportation industry, land transportation industry, steel, non-ferrous metals, etc. declined.
The exchange rate is in the 150 yen 80 yen range per dollar, which reinforces this sentiment. Since the Bank of Japan's monetary policy meeting will be held from tomorrow 25th to 26th, it seems that the wait-and-see attitude is strengthening. In the market, it is expected that price forecasts will be raised according to the “Economic and Price Situation Outlook (Outlook Report)” to be announced. There is a strong view that there are few surprises, but in some cases, the possibility that Bank of Japan Governor Ueda Kazuo will make references (verbal intervention) to the current exchange rate has emerged. Since the US Federal Open Market Committee (FOMC) next week is expected to be a “slightly hawkish” meeting, there is a possibility that Bank of Japan Governor Ueda will make statements fighting back against the depreciation of the yen ahead of time. The backstage Tokyo market is likely to test price consolidation in the 38,000 yen range while keeping an eye on exchange rate trends.
■The dollar and yen are solid, and US interest rates are high
The dollar and yen remained solid in the Tokyo market on the morning of the 24th, and the price rose slightly from 154 yen 73 yen to 154 yen 89 yen. Speculation spread about the continuation of the tightening policy by the US Federal Reserve (Fed), and in response to the rise in US 10-year bond yields, it became a dollar buying trend. Also, stock prices were well received.
The trading range up to this point has been from 154 yen 73 yen to 154 yen 89 sen for the dollar and yen, 165 yen 57 yen to 165 yen 84 sen for the euro and yen, and 1.0700 to 1.0718 dollars for the euro dollar.
■Backstage check stocks
・4 stocks, such as Linkers ＜5131＞ and Nomura Micro Science ＜6254＞, are stop-high
*Includes temporary stop height (sign value)
・Tokyo Electron ＜8035＞ is the top contributor to price increases, and Fast Rite ＜9983＞ is in the same 2nd place
■Economic indicators and statements from key figures
[Economic indicators]
・NZ・March trade balance: +588 million NZ dollars (February: -315 million NZ dollars ← -218 million NZ dollars)
・Australian Consumer Price Index for the fiscal year ending January-March: +3.6% compared to the previous year (forecast: +3.5%, October-December period: +4.1%)
・Australian Consumer Price Index for March: +3.5% year-on-year (forecast: +3.4%, February: +3.4%)
[Remarks by VIPs]
・Former US President Trump
“The depreciation of the yen and the appreciation of the dollar for the first time in 34 years were a disaster for America. Due to damage to the domestic manufacturing industry”
＜Domestic＞
・Nothing in particular
＜Overseas＞
・Nothing in particular