I would like to pay attention to the following 3 points in after-sale transactions on the 30th.
・The Nikkei Average depreciated drastically and continued to fall for 3 days, and high-tech stocks led the decline due to rising interest rates due to depreciation in US stocks
・The dollar and yen weakened, and declined ahead of yen purchases
・The top contributor to price drops is Fast Rite ＜9983＞, and Advantest ＜6857＞ is in the same 2nd place
■The Nikkei Average depreciated drastically and continued to fall for 3 days, leading the decline in high-tech stocks due to rising interest rates due to depreciation in US stocks
The Nikkei Average fell drastically and continued to fall for 3 days. The forward market transaction was closed at 37974.47 yen (estimated turnover of 830 million shares), 582.40 yen lower (-1.51%) compared to the previous day.
The US stock market declined on the 29th. The Dow average closed at 38441.54 dollars (-1.06%) lower by 411.32 dollars (-1.06%), the Nasdaq closed at 16920.58, which was 99.30 points lower (-0.58%), and the S&P 500 closed at 5266.95, which was 39.09 points lower (-0.74%). It fell after being close to sales that were wary of rising long-term interest rates. In response to the sluggish results of 7-year bond bidding and the Regional Federal Bank Economic Report (Beige Book), they were sold further when interest rates rose further. The NASDAQ was also pushed by profit-taking sales from near record highs, and the market price remained soft throughout the day and ended.
In response to the depreciation of US stocks, the Tokyo market began trading with a selling advantage. After the Nikkei Average started with a drop of over 400 yen from the previous day, sales consolidated into 225 futures due to rising long-term interest rates, and the decline widened. It fell to 37617.00 yen at one point to the level it had been since 4/26. The decline narrowed after a round of sales, but the weakening of the Nikkei Average was conspicuous compared to TOPIX due to the impact of the decline in high-value semiconductor stocks.
Among stocks adopted by the Nikkei Average, the semiconductor-related Advantest ＜6857＞ fell sharply, and Tokyo Electron ＜8035＞ and Renesas Electronics (6723) also declined. In addition, Mitsubishi Electric (6503), Nissan Chemical (4021), FANUC (6954), and SoftBank Group (9984) were sold.
Meanwhile, GS Yuasa ＜6674＞ was bought based on positive reports from securities companies, and regional bank stocks such as Chiba Bank ＜8331＞, Fukuoka Financial Group ＜8354＞, and Resona Holdings＜8308＞ continued to rise in response to rising interest rates. Additionally, Sharp ＜6753＞, Takashimaya ＜8233＞, and Otsuka Holdings ＜4578＞ were bought.
By industry, while mining, wholesale, non-ferrous metals, electrical equipment, securities/commodity futures trading businesses, etc. declined, only 5 sectors rose, pulp/paper, warehousing/transportation-related businesses, and other products, banking, and textile products.
The upward trend continues, with yields on new 10-year government bonds, which are indicators of long-term interest rates, temporarily rising to 1.100%. Observations that the Bank of Japan will raise interest rates in July have also surfaced, and the bond market is speculatively ahead. In the stock market, it is a support material for financial stocks such as banks and insurance, but rising interest rates, mainly growth stocks such as high-tech, are selling material, and a negative impact is ahead of the Nikkei Average. There seems to be a slight rebound against the sharp fall in the morning in the backstage of the Tokyo market, but TOPIX rebalance will be implemented in a big close. Since supply and demand events are ahead, it seems that movements that actively pick up attention can be refrained.
■The dollar and yen are soft, and they are falling ahead of yen purchases
The dollar and yen were in a soft position in the Tokyo market on the morning of the 30th, and the price dropped from 157 yen 67 yen to 157 yen 30 yen. Dollar purchases have come to an end once the rise in US 10-year bond yields has come to an end. Meanwhile, speculation about financial normalization spread due to the rise in long-term interest rates in Japan, and the trend of depreciation of Japanese stocks and yen buying swings.
The trading range up to this point has been from 157 yen 30 yen to 157 yen 67 sen for the dollar and yen, 169 yen 84 yen to 170 yen 32 sen, and the euro dollar from 1.0795 dollars to 1.0805 dollars. Ro yen ranges from 170 yen 57 yen to 170 yen 79 sen, and euro dollars range from 1.0847 dollars to 1.0859 dollars.
■Backstage check stocks
・4 brands, such as Hotlink ＜3680＞ and Awa Paper ＜3896＞, etc., are stop-high
*Includes temporary stop height (sign value)
・The top contributor to price drops is Fast Rite ＜9983＞, and Advantest ＜6857＞ is in the same 2nd place
■Economic indicators and statements from key figures
[Economic indicators]
・US-May Richmond Fed Manufacturing Index: 0 (forecast: -7, April: -7)
・Preliminary German Consumer Price Index for May: +2.4% compared to previous year (forecast: +2.4%, April: +2.2%)
[Remarks by VIPs]
・U.S. Atlanta Fed President Bostic
“The path to 2% inflation is uncertain, and we need to be careful”
“Interest rate cuts will probably be possible in the fourth quarter”
・Swiss National Bank Governor Jordan
“There is a slight risk of an increase in the inflation rate”
＜Domestic＞
Nothing in particular
＜Overseas＞
・ 16:00 Switzerland GDP for the fiscal year ending January-March (year-on-year forecast: +0.7%, 10-12: +0.6%)