[Nikkei Stock Average and TOPIX (Table)]
Nikkei Average; 38,841.66; +351.49
TOPIX; 2,765.41; +17.19
[Sector]: Mining, insurance, banking, transportation equipment, wholesale trade, etc. are the top decliners, while pharmaceuticals, precision instruments, and electric and gas industries rose. The turnover of the Tokyo Stock Exchange Prime includes Laser Tech <6920>, Mirrors HD <8897>, Kawasaki Shipbuilding <9107>, Dai-ichi Life HD <8750>, Recruit HD <6098>, Marubeni <8002>, Mitsui & Co. <8031>, Honda <7267>, SMC <6273>, INPEX <1605>, Nissan Motor <7201>, and Nomura <8604>, all of which fell. Meanwhile, Nitori Holdings <9843>, Rakuten Group <4755>, and Daiichi Sankyo <4568>, among others, have risen.
On the 6th, the Nikkei average started trading up 351.49 yen at 38,841.66 yen, a rebound after 3 days. US stock markets rose the previous day on May 5. The Dow Jones Average closed at 38,807.33 dollars, up 96.04 dollars, and the Nasdaq closed at 17,187.91, up 330.86 points. Due to weaker-than-expected growth in the ADP employment statistics for the private sector, buying ahead of expectations of an early interest rate cut pushed up stock prices after the opening. Later, the ISM Non-Manufacturing Business Conditions Index, which was released, improved more than expected in the growth area, causing the Dow to turn downward as long-term interest rates rose, but rebounded again toward the end of the day due to persistent expectations for an interest rate cut this year. The Nasdaq continued to be strong throughout the day, with Nvidia's semiconductor stock leading the index higher for consecutive days, ending at a record high.
Buying preceded today's Tokyo stock market. The rise of major indices in the US stock market yesterday supported Tokyo's stock market. In particular, the Nasdaq Composite Index, which has a high ratio of high-tech stocks, rose 1.96%, while the Philadelphia Semiconductor Index, which consists of major semiconductor-related stocks, rose 4.52%, and was a factor supporting the price of high-tech and semiconductor-related stocks in the Tokyo market, compared to the Dow Jones, which rose 0.25%. However, some investors refrained from actively buying, saying they wanted to assess tomorrow's highly anticipated May US employment statistics. On the other hand, some said that the market was weak again, as the Nikkei average yesterday fell below the 25-day moving average at around 38,500 yen, but buying was dominant in the opening stages. According to the situation (weekly) of securities sales agreements with foreign and domestic parties announced before the start of trading, foreign investors bought domestic stocks for the sixth consecutive week from May 26 to June 1. The amount of purchases exceeded sales by 282 billion yen.
In terms of sectors, oil and coal products, transportation equipment, securities and commodity futures, nonferrous metals, and insurance industries have the highest rate of increase, while textile products, air transportation, banking, real estate, and aquatic and agricultural industries have the highest rate of decline. In terms of market capitalization on the Tokyo Stock Exchange Prime, TOWA <6315>, Advantest <6857>, SoftBank Group <9984>, TDK <8035>, Renesas <6723>, Disco <6146>, NEC <6701>, Asics <7936>, Daiichi Sankyo <4568>, Sociomover <6526>, Mitsubishi Heavy Industries <7011>, Toyota <7203> and others rose. On the other hand, Laser Tech <6920>, Recruit HD <6098>, JT <2914>, Mercari <4385>, NTT <9432>, Nissan <7201>, and Mizuho <8411> fell.