On the 17th, the Chicago Nikkei futures (CME).

SEP24

O 38570 (dollar-based)

H 38625

L 37980

C 38470, an increase of 470 from the previous evening in the Tokyo Stock Exchange (+40)

Vol 6552

SEP24

O 38510 (yen-based)

H 38570

L 37920

C 38410, an increase of 410 from the previous evening in the Tokyo Stock Exchange (-20)

Vol 25172

Overview of American Depository Receipts (ADR) on the 17th.

In the ADR market, measured against the Tokyo Stock Exchange (converted at 1 dollar = 157.72 yen), Advantest <6857>, Toyota Motor <7203>, Tokyo Electron <8035>, Mitsubishi UFJ Financial Group <8306>, Honda Motor <7267>, SoftBank Group <9984>, HOYA <7741>, etc. rose, and buying was dominant overall.

Code Company Name Closing Price Price Difference Converted Price Closing Price in Japan

7203 (TM.N) Toyota Motor 195.20 -1.93 3079 43

8306 (MUFG.N) Mitsubishi UFJ Financial Group 9.93 -0.09 1566 21.5

8035 (TOELY) Tokyo Electron 109.55 -1.50 34556 476

6758 (SONY.N) Sony 81.12 -1.10 12794 99

9432 (NTTYY) NTT 22.96 -0.15 145 0.1

8058 (MTSUY) Mitsubishi Corporation 19.73 -0.31 3111 31 6501 (HTHIY) Hitachi Ltd sponsored ADR 213.99 -2.70 16875 150 9983 (FRCOY) Fast Retailing Co Ltd 25.21 -0.21 39761 301 9984 (SFTBY) SoftBank Group Corp. 32.49 0.79 10249 129 4063 (SHECY) Shin-Etsu Chemical Co Ltd 19.03 -0.26 6003 60 8001 (ITOCY) ITOCHU Corporation 94.35 -0.55 7440 61 8316 (SMFG.N) Sumitomo Mitsui Financial Group Inc 12.63 0.01 9960 100 8031 (MITSY) Mitsui & Co Ltd 949.22 -5.86 7486 56 6098 (RCRUY) Recruit Holdings Co Ltd 10.04 0.04 7918 33 4568 (DSNKY) Dainippon Sumitomo Pharma Co Ltd 34.45 0.14 5433 33 9433 (KDDIY) KDDI Corporation 13.24 -0.08 4176 1 7974 (NTDOY) Nintendo Co Ltd 13.34 -0.05 8416 5 8766 (TKOMY) Tokio Marine Holdings Inc 33.79 -0.67 5329 66 7267 (HMC.N) Honda Motor Co Ltd 31.65 -0.39 1664 21.5 2914 (JAPAY) Japan Tobacco Inc 14.24 -0.03 4492 11 6902 (DNZOY) Denso Corp 14.90 -0.26 2350 9 4519 (CHGCY) Sawai Pharmaceutical Co Ltd 15.75 0.10 4968 26 4661 (OLCLY) Orient Land Co Ltd 27.94 0.14 4407 22 8411 (MFG.N) Mizuho Financial Group Inc 3.87 -0.02 3052 28 6367 (DKILY) Daikin Industries Ltd 14.67 0.06 23138 178

6501 (HTHIY) Hitachi Ltd sponsored ADR 213.99 -2.70 16875 150

9983 (FRCOY) Fast Retailing Co Ltd 25.21 -0.21 39761 301

9984 (SFTBY) SoftBank Group Corp. 32.49 0.79 10249 129

4063 (SHECY) Shin-Etsu Chemical Co Ltd 19.03 -0.26 6003 60

8001 (ITOCY) ITOCHU Corporation 94.35 -0.55 7440 61

8316 (SMFG.N) Sumitomo Mitsui Financial Group Inc 12.63 0.01 9960 100

8031 (MITSY) Mitsui & Co Ltd 949.22 -5.86 7486 56

6098 (RCRUY) Recruit Holdings Co Ltd 10.04 0.04 7918 33

4568 (DSNKY) Dainippon Sumitomo Pharma Co Ltd 34.45 0.14 5433 33

9433 (KDDIY) KDDI Corporation 13.24 -0.08 4176 1

7974 (NTDOY) Nintendo Co Ltd 13.34 -0.05 8416 5

8766 (TKOMY) Tokio Marine Holdings Inc 33.79 -0.67 5329 66

7267 (HMC.N) Honda Motor Co Ltd 31.65 -0.39 1664 21.5

2914 (JAPAY) Japan Tobacco Inc 14.24 -0.03 4492 11

6902 (DNZOY) Denso Corp 14.90 -0.26 2350 9

4519 (CHGCY) Sawai Pharmaceutical Co Ltd 15.75 0.10 4968 26

4661 (OLCLY) Orient Land Co Ltd 27.94 0.14 4407 22

8411 (MFG.N) Mizuho Financial Group Inc 3.87 -0.02 3052 28

6367 (DKILY) Daikin Industries Ltd 14.67 0.06 23138 178

4502 (TAK.N) Takeda Pharmaceutical Industries, 13.17, 0.07, 4154, -13. By product structure, the operating income of products with 10-30 billion yen is 401/1288/60 million yen respectively. 7741 (HOCPY) HOYA, 116.07, -1.17, 18307, 227. 6503 (MIELY) Mitsubishi Electric Corp. unsponsored ADR, 32.19, -0.19, 2539, 9. 6981 (MRAAY) Murata Manufacturing Co., Ltd., 10.34, 0.20, 3262, 24. 7751 (CAJPY) Canon Inc., 27.78, -0.28, 4381, 22. 6273 (SMCAY) SMC Corp., 24.52, -0.13, 77346, 846. 7182 (JPPTY) Japan Post Bank Co., Ltd., 8.45, -0.05, 1333, -131.5. 6146 (DSCSY) Disco Corp., 40.90, -0.40, 64507, 627. 3382 (SVNDY) Seven & i Holdings Co., Ltd., 12.70, 0.03, 2003, 5.5. 8053 (SSUMY) Sumitomo Corp., 24.94, -0.38, 3934, 35. 6702 (FJTSY) Fujitsu Ltd., 15.21, -0.10, 2399, 22.5. 6201 (TYIDY) Toyota Industries Corp., 82.70, -0.69, 13043, 103. 5108 (BRDCY) Bridgestone Corp., 20.49, -0.30, 6463, 15. 6178 (JPPHY) Japan Post Holdings Co., Ltd., 9.00, 0.00, 1419, -56. 8002 (MARUY) Marubeni Corp., 190.02, -1.63, 2997, 15. 6723 (RNECY) Renesas Electronics Corp., 10.06, 0.13, 3173, 30. 6954 (FANUY) Fanuc Corp., 13.56, -0.19, 4277, 12. 8725 (MSADY) MS & AD Insurance Group Holdings, Inc., 19.57, -0.13, 3087, 28. 8801 (MTSFY) Mitsui Fudosan Co., Ltd., 27.20, -0.70, 1430, 14. 6301 (KMTUY) Komatsu, 28.03, -0.35, 4421, 42.

7741 (HOCPY) HOYA, 116.07, -1.17, 18307, 227.

6503 (MIELY) Mitsubishi Electric Corp. unsponsored ADR, 32.19, -0.19, 2539, 9.

6981 (MRAAY) Murata Manufacturing Co., Ltd., 10.34, 0.20, 3262, 24.

7751 (CAJPY) Canon Inc., 27.78, -0.28, 4381, 22.

6273 (SMCAY) SMC Corp., 24.52, -0.13, 77346, 846.

7182 (JPPTY) Japan Post Bank Co., Ltd., 8.45, -0.05, 1333, -131.5.

6146 (DSCSY) Disco Corp., 40.90, -0.40, 64507, 627.

3382 (SVNDY) Seven & i Holdings Co., Ltd., 12.70, 0.03, 2003, 5.5.

8053 (SSUMY) Sumitomo Corp., 24.94, -0.38, 3934, 35.

6702 (FJTSY) Fujitsu Ltd., 15.21, -0.10, 2399, 22.5.

6201 (TYIDY) Toyota Industries Corp., 82.70, -0.69, 13043, 103.

5108 (BRDCY) Bridgestone Corp., 20.49, -0.30, 6463, 15.

6178 (JPPHY) Japan Post Holdings Co., Ltd., 9.00, 0.00, 1419, -56.

8002 (MARUY) Marubeni Corp., 190.02, -1.63, 2997, 15.

6723 (RNECY) Renesas Electronics Corp., 10.06, 0.13, 3173, 30.

6954 (FANUY) Fanuc Corp., 13.56, -0.19, 4277, 12.

8725 (MSADY) MS & AD Insurance Group Holdings, Inc., 19.57, -0.13, 3087, 28.

8801 (MTSFY) Mitsui Fudosan Co., Ltd., 27.20, -0.70, 1430, 14.

6301 (KMTUY) Komatsu, 28.03, -0.35, 4421, 42.

4901 (FUJIY) Fujifilm 11.57 -0.15 3650 10; 6594 (NJDCY) Nihon Denso 11.57 -0.42 7299 44; 6857 (ATEYY) Advantest 34.40 -0.90 5426 89; 4543 (TRUMY) Terumo 16.37 -0.12 2582 7.5; 8591 (IX.N) Orix 107.51 0.19 3391 27; (Top 50 companies by market capitalization, converted at 1 dollar to 157.72 yen); "Top 5 ADR increases" (17th); 7259 (ASEKY) Aisin Seiki 39.18 6179 782 14.49; 5401 (NPSCY) Nippon Steel 7.27 3440 136 4.12; 9107 (KAIKY) Kawasaki Kisen 14.88 2347 77 3.39; 6762 (TTDKY) TDK 57.84 9123 260 2.93; 8697 (JPXGY) Japan Exchange Group 11.59 3656 83 2.32; "Top 5 ADR declines" (17th); 7182 (JPPTY) Japan Post Bank 8.45 1333 -131.5 -8.98; 8750 (DLICY) Dai-ichi Life Holdings 22.60 3564 -300 -7.76; 6178 (JPPHY) Japan Post Holdings 9.00 1419 -56 -3.80; 4507 (SGIOY) Shionogi Pharma 9.69 6113 -34 -0.55; 6869 (SSMXY) Sysmex 15.95 2516 -13 -0.51; "Overview of US Stock Market" (17th); Closing Price: 38778.10 Previous day difference: 188.94.

6594 (NJDCY) Nihon Denso 11.57 -0.42 7299 44.

6857 (ATEYY) Advantest 34.40 -0.90 5426 89.

4543 (TRUMY) Terumo 16.37 -0.12 2582 7.5.

8591 (IX.N) Orix 107.51 0.19 3391 27.

(Top 50 companies by market capitalization, converted at 1 dollar to 157.72 yen).

"Top 5 ADR increases" (17th).

コード 　 　 　 銘柄名 　 　 　 　 終値 日本円換算価格 日本終値比 （％）

7259 (ASEKY) Aisin Seiki 39.18 6179 782 14.49.

5401 (NPSCY) Nippon Steel 7.27 3440 136 4.12.

9107 (KAIKY) Kawasaki Kisen 14.88 2347 77 3.39.

6762 (TTDKY) TDK 57.84 9123 260 2.93.

8697 (JPXGY) Japan Exchange Group 11.59 3656 83 2.32.

"Top 5 ADR declines" (17th).

コード 　 　 　 銘柄名 　 　 　 　 終値 日本円換算価格 日本終値比 （％）

7182 (JPPTY) Japan Post Bank 8.45 1333 -131.5 -8.98.

8750 (DLICY) Dai-ichi Life Holdings 22.60 3564 -300 -7.76.

6178 (JPPHY) Japan Post Holdings 9.00 1419 -56 -3.80.

4507 (SGIOY) Shionogi Pharma 9.69 6113 -34 -0.55.

6869 (SSMXY) Sysmex 15.95 2516 -13 -0.51.

"Overview of US Stock Market" (17th).

NYDOW

Closing Price: 38778.10 Previous day difference: 188.94.

Opening price: 38565.18 High price: 38839.88 Low price: 38431.95

Year-to-Date High: 40,003.59, Year-to-Date Low: 37,266.67

Previous Year High: 37,710.10, Previous Year Low: 31,819.14

NASDAQ

Closing price: 17857.02 Change from previous day: 168.14

Opening price: 17697.30 High price: 17935.99 Low price: 17636.36

Year-to-date high: 17857.02 Year-to-date low: 14510.30

Previous Year High: 15,099.18, Previous Year Low: 10,305.24

S&P 500

Closing price: 5473.23 Change from previous day: 41.63

Opening price: 5431.11 High price: 5488.50 Low price: 5420.40

Year-to-date high: 5473.23 Year-to-date low: 4688.68

Previous Year High: 4,783.35, Previous Year Low: 3,808.10

US 30-year Treasury bond yield: 4.408% US 10-year Treasury bond yield: 4.281%

The US stock market rose. The Dow Jones Industrial Average closed at 38,778.10, up 188.94 points, and the Nasdaq closed at 17,857.02, up 168.14 points.

Concerned about the confusion in French politics and the cautious stance of the Federal Reserve Board (FRB) on interest rate cuts, the market fell after the opening, then turned to buying expectations for a soft landing, and remained strong throughout the day. Towards the end of the day, the increase expanded, and the Nasdaq exceeded its previous record high for several days in a row. By sector, auto and auto parts rose, while property management and development fell.

Electric vehicle maker Tesla (TSLA) rose as it was reported that China's Shanghai City had allowed demonstration of its self-driving support system. Capri Holdings Ltd (CPRI), which operates brands such as Michael Kors, rose on an investment upgrade by analysts. Software company Autodesk (ADSK) was bought after investor Starboard Value acquired $500 million worth of the company's shares. Best Buy (BBY), an electronics retailer, rose on an investment upgrade by analysts. Software maker Adobe (ADBE) fell as the Fair Trade Commission sued the company over cancellation fees for clients.

Residential construction company Lennar (LEN) announced quarterly earnings after the close of trading that exceeded expectations, and is being bought in extended hours trading.

(Horiko Capital Management LLC)