[Nikkei Stock Average and TOPIX (Table)]
The Nikkei Average rose +251.47 to 39,593.01.
The TOPIX rose +15.51 to 2,809.21.
[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.
The Nikkei Average rebounded and started trading at 39,593.01 yen, up 251.47 yen on the 28th. On the previous day, the U.S. stock market rose slightly. The Dow Jones Industrial Average closed at 39,164.06, up 36.26 dollars, and the Nasdaq Composite Index closed at 17,858.68, up 53.53 points. Morning prices fell as bleak corporate earnings from Micron and Walgreens Boots Alliance chilled investor sentiment. The release of the May PCE price index, which the FRB is focusing on, was pending, but skepticism about the sustainability of the artificial intelligence (AI) boom arose due to Micron's unsatisfactory outlook, and semiconductor stocks such as Nvidia were sold. On the other hand, major tech stocks like Amazon.com and Apple, which reached a market capitalization of 2 trillion dollars the previous day, continued to be bought, supporting the market.
Buying ahead prevailed in today's Tokyo stock market. This was supported by the fact that the major three indices (Dow Jones, Nasdaq Composite, and S&P500) rose slightly in the U.S. stock market yesterday. In addition, the decline in long-term U.S. interest rates in overseas markets yesterday provided a sense of relief. Furthermore, as yesterday's Nikkei Average fell more than 300 yen, it was easy to enter the market with a buy-on-dip mentality. On the other hand, although the major three indices rose in the U.S. stock market yesterday, the Philadelphia semiconductor stock index (SOX index) consisting of major semiconductor-related stocks continued to fall, weighing on semiconductor-related stocks in the Tokyo market. Moreover, although some investors wanted to wait and see the release of the May PCE price index that the Federal Reserve Board (FRB) is said to be focusing on tonight in the United States, the buy-side prevailed at the opening stage. Additionally, the Tokyo metropolitan area consumer price index (CPI, mid-month preliminary value) for June, which was announced before the start of trading, showed that the overall index excluding fresh food rose 2.1% from the same month last year. The market's median forecast compiled by QUICK was a 2.0% increase. Also announced before the start of trading were the seasonally adjusted complete unemployment rate for May of 2.6%, the job availability ratio for May of 1.24 times, and the mining and manufacturing production index (seasonally adjusted) preliminary value for May, which rose 2.8% from the previous month. Today, Logos Holdings <205A> was listed on the Tokyo Stock Exchange Growth Market.
In terms of sectors, insurance, securities futures, mining, banks, and other financials rose, while electrical and gas utilities, air transport, and other products declined. On the Tokyo Stock Exchange Prime, Mitsubishi Heavy Industries <7011>, MS&AD <8725>, Kawasaki Heavy Industries <7012>, IHI <7013>, Sony Group Corp <6758>, Sumitomo Mitsui <8316>, SoftBank Group <9984>, MUFG <8306>, Japan Post <6178>, ORIX <8591>, Sosei Next <6526>, Tokio Marine <8766>, Komatsu <6301>, etc. rose. On the other hand, Asics <7936>, Shiseido Company, Limited <4911>, Hokkaido Electric Power <9509>, Hitachi <6501>, Nidec Corporation Sponsored ADR <6594>, NEC <6701>, Keyence <6861>, Fast Retailing <9983>, etc. fell.