[Nikkei Stock Average and TOPIX (Table)]
Nikkei average; 39543.61; -87.45 TOPIX; 2827.05; +2.77 On the 2nd, the Nikkei average opened lower for the first time in 3 days at 39,543.61 yen, down 87.45 yen. On the previous day, the U.S. stock market rebounded. The Dow Jones average closed at 39,169.52, up 50.66 dollars, and the Nasdaq index closed at 17,879.30, up 146.70 points. In the European stock market, buying was supported after France's election results were well received. However, the market reversed due to concerns of growth slowdown as the June ISM manufacturing sentiment index fell slightly below market expectations, showing a contraction in activity for the third consecutive month. The rise in long-term interest rates also weighed on the market, with the Dow Jones average hovering around the previous day's closing price. The Nasdaq index was supported by purchases of Microsoft and other companies with strong expectations for artificial intelligence (AI).
Today's Tokyo stock market opened with selling pressure. The relatively high stock prices were felt due to the rise in U.S. long-term interest rates in overseas markets yesterday. In addition, a greater caution about exchange interventions was felt as the foreign exchange market swung further towards the weaker yen and stronger dollar from around JPY 161.50 per dollar from around 3:00 p.m. yesterday, which became an obstacle to buying. Furthermore, some viewed that the short-term market situation was not strong, as the Nikkei average yesterday failed to surpass the ¥40,000 milestone level after rising in the morning. On the other hand, the rise in major stock indices in the U.S. stock market yesterday supported the Tokyo market. Also, amid concerns about European political instability, the French CAC40 index rose over 1% yesterday after the first round of voting in the French National Assembly elections, as did the British FTSE TM100 and the German DAX, thus providing a sense of relief to the Tokyo market. In addition, even if there were intervention concerns, some viewed that a further weakening of the yen and strengthening of the dollar would be a factor to push up the profits of export firms, supporting the stock prices of those export-related firms. However, selling was dominant at the opening stage.
[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.
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In the sector rankings, pulp and paper, marine transportation, chemicals, wholesale trade and warehouse transport were among the top decliners, while insurance, mining, banking, precision instruments and oil and coal products were among the top gainers. In terms of trading volume in the Tokyo Stock Exchange Prime Market, Softbank G <9984>, OLC <4661>, Mitsui & Co. <8031>, Itochu <8001>, Laser Tech <6920>, Toshiba <8035>, Sociomax <6526>, Keyence <6861>, Daikin <6367>, Sekisui House <1928>, Shin-Etsu Chemical <4063>, Recruit HD <6098>, and Nippon Steel <5401> have declined. On the other hand, Daiichi Sankyo <4568>, Subaru <7270>, Mitsubishi Heavy Industries <7011>, Dai-ichi Life HD <8750>, Kawasaki Kisen <9107>, Mitsubishi UFJ <8306>, MS&AD <8725>, Mitsukoshi Isetan <3099>, IHI <7013>, Hoya <7741>, Japan Post Bank <7182>, and Mizuho <8411> are rising.
In the sector rankings, pulp and paper, marine transport, chemicals, wholesale trade, and warehouse transportation were among the top declining sectors, while insurance, mining, banking, precision instruments and oil & coal products were among the top gaining sectors. The top traded issues by trading value on the TSE prime market were SoftBank Group <9984>, OLC <4661>, Mitsui & Co. <8031>, Itochu <8001>, Laser Tech <6920>, Toshiba <8035>, Sociomax <6526>, Keyence <6861>, Daikin <6367>, Sekisui House <1928>, Shin-Etsu Chemical <4063>, Recruit HD <6098>, and Nippon Steel <5401>, which declined. On the other hand, Daiichi Sankyo <4568>, Subaru Corp Unsponsored ADR <7270>, Mitsubishi Heavy Industries <7011>, Dai-ichi Life Holdings <8750>, Kawasaki Kisen <9107>, Mitsubishi UFJ Financial <8306>, MS&AD Holdings <8725>, Mitsukoshi Isetan <3099>, IHI <7013>, HOYA <7741>, Japan Post Bank <7182>, and Mizuho Financial <8411> rose.