ADR (American Depositary Receipt) of Japanese stocks, with a conversion rate of 1 dollar = 155.58 yen compared to the Tokyo Stock Exchange, saw a general sell-off with Yucho Bank <7182>, Japan Post <6178>, Hitachi Ltd <6501>, Takeda Pharmaceuticals <4502>, Nintendo <7974>, Bridgestone Corporation <5108>, Seven & I Holdings <3382> and others falling. The clearing price of Chicago Nikkei 225 futures was 39,500 yen, down 40 yen from the Osaka daytime reference price.

The US stock market fell. The Dow Jones fell 57.35 dollars to 40,358.09 dollars, and the Nasdaq closed at 17,997.35, down 10.22 points. As earnings reports are approaching, there was a cautious atmosphere, and the market opened mixed. In addition, adjustments are ongoing as investors anticipate important inflation and economic indicators to be announced this week. Throughout the day buying and selling decisions were mixed, and strong buying supported by good financial estimates and expectations of an interest rate cut underpinned the market. However, toward the end of the day, prices turned downward and closed lower.

In the New York foreign exchange market on the 23rd, the dollar-yen rate fell from 156.25 yen to 155.58 yen, closing at 155.65 yen. The US existing home sales for June and the Richmond Fed manufacturing index for July both fell below expectations, and in addition, due to the successful results of the 2-year bond auction, the dollar fell due to the decline in long-term interest rates. Also, as expectations for the normalization of policies such as a reduction in the amount of government bond purchases and additional rate hikes at the next Bank of Japan monetary policy meeting grew, expectations of a narrowing of the Japan-US interest rate gap strengthened the yen. The euro-dollar rate fell from 1.0863 dollars to 1.0844 dollars, closing at 1.0850 dollars.

NY crude oil futures for September fell (NYMEX crude oil September futures closing price: 76.96 ↓1.44).

Top-performing ADR stocks (23rd):

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<6594> Nidec Corp $11.38 ¥7082 (+¥295) +4.35%

<9107> Kawasaki Kisen Kaisha $15.76 ¥2452 (+¥56.5) +2.36%

<9503> Kansai Electric Power $8.92 ¥2776 (+¥61) +2.25%

<5401> Nippon Steel Corp $7.23 ¥3375 (+¥55) +1.66%

<5020> ENEOS $10.4 ¥809 (+¥9) +1.13%

ADR stocks with the largest declines (23rd):

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<8830> Sumitomo Realty & Development Co $14 ¥4356 (-¥659) -13.14%

<7182> Japan Post Bank Co $8.8 ¥1369 (-¥168) -10.93%

<8750> Dai-ichi Life Holdings $27.6 ¥4294 (-¥416) -8.83%

<2801> Kikkoman Corp $23.4 ¥1820 (-¥162) -8.17%

<6178> Japan Post Holdings $10 ¥1556 (-¥30.5) -1.92%

Other ADR stocks (23rd):

<2914> Japan Tobacco Inc $14.36 ¥4468 (-¥23)

<3382> Seven & I Holdings Co $11.46 ¥1783 (-¥14)

<4063> Shin-Etsu Chemical Co $21.14 ¥6578 (-¥29)

<4502> Takeda Pharmaceuticals SP ADR is priced at $13.66 or 4250 yen (-42 yen).

<4519> Chugai Pharmaceutical Co Ltd is priced at $19.22 or 5980 yen (-31 yen).

<4543> Terumo Corp is priced at $17.43 or 2712 yen (-13 yen).

<4568> Daiichi Sankyo Co Ltd is priced at $37.76 or 5875 yen (-29 yen).

<4661> Oriental Land Co Ltd is priced at $28.36 or 4412 yen (-27 yen).

<4901> Fujifilm Holdings Corp is priced at $11.9 or 3703 yen (-24 yen).

<5108> Bridgestone Corp Unsponsored ADR is priced at $19.6 or 6099 yen (-49 yen).

<6098> Recruit Holdings Co Ltd is priced at $11.47 or 8924 yen (-58 yen).

<6146> Disco Corp is priced at $31.8 or 49474 yen (-206 yen).

<6178> Japan Post Holdings Co Ltd is priced at $10 or 1556 yen (-30.5 yen).

<6201> Toyota Industries Corp is priced at $84.63 or 13167 yen (-93 yen).

<6273> SMC Corp is priced at $23.95 or 74523 yen (123 yen).

<6301> Komatsu Ltd is priced at $31.31 or 4871 yen (-14 yen).

<6367> Daikin Industries, Ltd. Unsponsored ADR is priced at $14.42 or 22435 yen (-105 yen).

<6501> Hitachi Ltd Sponsored ADR is priced at $43.8 or 3407 yen (-44 yen).

<6503> Mitsubishi Electric Corp. Unsponsored ADR is priced at $34.4 or 2676 yen (-15.5 yen).

<6594> Nidec Corp is priced at $11.38 or 7082 yen (295 yen).

<6702> Fujitsu Ltd is priced at $16.7 or 2598 yen (-1 yen).

<6723> Renesas Electronics Corp is priced at $9.75 or 3034 yen (23 yen).

<6758> Sony Group Corp is priced at $91.67 or 14262 yen (-88 yen).

<6857> Advantest $39 6068 yen (-28 yen)

<6902> Denso $15.86 2467 yen (-18 yen)

<6954> Fanuc Corp. $13.64 4244 yen (-26 yen)

<6981> Murata Manufacturing Co., Ltd. $11.48 3572 yen (-24 yen)

<7182> Japan Post Bank $8.8 1369 yen (-168 yen)

<7203> Toyota Motor $200.79 3124 yen (15 yen)

<7267> Honda Motor Co., Ltd. $32.19 1669 yen (-5 yen)

<7741> HOYA $118.48 18433 yen (-57 yen)

<7751> Canon Inc-Spons ADR $28.34 4409 yen (-26 yen)

<7974> Nintendo Co Ltd $13.52 8414 yen (-79 yen)

<8001> Itochu Corp. $101.91 7928 yen (-8 yen)

<8002> Marubeni Corp. $190.03 2956 yen (-14.5 yen)

<8031> Mitsui & Co., Ltd. $462.71 3599 yen (-23 yen)

<8035> Tokyo Electron Ltd. $99.04 30817 yen (47 yen)

<8053> Sumitomo Corp. $25.35 3944 yen (-25 yen)

<8058> Mitsubishi Corp. $21.05 3275 yen (14 yen)

<8306> Mitsubishi UFJ Financial Group, Inc. $11.41 1775 yen (6 yen)

<8316> Sumitomo Mitsui Financial Group, Inc. $14.2 11046 yen (-54 yen)

<8411> Mizuho Financial Group Inc. $4.5 3501 yen (27 yen)

<8591> Orix Corp $119.61 3722 yen (-2 yen)

<8725> MS&AD Insurance Holdings, $23.63 or 3676 yen (-17 yen).

<8766> Tokio Marine Holdings, Inc., $39.28 or 6111 yen (-6 yen).

<8801> Mitsui Fudosan Co., Ltd., $29.7 or 1540 yen (-7.5 yen).

<9432> NTT, $25.77 or 160 yen (-0.7 yen).

<9433> KDDI Corporation, $14.72 or 4580 yen (-32 yen).

<9983> Fast Retailing Co., Ltd., $26.46 or 41166 yen (-154 yen).

<9984> SoftBank Group Corp., $33.72 or 10492 yen (+112 yen).