ADR (American Depositary Receipt) Japanese stocks, compared to the Tokyo Stock Exchange ($1 = ¥149.93), with companies such as Yucho Bank (7182), Japan Post (6178), Mitsubishi Electric (6503), Takeda Pharmaceuticals (4502), Denso (6902), Marubeni (8002), and Komatsu (6301) experiencing declines, and a general trend of selling. The settlement price for the Chicago Nikkei 225 futures was ¥38,655 ($575) lower than the Osaka-Nichi comparison.
The U.S. stock market rose, with the Dow Jones Industrial Average closing at 40,842.79, up 99.46 ($), and the Nasdaq closing at 17,599.40, up 451.98 points. Prior to the release of the Federal Open Market Committee (FOMC) results, the market was mixed after opening. However, after a series of good financial reports from leading technology companies supported buying, the market stayed resilient throughout the day. Although the Federal Reserve decided to maintain its policy interest rate as expected, Mr. Powell, the chairman, hinted at the possibility of a rate cut in September, which led to continued market growth.
On the New York foreign exchange market on July 31, the dollar-yen rate fell to ¥149.61 and then rebounded to ¥151.22 before dropping again to ¥149.98 at the close. In response to the Bank of Japan's decision to raise interest rates and its hawkish stance, there was renewed focus on additional raises and the yen was bought. Additionally, the ADP employment statistics showed slower than expected growth, which further strengthened the sale of dollars. Despite the Federal Reserve's decision to maintain its policy interest rate, as expected, the currency temporarily strengthened due to the repeated statement that further conviction of approaching its inflation target would be needed for a rate cut. Following Mr. Powell's statement during the September meeting that a rate cut could be an option, dollar selling resumed. The euro-dollar rose to $1.0849 before falling to $1.0802 and closing at $1.0826. The Eurozone consumer price index (CPI) grew beyond expectations, leading to a predominance of euro-buying.
NY crude oil futures for September rose significantly (NYMEX crude oil September futures closing price: $77.91 ↑3.18).
Top ADR gainers (31st)
Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate
<6857> Advantest $43.9 6582 yen (+$5.53) 9.17%
<6501> Hitachi $45.9 3441 yen (+$1.53) 4.65%
<9020> JR East Japan $9.68 2903 yen (+$0.78) 2.76%
<8035> Tokyo Electron $105.15 31530 yen (+$5.10) 1.64%
<5020> ENEOS $10.67 800 yen (+$0.078) 0.98%
Top ADR losers (31st)
Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate
<8830> Sumitomo Realty $14 4198 yen (-$805) -16.09%
<7182> Yucho Bank $9.3 1394 yen (-$181.5) -11.52%
<8750> Dai-ichi Life Holdings $27.8 4168 yen (-$480) -10.33%
<6178> Japan Post $10 1499 yen (-$105) -6.55%
<7259> Aisin Seiki $32.15 4820 yen (-$330) -6.41%
Other ADR stocks (31st)
Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison
<2914> Japan Tobacco $14.6 4378 yen (-$56)
<3382> Seven & I Holdings $11.95 1792 yen (-$0.185)
<4063> Shin-Etsu Chemical $22.17 6648 yen (-$1.00)
Takeda Pharmaceuticals SP ADR is priced at $13.88 or 4162 yen (-140 yen).
Chugai Pharmaceutical Co Ltd is priced at $21.8 or 6537 yen (-72 yen).
Terumo Corporation is priced at $17.84 or 2675 yen (-31 yen).
Daiichi Sankyo Company, Limited is priced at $40.95 or 6140 yen (-8 yen).
Orient Land Co Ltd is priced at $28.28 or 4240 yen (-42 yen).
Fujifilm Holdings Corporation is priced at $11.79 or 3535 yen (-45 yen).
Bridgestone Corporation unsponsored ADR is priced at $20.41 or 6120 yen (-65 yen).
Recruit Holdings Co Ltd is priced at $11.4 or 8546 yen (-112 yen).
DISCO Corporation is priced at $33.3 or 49927 yen (467 yen).
Japan Post Holdings Co Ltd is priced at $10 or 1499 yen (-105 yen).
Toyota Industries Corporation is priced at $83.94 or 12584 yen (-246 yen).
SMC Corporation is priced at $24.45 or 73307 yen (-843 yen).
Komatsu Ltd is priced at $28.47 or 4269 yen (-88 yen).
Daikin Industries, Ltd. unsponsored ADR is priced at $14.48 or 21710 yen (-195 yen).
Hitachi Ltd sponsored ADR is priced at $45.9 or 3441 yen (153 yen).
Mitsubishi Electric Corp. unsponsored ADR is priced at $33 or 2474 yen (-127 yen).
Nidec Corporation is priced at $11 or 6597 yen (-101 yen).
Fujitsu Limited is priced at $17.88 or 2681 yen (-51.5 yen).
Renesas Electronics Corporation is priced at $8.6 or 2579 yen (1 yen).
Sony Group Corp is priced at $88.59 or 13282 yen (-248 yen).
<6857> Advantest $43.9 6582 yen (-553 yen)
<6902> Denso $16.38 2456 yen (-58 yen)
<6954> Fanuc Corp $14.81 4441 yen (-69 yen)
<6981> Murata Manufacturing Co Ltd $11.04 3310 yen (-41 yen)
<7182> Japan Post Bank Co Ltd $9.3 1394 yen (-181.5 yen)
<7203> Toyota Motor $193.55 2902 yen (-47 yen)
<7267> Honda Motor Co Ltd $32.3 1614 yen (-33 yen)
<7741> HOYA Corp $124.78 18708 yen (-232 yen)
<7751> Canon Inc-Spons ADR $31.08 4660 yen (-82 yen)
<7974> Nintendo Co Ltd $13.72 8228 yen (-160 yen)
<8001> ITOCHU Corp $102.3 7669 yen (-114 yen)
<8002> Marubeni Corp $186.61 2798 yen (-62.5 yen)
<8031> Mitsui & Co Ltd $461.35 3459 yen (-71 yen)
<8035> Tokyo Electron Ltd $105.15 31530 yen (510 yen)
<8053> Sumitomo Corp $24.85 3726 yen (-52 yen)
<8058> Mitsubishi Corp $20.71 3105 yen (-39 yen)
<8306> Mitsubishi UFJ Financial Group Inc $11.62 1742 yen (-8 yen)
<8316> Sumitomo Mitsui Financial Group Inc $14.48 10855 yen (-60 yen)
<8411> Mizuho Financial Group Inc $4.62 3463 yen (15 yen)
<8591> ORIX Corp $120.94 3627 yen (-37 yen)
<8725> MS&AD Insurance Holdings, Inc., $23.46, 3517 yen (-65 yen).
<8766> Tokio Marine Holdings, Inc., $39.38, 5904 yen (-118 yen).
<8801> Mitsui Fudosan Co., Ltd., $30.9, 1544 yen (-29.5 yen).
<9432> NTT, $26.63, 160 yen (-0.4 yen).
<9433> KDDI Corporation, $15, 4498 yen (-22 yen).
<9983> First Retailing Co., Ltd., $27.6, 41381 yen (-269 yen).
<9984> SoftBank Group Corp., $30.54, 9158 yen (-4 yen).