ADR (American depositary receipt) of Japanese stocks fell in comparison to the Tokyo Stock Exchange (converted at 1 USD = 146.57 yen), and companies such as Japan Post Bank <7182>, Nintendo <7974>, Japan Tobacco Inc. <2914>, Mitsubishi Electric Corp. <6503>, MS&AD Insurance Group Holdings, Inc. <8725>, Mitsubishi UFJ Financial Group, Inc. <8306>, Renesas Electronics Corporation <6723> all sold off, creating a dominant sell-off trend overall. Settlement value of Chicago Nikkei 225 futures vs. Osaka day-night comparison was at 34,950 yen, a decrease of 970 yen.
The U.S. stock market sharply declined. The Dow Jones Industrial Average ended the session at 39,737.26, down 610.71 points, and the Nasdaq finished at 16,776.16, down by 417.98 points. After disappointing July employment statistics below expectations, concern over economic slowdowns pushed prices down. Concerns over a recession also rose, further fueling the sell-off which led prices to undergo an overall sluggish decline for the day. Certain high-tech companies missed expectations in their financial reports and the market expanded the loss margin toward the end of the session resulting in its closing.
USD/JPY fell from 149.07 yen to 146.42 yen in the foreign exchange market outside of New York on the 2nd, ending at 146.52 yen. Unexpected increases in the unemployment rate in U.S. employment statistics for July, as well as a slowdown in the growth of non-farm payroll employees and the average hourly wage, raised concerns over an economic recession, and with the revised value of June's durable goods orders and manufacturing orders declining significantly due to the pandemic, expectations of large cuts in interest rates led to increased pressure for selling of dollars. EUR/USD rose from 1.0829 dollars to 1.0927 dollars and ended at 1.0910 dollars.
In the NY August crude oil futures market, oil prices continued to decline (NYMEX crude oil August closing price: 73.52, down by 2.79).
Top ADR stock growth rates (2nd day)
Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate
<4689> LINE Yahoo 5.1 dollars 374 yen (23.4 yen) +6.67%
<2801> Kikkoman 24.1 dollars 1766 yen (36.5 yen) +2.11%
<2587> Suntory Food & Beverage 17.46 dollars 5118 yen (4 yen) +0.08%
<1925> Daiwa House Industry Co., Ltd. 27.43 dollars, 4020 yen (-24 yen) -0.59%
<8801> Mitsubishi Estate Co., Ltd. 27.8 dollars, 1358 yen (-13 yen) -0.95%
Top ADR stock decline rates (2nd day)
Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate
<8750> The Dai-ichi Life Insurance Company, Limited 24 dollars, 3518 yen (-593 yen) -14.42%
<7182> Japan Post Bank Co., Ltd. 9.05 dollars, 1326 yen (-184.5 yen) -12.21%
<7974> Nintendo Co., Ltd. 11.89 dollars, 6971 yen (-944 yen) -11.93%
<9107> Kawasaki Kisen Kaisha, Ltd. 13.31 dollars, 1951 yen (-204 yen) -9.47%
<2914> Japan Tobacco Inc. 13.15 dollars, 3855 yen (-298 yen) -7.18%
Other ADR stocks (2nd day)
Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison
<2914> Japan Tobacco Inc. 13.15 dollars, 3855 yen (-298 yen)
<3382> Seven & i Holdings Co., Ltd. 11.94 dollars, 1751 yen (-40 yen)
<4063> Shin-Etsu Chemical Co., Ltd. 19.48 dollars, 5710 yen (-211 yen)
<4502> Takeda Pharmaceutical Co., Ltd. 14.08 dollars, 4127 yen (-61 yen)
<4519> Chugai Pharmaceutical Co., Ltd. 21.43 dollars, 6282 yen (-118 yen)
<4543> Terumo Corporation 16.42 dollars, 2407 yen (-57.5 yen)
<4568> Daiichi Sankyo, $36.38, 5,332 yen (-138 yen).
<4661> Oriental Land, $26.64, 3,905 yen (-109 yen).
<4901> Fujifilm, $10.57, 3,098 yen (-101 yen).
<5108> Bridgestone Corporation unsponsored ADR, $19.04, 5,581 yen (-143 yen).
<6098> Recruit Holdings, $10.43, 7,644 yen (-238 yen).
<6146> Disco, $28.9, 42,359 yen (-2,241 yen).
<6178> Japan Post, $10.00, 1,466 yen (-39 yen).
<6201> Toyota Industries Corporation, $71.50, 10,480 yen (-535 yen).
<6273> SMC Corporation, $22.46, 65,839 yen (-1,661 yen).
Komatsu, $25.51, 3,739 yen (-149 yen).
Daikin Industries, Ltd. unsponsored ADR, $13.20, 19,347 yen (-518 yen).
Hitachi Ltd Sponsored ADR, $40.39, 2,960 yen (-133 yen).
Mitsubishi Electric Corp. unsponsored ADR, $28.19, 2,066 yen (-134 yen).
Nidec Corporation, $10.26, 6,015 yen (-251 yen).
Fujitsu Limited, $15.91, 2,332 yen (-68.5 yen).
Renesas Electronics Corporation, $7.10, 2,081 yen (-111 yen).
Sony Group Corp, $81.61, 11,962 yen (-253 yen).
Advantest Corporation, $41.40, 6,068 yen (-245 yen).
Denso Corporation, $14.57, 2,136 yen (-104 yen).
Fanuc Corp, $13.53, 3,966 yen (-102 yen).
MURATA MFG CO LTD, 9.82 dollars, 2879 yen (-109.5 yen).
JAPAN POST BANK CO LTD, 9.05 dollars, 1326 yen (-184.5 yen).
Toyota Motor Corporation, 173.02 dollars, 2536 yen (-49 yen).
Honda Motor Co Ltd, 30.03 dollars, 1467 yen (-55 yen).
HOYA CORPORATION, 116 dollars, 17002 yen (-583 yen).
Canon Inc-Spons ADR, 27.97 dollars, 4100 yen (-123 yen).
Nintendo Co Ltd, 11.89 dollars, 6971 yen (-944 yen).
ITOCHU Corporation, 90.52 dollars, 6634 yen (-250 yen).
MARUBENI CORPORATION, 156.03 dollars, 2287 yen (-120 yen).
MITSUI & CO LTD, 394.66 dollars, 2892 yen (-148 yen).
TOKYO ELECTRIC POWER COMPANY HOLDINGS INC, 88.38 dollars, 25908 yen (-1147 yen).
SUMITOMO CORPORATION, 21.96 dollars, 3219 yen (-136 yen).
MITSUBISHI CORPORATION, 18.59 dollars, 2725 yen (-114 yen).
MITSUBISHI UFJ FINANCIAL GROUP INC, 9.82 dollars, 1439 yen (-77 yen).
MITSUI & CO INSURANCE LTD, 12.53 dollars, 9183 yen (-479 yen).
MIZUHO FINANCIAL GROUP INC, 4.07 dollars, 2983 yen (-71 yen).
ORIX CORPORATION, 105.68 dollars, 3098 yen (-83 yen).
MS & AD INSURANCE GROUP HOLDINGS INC, 19.8 dollars, 2902 yen (-168 yen).
Tokio Marine Holdings Inc, 33.05 dollars, 4844 yen (-202 yen).
A-REIT ETF, 27.8 dollars, 1358 yen (-13 yen).
<9432> NTT $25.55 150 yen (-2.9 yen)
<9433> KDDI Corporation $14.68 4,303 yen (-73 yen)
<9983> Fast Retailing $27.04 39,633 yen (-707 yen)
<9984> SoftBank Group $25.89 7,589 yen (-279 yen)