In the morning session eight days ago, there were three points to pay attention to.
Expectations for the activity of laser tech.
Honda's operating profit increased by 22.9% to 484.7 billion yen in the first quarter.
In the morning session, Toyota has decided to maintain its component prices for the second half of this fiscal year and this applies to large corporations as well.
Expectations for the activity of laser tech.
In the Japanese stock market on the 8th, after the round of selling, it seems to be aimed at the stance of watching the firmness of the downside and targeting the dip. On the US market on the 7th, the NY Dow fell 234 dollars, and the Nasdaq fell 171 points. While there was a movement of buy-backs accompanying the easing of worries about economic downturn, the long-term interest rates in the United States rose due to weak results in the 10-year bond auction, turning into a fall. Tokyo Nikkei 225 futures clearing price was 34,370 yen, down 700 yen from Osaka. The yen exchange rate is hovering around 145.50 yen to the dollar.
It is likely to start with selling ahead of buying as it follows the trend of squeezing Chicago futures. Yesterday's Nikkei average stock price recovered 35,000 yen in autonomous rebound. However, in the United States, it offsets the rebound part of the previous day, and the Nikkei 225 futures cancel the rise part during the night session, so it is likely to be a nervous market development with high volatility today. Although the price movement of the index was significant, the Nikkei average stock price yesterday was up 414 yen, but the daytime range exceeded 2,000 yen.
As the price fluctuation is large and easily swayed by futures, it is also easy to be cautious about waiting for the dip. Therefore, it seems that it is necessary to confirm a clear bottoming out in the short term. The -2σ of the Bollinger Bands for the Nikkei Stock Average is hovering around 34,050 yen, so it is likely that it will be aimed at the stance of waiting for a dip once it approaches the same level. Conversely, if it seems to break below the same level, there is a possibility that the bias towards the downside will increase. In the United States, Nvidia fell 5%. The resistance line of the 75-day line that broke through recently is likely to be recognized as a resistance, leading to difficulty in handling high-tech stocks. In the Tokyo market, if Laser Tech<6920>, which announced its earnings yesterday evening, shows signs of pulling back, there is a possibility that it will lead to a slightly improved sentiment. In addition, individual responses based on earnings are easy to lean towards and those that announced their earnings last night, Rakuten Bank<5838>, Decerials<4980>, Nippon Paper<3863>, Kubota<6326>, Sumitomo Mining<5713>, Mitsubishi Ma<5711>, Fukuoka<8354>, THK<6481>, Nippatsu<5991>, and Nissho Catalyst<4114>, are attracting attention.
In the United States, Nvidia fell by 5%. The 75-day moving average, which was just below, is likely to be seen as a resistance line, making it difficult to deal with technology stocks. In the Tokyo market, Laser Tech <6920>, which announced its earnings last night, seems to be showing signs of activity, which could lead to a slight improvement in sentiment. In addition, individual responses based on earnings should be directed more easily, with attention focused on Rakuten Bank <5838>, Dexerials <4980>, Nihon Paper <3863>, Kubota <6326>, Sumitomo Mining <5713>, Mitsubishi Ma <5711>, Fukuoka <8354>, THK <6481>, Nippatsu <5991>, and Nisshoku <4114> among others.
Honda's operating profit increased by 22.9% to 484.7 billion yen in the first quarter.
For the first quarter of the fiscal year ending March 2025, Honda <7267> announced that its sales revenue increased by 16.9% YoY to 5 trillion 404.858 billion yen, and its operating profit increased by 22.9% YoY to 484.705 billion yen, exceeding the consensus estimate of around 473 billion yen. The global sales of the two-wheeled business increased with a focus on India and Brazil. Sales of the four-wheeled business continued to be strong, driven by the demand for hybrid models.
Materials of concern in the morning session
Nikkei Average is up (35,089.62, +414.16)
US crude oil futures are up (75.23, +2.03)
Expectations for inflation to ease in the US.
Active share buybacks
Request for improvement in corporate value by the Tokyo Stock Exchange.
Toyota Industries <7203> will maintain component prices for the second half of this fiscal year, and large corporations will also be subject to this.
Hori Manufacturing <6856> will commission medical devices in India and outsourced production in Indonesia.
Chubu Electric Power <9502> raises 0.8 billion yen from AES Energy, group company JERA and Nichinichi Electric Power.
Sumitomo Chemical <4005> sells shares in joint venture in Saudi Arabia, resulting in a loss of 27 billion yen.
NTT Data G <9613> collaborates with Nine Hours and others to solve sleep issues and launch capsule hotels.
Fuji Soft <9749> is being acquired by US-based KKR for a total of 600 billion yen, with the aim of being delisted through a tender offer.
Osaka Gas <9532> has sold some of the shares of its gas pipeline construction subsidiary, Osaka Gas Network, to JFE Engineering.
Marubeni <8002> CEO of Energy Infrastructure Solutions Group is co-creating decarbonization in the Middle East and Southeast Asia.
NTT <9432> launches a new company with chain-type AI to optimize its supply network.
Marklines <3901> expands the functionality of its vehicle disassembly and measurement, opening a new location in Atsugi City, Kanagawa Prefecture.
Bridgestone <5108> is improving the equipment at its Kitakyushu plant and strengthening its mining vehicle tires.
Toyota Group's Toyota Mobility Foundation uses AI to detect and remove obstacles on the road.
Yamazaki <6147> President Yoshiwa Yamazaki is enjoying strong demand for outsourced machine tools.
Mitsubishi Heavy Industries <7011> and the Quantum Science and Technology Research and Development Organization are scaling up actual production of heat receiving equipment for a nuclear fusion experiment in southern France.
- Anritsu <6754> cooperates with Taiwan Co., Ltd. to conduct 5G wireless open connection tests. - Asics <7936> and Dassault Systems of France demonstrated a custom insole system. - Panasonic HD <6752> utilizes waste heat from fuel cells to reduce the electricity consumption of air conditioners. - Money Forward <3994> cooperates with Merpay. - Nippon Paper <3863> reorganizes domestic production of graphic paper. - Takiron C.I. <4215> increases beverage packaging materials production by 9,000 tons per year in North America. - Daiichi Kogyo Seiyaku <4461> releases additives that gel LiB electrolytes to prevent leakage. - Sumitomo Bakelite <4203> develops resin molding materials that are highly refractory and suitable for EV batteries to suppress thermal runaway. - Mitsubishi Materials <5711> establishes a European integrated resource recycling company in the Netherlands. - 08:50 The major opinions at the Bank of Japan's monetary policy meeting (July 30-31). - 08:50 June current account balance (estimate: +1865 billion yen, May: +2,849.9 billion yen).
- Asics <7936> and Dassault Systems of France demonstrated a custom insole system.
- Panasonic HD <6752> utilizes waste heat from fuel cells to reduce the electricity consumption of air conditioners.
- Money Forward <3994> cooperates with Merpay.
- Nippon Paper <3863> reorganizes domestic production of graphic paper.
- Takiron C.I. <4215> increases beverage packaging materials production by 9,000 tons per year in North America.
- Daiichi Kogyo Seiyaku <4461> releases additives that gel LiB electrolytes to prevent leakage.
- Sumitomo Bakelite <4203> develops resin molding materials that are highly refractory and suitable for EV batteries to suppress thermal runaway.
- Mitsubishi Materials <5711> establishes a European integrated resource recycling company in the Netherlands.
☆ Schedule of events in the morning session
- 08:50 The major opinions at the Bank of Japan's monetary policy meeting (July 30-31).
- 08:50 June current account balance (estimate: +1865 billion yen, May: +2,849.9 billion yen).
Not applicable.