In the afternoon of the 15th trading, the market should focus on the following three points.

- Nikkei average has risen for four consecutive days, with a steady increase in financial stocks.

- The dollar-yen rate is steady, continuing the rise in Japanese stocks.

The top contributors to the rise were First Retail and East Electric.

Nikkei average has risen for four consecutive days, with a steady increase in financial stocks.

The Nikkei Average rose for 4 consecutive days. The morning session ended at  36,808.75 (+366.32 yen, +1.01%) (volume: approximately 0.8 billion 80 million shares). In terms of product structure, the operating income of 10-30 billion yen products were respectively 401/1288/60 million yen.

The US stock market rose on the 14th. The Dow Jones rose 242.75 points (+0.61%) to 40008.39. Nasdaq rose 4.99 points (+0.03%) to 17192.60, and the S&P500 closed at 5455.21 (+20.78 points, +0.38%). With the confirmation of continued inflation slowdown in the July Consumer Price Index (CPI) and the expectation of a rate cut, buying continued after the market opened, followed by a rise. At the same time, as expected, the purchase expectation of aggressive interest rate cuts retreated, and Nasdaq subsequently turned downward. The pessimistic view on the economy retreated and Dow rose and expanded its gain towards the end of the day. Nasdaq barely returned to positive territory and closed.

Tokyo market opened with a buying preference as it was seen as a positive sign for the announcement of the real Gross Domestic Product (GDP) of year-over-year 3.1% growth, the first in two quarters. The Nikkei Average rose to the 36,800 yen range from a calm exchange rate of 147 yen and a half per dollar. The trading volume on the prime market in the morning was 2.2 trillion yen, which decreased compared to last week, and financial stocks, such as mega banks, were bought, making TOPIX dominant.

Among the stocks adopted for the Nikkei Average, Dentsu Group <4324> was bought following the earnings report. In addition, some defense and aerospace-related stocks, such as Kawasaki Heavy Industries <7012>, Mitsubishi Heavy Industries <7011>, and Mitsubishi Electric <6503>, have risen. Financial stocks, such as Mizuho FG <8411>, Sumitomo Mitsui FG <8316>, Nomura Holdings <8604>, and Mitsubishi UFJ FG <8306>, were generally bought. In addition, Furukawa Electric <5801>, Disco <6146>, Laser Tech <6920>, and Mitsui Chemicals <4183> rose.

On the other hand, domestic demand stocks such as ZOZO <3092>, Aeon <8267>, and Nitori Holdings <9843> were slightly weak, and Keyence <6861>, Murata Manufacturing <6981>, and MinebeaMitsumi <6479> were unremarkable. In addition, the Sony Group <6758>, Shiseido <4911>, and Shimizu Construction <1803> declined.

In terms of global sectors, petroleum and coal products, banks, securities and commodity futures trading, non-ferrous metals, and transportation equipment rose, while only 2 sectors, service industry and land transportation, fell.

At present, the return of financial stocks, such as mega banks, which have fallen sharply, is prominent. As the benchmark for long-term interest rates, the yield on 10-year government bonds is in the 0.81% range and the buying situation entering the financial stocks is different from the buying focus on interest rate trends. Some say that the Government Pension Investment Fund and other pensions have been buying value-oriented stocks. The Nikkei Average VI also fell to the 26-point level, and the Tokyo stock market was returning to calm. The afternoon Tokyo market is expected to be dominated by the TOPIX.

The dollar-yen rate is steady, continuing the rise in Japanese stocks.

In the morning of the 15th in the Tokyo market, the dollar-yen rate remained firm and rose from 147.14 yen to 147.61 yen. The Nikkei average, which opened lower, gradually increased its gain as it turned upward, and the yen selling of risk preference pushed up major currencies. US interest rates also rose slightly, leaning slightly toward dollar buying.

The trading range so far was 147.14 yen to 147.61 yen for the dollar-yen rate, 162.05 yen to 162.45 yen for the euro-yen rate, and 1.1003 dollars to 1.1015 dollars for the euro-dollar rate.

Check stocks for the afternoon session

- Esuporazu 3260, Wai Ysufudo 3358, and 11 other stocks jumped by their daily limit.

*Includes temporary stopper (indicated price)

The top contributors to the rise were First Retail and East Electric.

Economic indicators and remarks by important people

[Economic indicators]

- Japan's GDP for the April-June quarter in the preliminary estimate: +3.1% (expected: +2.3%, January-March quarter: -2.3% ← -1.8% ).

- Australia's July employment: +0.0582 million people (expected: +0.02 million people, June: +0.0523 million people ← +0.0502 million people).

- China's July industrial production: +5.1% year-on-year (expected: +5.2%, June: +5.3%).

- China's July retail sales: +2.7% year-on-year (expected: +2.6%, June: +2.0%).

[Important Person's Remarks]

・US President Biden: "I will support until Ukraine wins this war."

"Mr. Kishida's courageous leadership will remain in the memories of both countries for decades to come."

- 1:30 pm Revised June industrial production. (Preliminary value: -3.6% month-on-month).

- 3:00 pm UK GDP estimates for April-June (expected year-on-year: +0.9%, January-March quarter: +0.3%).

- 3:00 pm UK industrial production in June (expected month-on-month: +0.1%, May: +0.2%).

- 3:00 pm UK trade balance in June (expected: -15.9 billion pounds, May: -17.917 billion pounds).