ADR (American Depositary Receipt) of Japanese stocks, in comparison to the Tokyo Stock Exchange (converted at a rate of 145.18 yen per dollar), Yucho Bank <7182>, Toyota Motor <7203>, Renesas <6723>, Murata Manufacturing <6981>, Takeda Pharmaceutical Industries <4502>, Fujifilm <4901>, Komatsu <6367>, etc. all declined, with selling prevailing in general. The settlement price for Chicago Nikkei 225 futures was 85 yen lower at 37,885 yen compared to the Osaka daytime session.

U.S. stock market rebounded. The Dow Jones Industrial Average ended the trading session at 40,890.49, up 55.52 points, and the Nasdaq finished at 17,918.99, up 102.05 points. With a significant downward revision in the number of employees for the one-year period until March, there were expectations of an interest rate cut and the market rose after the opening. Some strong earnings reports from retailers provided support, and with the decline in long-term interest rates, high-tech stocks were also bought, resulting in a firm market throughout the day. While there was some consolidation selling ahead of Chairman Powell's speech and the market momentarily struggled to rise, it was bought again and ended higher after the Federal Reserve Board's summary of the Federal Open Market Committee (FOMC) meeting minutes for the July meeting indicated a likelihood of a rate cut in September.

In the New York foreign exchange market on the 21st, the dollar-yen rate rose to 146.77 yen, then temporarily fell to 144.46 yen, and closed at 145.29 yen. The upward revision in the preliminary value of the annual employment growth standard based on the revised criteria for the number of employees until March announced by the Bureau of Labor Statistics (BLS) was within expectations, and the long-term interest rate turned upward, strengthening the demand for dollars. Subsequently, with the good results of the 20-year bond auction, and the view that the slowdown in the labor market was confirmed in the Federal Reserve Board's summary of the Federal Open Market Committee (FOMC) meeting minutes for the July meeting, where a majority of members indicated that a rate cut in September would be appropriate, it became clear that several officials supported a 0.25% rate cut at the July meeting and the selling of dollars to incorporate the rate cut accelerated. Euro/dollar fell to 1.1100 dollars, then rose to 1.1174 dollars, and closed at 1.1151 dollars.

NYMEX crude oil futures for October delivery remained weak (NYMEX crude oil closing price for October: $71.93, down $1.24).

Top performing ADR stocks (as of the 21st):

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

<5020> ENEOS $10.66 774 yen (up 35.3 yen) +4.78%

<8830> Sumitomo Realty $17 4936 yen (up 177 yen) +3.72%

<6178> Japan Post $10 1452 yen (+49 yen) +3.49%

<2801> Kikkoman $24 1742 yen (+51 yen) +3.02%

<4689> LINE Yahoo $5.35 388 yen (+9.3 yen) +2.46%

■ADR Declining Stocks (21st)

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

<7182> Japan Post Bank $8.45 1227 yen (-176.5 yen) -12.58%

<8750> Dai-ichi Life HD $24.6 3571 yen (-488 yen) -12.02%

<7259> Aisin Seiki $31.96 4640 yen (-357 yen) -7.14%

<9503> Kansai Electric Power $8.21 ¥2384 (-¥108) -4.33%

<6752> Panasonic $7.77 ¥1128 (-¥32) -2.76%

■ Other ADR Stocks (21st)

Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison

<2914> Japan Tobacco Inc. $14.3 ¥4152 (¥45)

<3382> Seven & I Holdings Co. $14.01 ¥2034 (-¥10.5)

<4063> Shin-Etsu Chemical Co. $21.03 ¥6106 (-¥2)

<4502> Takeda Pharmaceuticals sp adr $14.94 ¥4338 (-¥31)

<4519> Chugai Pharmaceutical $23.53 ¥6,832 (-¥16)

<4543> Terumo $19.05 ¥2,766 (+¥6)

<4568> Dainippon Sumitomo $40.33 ¥5,855 (+¥28)

<4661> Orient Land $27.91 ¥4,052 (-¥7)

<4901> Fujifilm $12.61 ¥3,661 (-¥24)

<5108> Bridgestone $20.12 ¥5,842 (-¥31)

<6098> Recruit HD $11.85 ¥8,605 (-¥22)

<6146> Disco $30.6 ¥44,425 (-¥145)

<6178> Japan Post $10 1452 yen (-49 yen)

<6201> Toyota Industries Corporation $78.61 11413 yen (-57 yen)

<6273> SMC $23.3 67654 yen (-286 yen)

<6301> Komatsu $28.41 4125 yen (-7 yen)

<6367> Daikin Industries, Ltd. Unsponsored ADR $12.11 17581 yen (-114 yen)

<6501> Hitachi Ltd Sponsored ADR $48.76 3539 yen (-5 yen)

<6503> Mitsubishi Electric Corp. Unsponsored ADR $32.38 2350 yen (-9 yen)

<6594> Nidec Corporation $10.64 6179 yen (11 yen)

<6702> Fujitsu $17.46 2535 yen (-2 yen)

<6723> Renesas $8.37 2430 yen (-18 yen)

<6758> Sony $92.79 13471 yen (86 yen)

<6857> Advantest $45.2 6562 yen (32 yen)

<6902> Denso $15.58 2262 yen (-13 yen)

<6954> Fanuc $14.49 4207 yen (-12 yen)

<6981> Murata Manufacturing $10.01 2907 yen (-21 yen)

<7182> Japan Post Bank $8.45 1227 yen (-176.5 yen)

<7203> Toyota Motor $183.62 2666 yen (-26.5 yen)

<7267> Honda Motor $32.17 1557 yen (-5 yen)

<7741> HOYA $136.84 19866 yen (11 yen)

<7751> Canon $34.36 4988 yen (2 yen)

<7974> Nintendo $14.22 8258 yen (5 yen)

<8001> Itochu Corporation $97.57 7083 yen (-7 yen)

<8002> Marubeni Corporation $169.69 2464 yen (2 yen)

<8031> Mitsui & Co. $415.4 3015 yen (-5 yen)

<8035> Tokyo Electric $96.65 28,063 yen (+63 yen)

<8053> Sumitomo Corporation $23.07 3,349 yen (-7 yen)

<8058> Mitsubishi Corporation $20.70 3,005 yen (-13 yen)

<8306> Mitsubishi UFJ Financial Group $10.55 1,532 yen (-6 yen)

<8316> Sumitomo Mitsui Financial Group $13.62 9,887 yen (-11 yen)

<8411> Mizuho Financial Group $4.25 3,085 yen (+16 yen)

<8591> Orix Corporation $119.96 3,483 yen (-3 yen)

<8725> MS&AD Insurance Group $23.00 3,339 yen (-6 yen)

<8766> Tokio Marine HD $37.95 ¥5510 (+ ¥31)

<8801> Mitsui Fudosan $31 ¥1500 (- ¥1.5)

<9432> NTT $26.12 ¥152 (+ ¥0)

<9433> KDDI $16.39 ¥4759 (- ¥15)

<9983> Fast Retailing $30.23 ¥43888 (- ¥62)

<9984> SoftBank Group $29.25 ¥8493 (- ¥36)