[Nikkei Stock Average and TOPIX (Table)]

Nikkei Average; 38,241.90; +30.89

TOPIX; 2674.08; +2.68

Summary of the start of the afternoon session

In the afternoon, the Nikkei Average started to rise from the morning close (38,117.44 yen) and reached 38,241.90 yen, up 30.89 yen from the previous day. During lunchtime, the Nikkei 225 futures fluctuated within the range of 38,150 yen to 38,250 yen. The USD/JPY exchange rate was around 145.50-60 yen, with the yen strengthening and the dollar weakening by about 70 yen from around 9 a.m. In the Asian market, while the Shanghai Composite Index has risen by about 0.3% with uncertain direction movement around the previous day's closing price, the Hang Seng Index in Hong Kong has fallen by about 0.3% and is trading in negative territory. The afternoon session of the Tokyo market started with buying ahead compared to the morning close. The market response to the statements made by BOJ Governor Kuroda and others at the lower house financial affairs committee, which drew attention in the morning session, was limited, which has brought a sense of relief. On the other hand, there are some who are refraining from active buying as the market is showing a slightly stronger yen and weaker dollar compared to the morning, and also because Fed Chairman Powell's speech at the Jackson Hole Symposium is scheduled for tonight and they want to assess the situation.

In the sectors, precision instruments, other financing business, and construction industry are among the top gainers, while electric appliances, wholesale trade, and nonferrous metals are among the top decliners. In terms of trading value in the Tokyo Stock Exchange Prime Market, Sharp Corp <6753>, Orix <8591>, Asics <7936>, Daikin <6367>, IHI <7013>, Mitsubishi Heavy Industries <7011>, Chugai Pharmaceutical <4519>, Daiichi Sankyo <4568>, Fast Retailing <9983>, and Kawasaki Heavy Industries <7012> are performing well. On the other hand, Kokusai <6525>, Laser Tech <6920>, Advantest <6857>, Socionext <6526>, Renesas <6723>, TDK <8035>, Sumitomo Forestry <1911>, Sakura <3778>, Fujikura <5803>, and Komatsu <6301> are declining.