Japanese stocks of ADR (American Depositary Receipt) such as Yucho Bank <7182>, Nippon Electric Industry <6594>, Marubeni <8002>, Takeda Pharmaceutical <4502>, Sony <6758>, Denso <6902>, Fujifilm <4901>, etc., all fell compared to the Tokyo Stock Exchange (converted at 1 dollar to 144.28 yen), with a general preference towards selling. The Chicago Nikkei 225 futures settlement value was 80 yen lower than Osaka's mid-day price at 38,330 yen.

The US stock market staged a significant rebound. The Dow Jones Industrial Average closed at 41,175.08, up 462.30 points, while the Nasdaq ended trading at 17,877.79, up 258.44 points. Federal Reserve Chairman Powell's speech at the Jackson Hole meeting revealed expectations for a swift rate cut, leading to accelerated buying post-opening and a steady rise throughout the day, with the market expanding its gains towards the end and closing positively.

In the New York foreign exchange market on the 23rd, the dollar-yen rate rose to 146.48 yen, then fell to 144.05 yen, closing at 144.39 yen. Federal Reserve Chairman Powell at the Jackson Hole meeting signaled a clear direction towards policy changes and rate cuts, without ruling out the possibility of a significant rate cut, leading to a further acceleration of dollar selling in anticipation of a September rate cut. The Euro against the Dollar rose from 1.1080 dollars to 1.1201 dollars, closing at 1.1193 dollars.

On the 23rd, NY crude oil futures for October continued to rise significantly (NYMEX Crude Oil October futures closing price: 74.83, up 1.82).

Top-performing ADR stocks (23rd):

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

Sumitomo Real Estate <8830> 17 dollars 4906 yen (up 115 yen) +2.4%

Rakuten <4755> 6.7 dollars 967 yen (up 20.6 yen) +2.18%

<6178> Japan Post $10 1443 yen (30.5 yen) +2.16%

<9503> Kansai Electric Power $9 2597 yen (55 yen) +2.16%

<8309> Mitsubishi UFJ Financial Group $5.18 3735 yen (56 yen) +1.52%

ADR stocks with the largest declines (23rd):

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

<7182> Japan Post Bank $8.4 1212 yen (-190 yen) -13.55%

<8750> Dai-ichi Life Holdings $25 3607 yen (-507 yen) -12.32%

<7259> Aisin Seiki $31.96 4611 yen (-391 yen) -7.82%

<9107> Kawasaki Kisen at $14.15 or ¥2042 (-¥79), -3.72%.

<8601> Daiwa Securities Group Inc. at $7.36 or ¥1062 (-¥35), -3.19%.

Other ADR stocks (23rd):

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

<2914> Japan Tobacco Inc. at $14.56 or ¥4201 (-¥17).

<3382> Seven & I Holdings Co., Ltd. at $14.12 or ¥2037 (-¥7.5).

<4063> Shin-Etsu Chemical Co., Ltd. at $22.17 or ¥6397 (+¥5).

<4502> Takeda Pharmaceutical Company Limited at $15.08 or ¥4351 (-¥40).

<4519> Chugai Pharmaceutical $24.98 7208 yen (-12 yen)

<4543> Terumo $19.44 2805 yen (5.5 yen)

<4568> Daiichi Sankyo $41.26 5953 yen (-2 yen)

<4661> Orion Oland $28.01 4041 yen (11 yen)

<4901> Fujifilm $13 3751 yen (-19 yen)

<5108> Bridgestone $20.08 5794 yen (-6 yen)

<6098> Recruit Holdings $12.28 8859 yen (31 yen)

<6146> Disco $30.1 43428 yen (188 yen)

<6178> Japan Post $10 1443 yen (+30.5 yen)

<6201> Toyota Industries $79.24 11433 yen (-47 yen)

<6273> SMC $23.5 67812 yen (+22 yen)

<6301> Komatsu $28.23 4073 yen (-3 yen)

<6367> Daikin Industries $12.52 18064 yen (-36 yen)

<6501> Hitachi $47.85 3452 yen (-9 yen)

<6503> Mitsubishi Electric $32.35 2334 yen (-6 yen)

<6594> Nidec Corp $10.58 6106 yen (-67 yen)

<6702> Fujitsu $17.72 2557 yen (-7 yen)

<6723> Renesas $8.52 2459 yen (-2.5 yen)

<6758> Sony $92.39 13330 yen (-80 yen)

<6857> Advantest $44.4 6406 yen (24 yen)

<6902> Denso $15.64 2257 yen (-12.5 yen)

<6954> Fanuc $14.73 4250 yen (-7 yen)

<6981> Murata Manufacturing $10.07 2906 yen (-11.5 yen)

<7182> Japan Post Bank $8.4 1212 yen (-190 yen)

<7203> Toyota Motor $185.09 2670 yen (-$12)

<7267> Honda Motor $32.69 1572 yen (-$6)

<7741> HOYA $142.88 20615 yen (+$10)

<7751> Canon $35.09 5063 yen (-$13)

<7974> Nintendo $14.22 8207 yen (-$18)

<8001> Itochu $99.31 7164 yen (+$54)

<8002> Marubeni $168.98 2438 yen (-$22.5)

<8031> Mitsui & Co. $419.14 3024 yen (+$5)

<8035> Tokyo Electric is $94.84 or 27,367 yen (¥262).

<8053> Sumitomo Corporation is $23.45 or 3,383 yen (¥10).

<8058> Mitsubishi Corporation is $20.73 or 2,991 yen (¥20).

<8306> Mitsubishi UFJ Financial Group is $10.63 or 1,534 yen (¥9).

<8316> Mitsui Sumitomo Financial Group is $13.79 or 9,948 yen (¥59).

<8411> Mizuho Financial Group is $4.29 or 3,095 yen (¥20).

<8591> Orix Corp is $123.75 or 3,571 yen (-¥3).

<8725> MS&AD Insurance Group Holdings is $22.85 or 3,297 yen (-¥3).

<8766> Tokyo Marine Holdings $37.71 5441 yen (-3 yen)

<8801> Mitsui Fudosan $31.5 1515 yen (+9 yen)

<9432> NTT $26.42 152 yen (0 yen)

<9433> KDDI $16.58 4783 yen (-9 yen)

<9983> Fast Retailing $31.73 45780 yen (+90 yen)

<9984> SoftBank Group $29.65 8556 yen (+82 yen)