In the afternoon of the 30th trading, there are three points that need attention:

The Nikkei average rebounded but stalled at the 75-day moving average.

The dollar-yen remains firm around the 144 yen level.

Advantest <6857> was the top contributor to the price increase, followed by SoftBank Group <9984> in second place.

The Nikkei average rebounded but stalled at the 75-day moving average.

The Nikkei average rebounded. It closed the morning session at 38,585.43 yen, up 222.90 yen (+0.58%) from the previous day, with an estimated volume of about 701 million 10 million shares.

The U.S. stock market on the 29th was mixed. The Dow Jones rose by 243.63 points (+0.59%) to 41,335.05 points, the Nasdaq fell by 39.60 points (-0.23%) to 17,516.43, and the S&P 500 ended trading down 0.22 points (-0.004%). The GDP and revised personal consumption figures for the April-June quarter exceeded expectations, leading to an upward trend after the opening. The strength of the domestic economy, labor market, and consumption indicated an improvement in economic outlook, driving the market higher. Towards the end, concerns about high interest rates, semiconductor manufacturers, and the decline of Nvidia weighed on the Nasdaq, causing it to turn negative, while the Dow narrowed its gains but still hit a record high.

Due to the mixed performance of U.S. stocks, the Tokyo market had a directionless start. The Nikkei average started trading around the previous day's closing level, but turned around as the yen weakened, hitting the 145 yen level against the dollar. As it was the end of the month's business day, trading was driven by somewhat supply-demand dynamics, making it difficult to identify dominant buying themes, and the trading value in the morning prime market remained below 2 trillion yen at 1.7 trillion yen.

In the Nikkei 225 adopted stocks, Tokyo Electric Power HD <9501> reported that it has been reported that it has been reported that Furukawa Electric <5801>, Fujikura <5803>, and Sumitomo Electric Industries <5802> have been purchased. Also, Apple-related stocks such as TDK <6762>, Taiyo Yuden <6976>, Murata Manufacturing <6981>, and Nissin Electric <6988> are doing well. In addition, NEC <6701>, Nippon Steel <5631>, Fuji Electric <6504>, and Softbank Group <9984> were also bought.

On the other hand, Nitori Holdings <9843>, Nichirei <2871>, Meiji Holdings <2269>, and Kirin Holdings <2503> which are yen benefit stocks were somewhat noticeable. Additionally, Terumo <4543> which was sold off due to concerns about worsening supply and demand was also sold. In addition, Aeon <8267>, Shiseido <4911>, Keyence <6861>, Astellas Pharma <4503>, and Shimizu Construction <1803> also declined.

In terms of global sectors, nonferrous metals, marine transportation, wholesale trade, transportation equipment, electrical utilities, etc. rose, while retail trade, pharmaceuticals, precision instruments, fisheries and forestry, land transportation, etc. declined.

Although the Nikkei Average is slowly widening its gains, the 75-day moving average line at the 38,642 yen level, which is where the resistance is located, is likely to be a key level of focus. In the afternoon, amid a lack of material news, it is unlikely that there will be a strong performance that surpasses this level. It should be noted that the replacement of constituent stocks in the MSCI standard index will be implemented at the market close. KOKUSAI ELECTRIC <6525> which will be newly adopted is expected to generate buying demand, while Kintetsu Group HD <9041>, Komatsu <7276>, NXHD <9147>, Nissan Chemical <4021>, and Yamato Holdings <9064> which will be excluded are expected to generate selling demand.

■ The dollar-yen is firm, with the yen trading in the 144 yen range

In the Tokyo market in the morning on the 30th, the dollar-yen remained firm, trading around the mid-144 yen level. The dollar was difficult to sell due to the reluctance to decrease in US 10-year bond yields, while the euro-dollar remained weak. On the other hand, the Nikkei Stock Average expanded its gains, making it prone to yen selling in response to the stock rally.

So far, the trading ranges are 144.66 to 145.07 for the dollar-yen, 160.19 to 160.73 for the euro-yen, and 1.1070 to 1.1083 for the euro-dollar.

Check stocks for the afternoon session

Medicinova <4875>, Aizu <5242> and 5 other stocks hit the daily limit.

*Includes temporary stopper (indicated price)

Advantest <6857> was the top contributor to the price increase, followed by SoftBank Group <9984> in second place.

Economic indicators and remarks by important people

[Economic indicators]

August Tokyo metropolitan area consumer price index (excluding fresh food): +2.4% year-on-year (estimate: +2.2%, July: +2.2%).

July job availability ratio: 1.24 times (estimate: 1.23 times, June: 1.23 times).

July unemployment rate: 2.7% (estimate: 2.5%, June: 2.5%).

-08:50 July Mining and Manufacturing Production Preliminary Value: +2.8% month-on-month (estimate: +3.5%, June: -4.2%).

-Australian July Retail Sales: 0.0% month-on-month (estimate: +0.3%, June: +0.5%).

[Important Person's Remarks]

-Bostic, President of the Federal Reserve Bank of Atlanta.

"Inflation slowdown is faster than expected."

"Rate cut in the July-September quarter."

"It is necessary to confirm that there is no risk of further rate hikes before the rate cut decision."

"I prefer avoiding the mistake of waiting too long."

Not applicable.

Not applicable.