Three points to watch in the afternoon session ~ due to the decline in US stocks and the strengthening of the yen, the decline temporarily exceeded 1,500 yen.

Fisco Japan · Sep 4 11:47

4日の後場の取引では以下の3つのポイントに注目したい。

・日経平均は大幅続落、米国株安や円高推移を受けて下げ幅は一時1500円超に

・ドル・円は下げ渋り、値ごろ感で買戻しも

・値上り寄与トップは東京エレクトロン＜8035＞、同2位はアドバンテスト＜6857＞

■日経平均は大幅続落、米国株安や円高推移を受けて下げ幅は一時1500円超に

日経平均は大幅続落。前日比1280.72円安（－3.31％）の37405.59円（出来高概算9億5000万株）で前場の取引を終えている。

3日の米国株式市場は大幅反落。ダウ平均は626.15ドル安（－1.51％）の40936.93ドル、ナスダックは577.33ポイント安（－3.26％）の17136.30、S&P500は119.47ポイント安（－2.12％）の5528.93で取引を終了した。8月ISM製造業景況指数が予想を下回ったためハードランディング懸念も強まり、寄り付き後、下落。ダウは史上最高値からの利益確定売りも加速し、終日売りが先行した。エヌビディアなど半導体セクターの売りもさらなる圧力となり、ナスダックも大きく売られ、終盤にかけて下げ幅を拡大。

米国株の大幅下落と為替の円高推移を受けて、東京市場は売り優勢で取引を開始した。日経平均は38000円台を割り込み、一時37122.33円まで下げ幅を拡大。フィラデルフィア半導体株指数（SOX指数）が前日比7％超下げたことで、値がさ半導体株の下げが目立った。8月5日からの上昇に対する利益確定が先行し、プライム市場の売買代金は2.4兆円と久しぶりに2兆円台に乗せた。

日経平均採用銘柄では、ルネサスエレクトロニクス＜6723＞、ソシオネクスト＜6526＞、スクリーンHD＜7735＞、SUMCO＜3436＞、東京エレクトロン＜8035＞、ソフトバンクグループ＜9984＞など半導体株の下げが目立つ。このほか、古河電工＜5801＞、ディスコ＜6146＞、フジクラ＜5803＞、東京電力HD＜9501＞、メルカリ＜4385＞、リクルートHD＜6098＞などが下落した。

一方、円高メリット銘柄の一角であるニトリHD＜9843＞、イオン＜8267＞、花王＜4452＞、サッポロHD＜2501＞、明治ホールディングス＜2269＞などが上昇。このほか、バンダイナムコHD＜7832＞、ZOZO＜3092＞などが買われた。なお、日経平均採用銘柄で上昇したのは15銘柄に留まった。

全業種が下落するなか、鉱業、石油・石炭製品、証券・商品先物取引業、非鉄金属、電気機器の下げが目立った。

市場の先行き不安感を示す日経平均VIは一時31.84ポイントまで上昇したが、8月5日の70.69ポイントと比べると、さほど悲観論は高まっていない様子。足元の日経平均の上値が重くなっていたこともあり、利益確定売りが先行したと考える。前場の売買代金が2.4兆円と膨らんでいることから、買いもそれなりに入っている様子。市場では8月5日のような後場一段安が警戒されているが、8月30日時点の信用買い残は4兆円ほどに留まっていることから信用取引に絡んだ投げ売りはさほど入らないだろう。後場の東京市場は、為替の一段の円高進行とならない限り、落ち着きを取り戻すと想定。日経平均、TOPIXは下げ幅をやや縮小して大引けを迎えると考える。

■ドル・円は下げ渋り、値ごろ感で買戻しも

4日午前の東京市場でドル・円は下げ渋り。米10年債利回りの低下を受け、ドル売り先行。また、米国経済の減速懸念で日経平均株価が前日比1500円安と下げ幅を拡大し、リスク回避的な円買いで一時144円89銭まで下落。その後はドルが買い戻された。

ここまでの取引レンジは、ドル・円は144円89銭から145円55銭、ユーロ・円は160円11銭から160円89銭、ユーロ・ドルは1.1039ドルから1.1056ドル。

■後場のチェック銘柄

・ＺＵＵ＜4387＞、メディシノバ＜4875＞など、4銘柄がストップ高

※一時ストップ高（気配値）を含みます

・値上り寄与トップは東京エレクトロン＜8035＞、同2位はアドバンテスト＜6857＞

■経済指標・要人発言

【経済指標】

・豪・4-6月期GDP：前年比+1.0％（予想：+0.9％、1-3月期：+1.3％←+1.1％）

・中・8月財新サービス業PMI：51.6（予想：51.8、7月：52.1）

【要人発言】

・ナーゲル独連銀総裁

「ユーロ圏インフレは正しい道筋」

＜国内＞

・特になし

＜海外＞

・特になし

In the afternoon trading on the 4th, the following three points should be noted.

- The Nikkei average fell sharply, with a temporary decline of over 1,500 yen due to the decline in US stocks and the strengthening of the yen.

- The dollar/yen rate has been declining, but there is also buying back at a reasonable price.

Tokyo Electron Ltd. <8035> was the top contributor to the increase, with Advantest <6857> in second place.

Nikkei average fell sharply due to the decline in US stocks and the strengthening of the yen, with a temporary decline of over 1,500 yen.

The Nikkei average fell sharply. It closed the morning session of trading at 37,405.59 yen (volume estimated at around 0.9 billion 50 million shares), down 1,280.72 yen (= -3.31%) from the previous day.

On the 3rd, the US stock market fell sharply. The Dow average closed at 40,936.93 dollars, down 626.15 dollars (= -1.51%). The Nasdaq closed at 17,136.30, down 577.33 points (= -3.26%). The S&P 500 closed at 5,528.93, down 119.47 points (= -2.12%). This was due to concerns about a hard landing as the August ISM Manufacturing Index fell below expectations, leading to a drop in the market after the opening. The Dow also accelerated profit-taking selling from its all-time high, leading to selling throughout the day. Selling in the semiconductor sector, including Nvidia, also exerted further pressure, leading to significant selling in the Nasdaq and an expansion of the decline towards the end.

Following the significant decline in US stocks and the strengthening of the yen, the Tokyo market opened with a dominant selling sentiment. The Nikkei average fell below the 38,000 yen level and expanded its decline to 37,122.33 yen at one point. The decline in semiconductor stocks was noticeable as the Philadelphia Semiconductor Index (SOX Index) fell more than 7% compared to the previous day. Profit-taking on the rise since August 5th led the market, and the trading value in the prime market reached 2.4 trillion yen, marking the first time in a long time to surpass the 2 trillion yen level.

Among the stocks adopted in the Nikkei Average, semiconductor stocks such as Renesas Electronics <6723>, Socionext <6526>, Screen HD <7735>, SUMCO <3436>, Tokyo Electron <8035>, and SoftBank Group <9984> are prominent in their decline. In addition, Furukawa Electric <5801>, Disco <6146>, Fujikura <5803>, TEPCO Holdings <9501>, Mercari <4385>, Recruit HD <6098>, and others fell.

On the other hand, Nitori Holdings <9843>, Aeon <8267>, Kao <4452>, Sapporo HD <2501>, and Meiji Holdings <2269> are among the stocks that benefit from the strengthening yen and have risen. In addition, Bandai Namco HD <7832> and ZOZO <3092> were bought. It should be noted that only 15 stocks in the Nikkei Average rose.

While all industries declined, declines in mining, petroleum and coal products, securities and commodity futures trading, nonferrous metals, and electrical equipment were prominent.

The Nikkei Average VI, which indicates market concerns about the future, temporarily rose to 31.84 points, but the pessimism does not seem to have increased much compared to 70.69 points on August 5. Considering that the upper limit of the current Nikkei Average was heavy, profit-taking sales took precedence. The trading volume in the morning session has expanded to 2.4 trillion yen, indicating that there is also buying activity. Although the market is wary of a sharp decline in the second half of the day like August 5, the outstanding margin buy on August 30 remains at about 4 trillion yen, so there is unlikely to be much selling pressure related to margin trading. Assuming that the afternoon Tokyo market will regain its calm unless there is a further strengthening of the yen, it is expected that the Nikkei Average and TOPIX will slightly narrow their declines by the closing bell.

On the morning of the 4th, the dollar-yen rate showed a slight decline. Due to the decrease in the yield of U.S. 10-year bonds, the dollar initially declined. In addition, due to concerns about the slowdown in the U.S. economy, the Nikkei Average fell by 1500 yen compared to the previous day, causing the yen to be bought as a safe-haven currency, leading to a temporary decline to 144.89 yen. Later, the dollar was bought back.

The trading range so far is 144.89 yen to 145.55 yen for the dollar-yen rate, 160.11 yen to 160.89 yen for the euro-yen rate, and 1.1039 dollars to 1.1056 dollars for the euro-dollar rate.

Check stocks for the afternoon session

- ZUU <4387>, Medicinova <4875>, and 4 other stocks hit the daily limit.

*Includes temporary stopper (indicated price)

Tokyo Electron Ltd. <8035> was the top contributor to the increase, with Advantest <6857> in second place.

Economic indicators and remarks by important people

[Economic indicators]

- Australia's GDP for Q2-Q3: +1.0% YoY (estimate: +0.9%, Q1-Q2: +1.3% ← +1.1%)

- China's Caixin Services PMI for August: 51.6 (estimate: 51.8, July: 52.1)

[Important Person's Remarks]

- Jens Weidmann, President of the Deutsche Bundesbank.

"Eurozone inflation is on the right track."

Not applicable.

The translation is provided by third-party software.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.

後場に注目すべき3つのポイント～米国株安や円高推移を受けて下げ幅は一時1500円超に

Three points to watch in the afternoon session ~ due to the decline in US stocks and the strengthening of the yen, the decline temporarily exceeded 1,500 yen.

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