[Nikkei Stock Average and TOPIX (Table)]
Nikkei Average; 36185.62; + 565.85
TOPIX; 2568.39; + 37.72
[Sector]: Mining, insurance, banking, transportation equipment, wholesale trade, etc. are the top decliners, while pharmaceuticals, precision instruments, and electric and gas industries rose. The turnover of the Tokyo Stock Exchange Prime includes Laser Tech <6920>, Mirrors HD <8897>, Kawasaki Shipbuilding <9107>, Dai-ichi Life HD <8750>, Recruit HD <6098>, Marubeni <8002>, Mitsui & Co. <8031>, Honda <7267>, SMC <6273>, INPEX <1605>, Nissan Motor <7201>, and Nomura <8604>, all of which fell. Meanwhile, Nitori Holdings <9843>, Rakuten Group <4755>, and Daiichi Sankyo <4568>, among others, have risen.
On the 12th, the Nikkei Average started trading with a rebound of 565.85 yen higher at 36,185.62 yen, the first increase in 8 days. The US stock market on the previous day, the 11th, rose. The Dow Jones rose 124.75 dollars to close at 40,861.71 dollars, and the Nasdaq ended trading at 17,395.53, up 369.65 points. The unexpected acceleration of the core consumer price index (CPI) in August and the retreat of expectations for substantial interest rate cuts, as well as the cautiousness about the risk of a government agency shutdown at the end of September, weighed on stock prices. On the other hand, optimistic views on the economy by Goldman Sachs Group (GS)'s CEO Solomon and other factors supported stock prices.
Buying was the leading factor in today's Tokyo stock market. The rise in major stock indexes in the US stock market yesterday supported Tokyo market stock prices. In particular, the NASDAQ Composite Index, which has a high ratio of high-tech stocks, rose by 2.17%, and the Philadelphia Semiconductor Stock Index (SOX Index), which is made up of major semiconductor-related stocks, rose by 4.90%, a larger increase than the Dow Jones Industrial Average (up 0.31%). These factors supported the stock prices of high-tech and semiconductor-related stocks in the Tokyo market. In addition, in the foreign exchange market, the exchange rate was about 142 yen and 70 sen per dollar, about 1 yen and 40 sen lower than around 15:00 yesterday, indicating a trend of a weaker yen and a stronger dollar, which also provided a sense of relief. Furthermore, the Nikkei Average fell for 7 consecutive days until yesterday, with a decline of more than 3000 yen, making it easier for investors to buy on dips. On the other hand, there were some investors who refrained from actively buying in order to assess today's release of the Producer Price Index (PPI) for August in the US and tomorrow's Special Quotation (SQ) Calculation Day for Japanese stock index futures and options for September, but buying was dominant in the opening stage. The domestic corporate goods price index for August, announced before the start of trading, rose by 2.5% compared to the same month last year. The median of private forecasts compiled by QUICK was a rise of 2.8%. According to the weekly situation of securities sales and purchases due to external and internal securities transactions, foreign investors sold more domestic stocks for 4 consecutive weeks from September 1 to 7. The net sales amount was 902.3 billion yen. Today, the LDP leadership election will be announced.
In terms of sectors, all industries saw price increases. Oil & coal products, other financing business, insurance business, transportation equipment, and nonferrous metals were among the top gainers. In the top trading value of the Tokyo Stock Exchange Prime, Sakura (3778), Advantest (6857), Disco (6146), Fujikura (5803), IHI (7013), Kawasaki Heavy Industries (7012), TDK (8035), Sosei Next (6526), SoftBank Group (9984), Mercari (4385), Mitsubishi Heavy Industries (7011), Laser Tech (6920), and SHIFT (3697) rose. On the other hand, Daiichi Sankyo (4568) and Nitori Holdings (9843) among others fell.