日経平均採用銘柄では、NY金価格が3営業日連続で高値を更新していることで、住友鉱＜5713＞、三菱マテリアル＜5711＞など資源関連株が買われたほか、円高一服を材料にマツダ＜7261＞、トヨタ自＜7203＞、日野自動車＜7205＞、ホンダ＜7267＞、スズキ＜7269＞など自動車関連が上昇。このほか、クレディセゾン＜8253＞、T&Dホールディングス＜8795＞、りそなHD＜8308＞など昨日売られた金融株の一角が反発した。The Nikkei average rebounded. It ended the morning trading at 36,461.44 yen, up 258.22 yen (+0.71%) from the previous day, with an estimated volume of 704 million 40 million shares.
On the 17th, the U.S. market was mixed. The Dow Jones fell by 15.90 points (-0.04%) to 41,606.18, the Nasdaq rose by 35.93 points (+0.20%) to 17,628.06, and the S&P500 closed at 5,634.58, up 1.49 points (+0.03%). The Federal Open Market Committee (FOMC) meeting initially raised expectations of a rate cut, leading to an increase. However, after the August retail revenue exceeded market expectations, the expectation of a significant rate cut slightly receded. There was caution ahead of the FOMC meeting and adjustments, causing the market to struggle. Profit-taking selling was observed near record highs for the Dow, leading to a downturn. The Nasdaq was supported by a positive interest rate outlook, trading firmly and closing mixed.
American stocks lacked direction with mixed highs and lows, but as the exchange rate rose to the 142 yen range, the Tokyo market started with a predominance of buying. The Nikkei average rebounded but paused its rise around the previous day's high of 36,600 yen, gradually reducing the upward momentum. There was a strong cautious mood and a wait-and-see attitude ahead of the FOMC results announced at 3 a.m. on the 19th in Japan, with active buying being restrained.
In Nikkei average constituent stocks, Sumitomo Metal <5713>, Mitsubishi Materials <5711>, and other resource-related stocks were bought as NY gold prices hit a 3-day high, while Mazda <7261>, Toyota Motor <7203>, Hino Motors <7205>, Honda <7267>, Suzuki <7269>, and other automobile-related stocks rose on the back of a pause in the yen's appreciation. In addition, parts of the financial stocks sold yesterday, such as Credit Saison <8253>, T&D Holdings <8795>, and Resona Holdings <8308>, rebounded.
On the other hand, IHI <7013>, which hit a year-to-date high in the morning, continued to decline, alongside Mitsubishi Heavy Industries <7011>, another defense-related stock. Furthermore, railway stocks such as Keio Corporation <9008>, Odakyu Electric Railway <9007>, Tobu Railway <9001>, Keisei Electric Railway <9009>, and JR West Japan <9021> fell overall. Additionally, such as Mitsukoshi Isetan <3099>, Chugai Pharmaceutical <4519>, and Kao <4452> were sold.
In terms of global sectors, transportation equipment, petroleum and coal products, warehouse and transportation-related industries, rubber products, iron & steel, among others, rose, while land transportation, air transportation, pharmaceuticals, food products, fisheries and agriculture, among others, declined.
With the exchange rate fluctuating to around 141.40 yen per dollar compared to the morning, showing a strengthening yen and weakening dollar, the recovery of Japanese stocks has slowed. As the afternoon session of the Tokyo market continues to be dependent on the exchange rate, it's important to be aware of the potential for narrowing gains. The Prime Market trading volume in the morning session remained at 1.6 trillion yen, with a strong wait-and-see mood ahead of the FOMC announcement. The afternoon is expected to continue with quiet market activity.
