"Chicago Nikkei Average Futures (CME)" (20th)

DEC24

O 37730 (dollars)

$38,325

L 37580

C 38125, Osaka +595 (Evening +155)

Vol 8762

DEC24

O 37565 (yen-based)

H 38180

L 37425

C 37975, TSE comparison +445 (evening comparison +5)

Vol 19730

"American Depositary Receipt Overview (ADR)" (20th)

In the ADR market, Mizuho FG <8411>, Hitachi <6501>, Mitsui & Co. <8031>, Tokyo Marine HD <8766>, Sumitomo Mitsui FG <8316>, ORIX <8591>, Mitsubishi Electric <6503> and others rose, with general buying predominating.

Code　　Company Name　　　　　Closing Price　Change from Previous Day　Price in JPY　Comparison to Japanese Price

7203 (TM.N) Toyota Motor Corporation 184.07 0.60 2649 15

8306 (MUFG.N) Mitsubishi UFJ Financial Group 10.46 0.13 1504 22

8035 (TOELY) Tokyo Electron 84.84 1.49 24417 172

6758 (SONY.N) Sony Corporation 93.09 -0.14 13396 31

9432 (NTTYY) Nippon Telegraph and Telephone Corporation 26.17 -0.21 151 1.2

8058 (MTSUY) Mitsubishi Corporation 20.75 0.24 2986 33.5

6501 (HTHIY) Hitachi Ltd Sponsored ADR 52.06 -0.05 3746 74

9983 (FRCOY) First Resources Corporation 33.58 0.92 48322 512

9984 (SFTBY) SoftBank G 30.07 0.25 8654 91

4063 (SHECY) Shin-Etsu Chemical 20.49 -0.01 5897 35

8001 (ITOCY) Itochu Corporation 107.60 -1.16 7742 91

8316 (SMFG.N) Sumitomo Mitsui Financial Group 12.87 0.16 9260 148

8031 (MITSY) Mitsui & Co., Ltd. 431.49 14.23 3105 54

6098 (RCRUY) Recruit Holdings Co., Ltd. 13.00 -0.08 9355 90

4568 (DSNKY) Daiichi Sankyo Company, Limited 34.59 -0.50 4978 34

9433 (KDDIY) KDDI Corporation 16.70 -0.20 4806 2

7974 (NTDOY) Nintendo 13.37 -0.13 7696 26

8766 (TKOMY) Tokyo Marine Holdings 37.19 0.21 5352 93

7267 (HMC.N) Honda Motor Co., Ltd. 32.72 0.10 1569 12.5

2914 (JAPAY) Japan Tobacco Inc. 14.30 -0.10 4116 22

6902 (DNZOY) Denso Corporation 14.87 0.14 2140 20.5

4519 (CHGCY) Chugai Pharmaceutical Co., Ltd. 23.95 -0.09 6893 44

4661 (OLCLY) Orient Land Co., Ltd. 27.30 -0.44 3928 18

8411 (MFG.N) Mizuho Financial Group, Inc. 4.17 0.12 3000 109.5

6367 (DKILY) Daikin Industries 12.51 -0.15 18002 42

4502 (TAK.N) Takeda Pharmaceutical Industries 14.80 -0.13 4259 -16

7741 (HOCPY) HOYA 138.77 2.15 19969 234

6503 (MIELY) Mitsubishi Electric 32.12 0.36 2311 34.5

6981 (MRAAY) Murata Manufacturing 9.61 0.16 2766 17

7751 (CAJPY) Canon 33.12 -0.42 4766 37

6273 (SMCAY) SMC 21.27 0.06 61215 735

7182 (JPPTY) Japan Post Bank 8.15 0.10 1173 -149.5

6146 (DSCSY) Disco 25.40 -0.30 36551 261

3382 (SVNDY) Seven & I Holdings 14.97 -0.22 2154 2.5

8053 (SSUMY) Sumitomo Corporation 22.89 0.04 3294 45

6702 (FJTSY) Fujitsu 20.30 -0.39 2921 18.5

6201 (TYIDY) Toyoda Automatic Loom Works 77.25 -0.23 11116 6

5108 (BRDCY) Bridgestone 19.26 0.13 5543 19

6178 (JPPHY) Japan Post 10.00 0.00 1439 15

8002 (MARUY) Marubeni 162.28 0.11 2335 33.5

6723 (RNECY) Renesas 7.34 0.03 2112 -6.5

6954 (FANUY) Fanuc 13.88 0.39 3995 30

8725 (MSADY) MS&AD Insurance HD 23.45 -0.19 3374 36

8801 (MTSFY) Mitsui Fudosan 28.80 -0.60 1381 9.5

6301 (KMTUY) Komatsu 26.86 -0.02 3865 11

4901 (FUJIY) Fujifilm 13.10 -0.20 3770 8

6594 (NJDCY) Nippon Densan 10.18 -0.07 5860 -17

6857 (ATEYY) Advantest 44.30 -1.10 6375 80

4543 (TRUMY) Terumo 18.79 -0.37 2704 21.5

8591 (IX.N) Orix 119.91 -0.83 3451 54

(Ranked 50 by market capitalization, converted at 143.90 yen per dollar)

Top 5 ADRs with the highest increase rate (20 days)

コード 　 　 　 銘柄名 　 　 　 　 終値 日本円換算価格 日本終値比 （％）

8411 (MFG.N) Mizuho FG 4.17 3000 109.5 3.79

7733 (OLYMY) Olympus 18.71 2692 64.5 2.45

8830 (MITEY) Sumitomo Realty 17.00 4893 111 2.32

4755 (RKUNY) Rakuten 6.90 993 22.4 2.31

8267 (AONNY) Aeon 28.45 4094 86 2.15

Top 5 ADR Decliners (20th)

コード 　 　 　 銘柄名 　 　 　 　 終値 日本円換算価格 日本終値比 （％）

8750 (DLICY) Dai-ichi Life HD 22.40 3223 -418 -11.48

7182 (JPPTY) Japan Post Bank 8.15 1173 -149.5 -11.30

2801 (KIKOY) Kikkoman 22.00 1583 -35 -2.16

8601 (DSEEY) Daiwa Securities Group Inc 7.14 1027 -14.5 -1.39

4523 (ESAIY) Eisai Co 9.88 5687 -66 -1.15

"Overview of the U.S. stock market" (20th)

NYDOW

Closing price: 42063.36 Change from previous day: 38.17

Opening price: 41959.43 High: 42138.41 Low: 41865.95

Year-to-date high: 42063.36 Year-to-date low: 37266.67

Previous Year High: 37,710.10, Previous Year Low: 31,819.14

NASDAQ

Closing price: 17948.32, Change from previous day: -65.66

Opening price: 17999.35, High: 18024.34, Low: 17835.64

Year-to-date high: 18647.45 Year-to-date low: 14510.30.

Previous Year High: 15,099.18, Previous Year Low: 10,305.24

S&P 500

Closing price: 5702.55, Change from previous day: -11.09

Opening price: 5709.64, High: 5715.14, Low: 5674.49

Year-to-date high: 5713.64, Year-to-date low: 4688.68

Previous Year High: 4,783.35, Previous Year Low: 3,808.10

The yield on 30-year US Treasury bonds is 4.084%, while 10-year US Treasury bonds yield 3.744%.

The US stock market was mixed. The Dow Jones closed at 42,063.36 points, up 38.17 points, while the Nasdaq ended trading at 17,948.32 points, down 65.66 points.

There were mixed feelings due to a sense of exhausted materials at the open. Subsequently, selling to secure profits and selling related to options expiration suppressed upside potential, leading to a decline in the market. However, the Dow remained firm on hopes for a soft landing. Towards the close, as Federal Reserve Board (FRB) Governor Waller mentioned the possibility of further 0.5% rate cuts depending on the labor market conditions, the Dow recovered to the positive territory, updating record highs daily. On the other hand, long-term interest rates stopped falling and high-tech remained weak throughout the day, closing mixed. By sector, the utilities industry rose, while transportation fell.

Semiconductor company Intel (INTC) rose on reports that its competitor Qualcomm (QCOM) made a takeover offer. Energy company Consolidation Energy (CEG), which produces sustainable solutions, restarted its Three Mile Island nuclear power plant and agreed to a 20-year contract with software maker Microsoft (MSFT) as its artificial intelligence (AI) power source, resulting in a significant increase in carbon-free electricity sales.

Sporting goods company Nike (NKE) rose as Elliott Hill, a former executive, was appointed as the CEO and President after Donahoe. Apple (AAPL) in the smartphone sector was subdued due to profit-taking sales with the launch of the iPhone 16. Residential construction company Lennar (LEN) fell below profit margin estimates due to positive quarterly incentives.

FRB's Bowman supported a 0.25% rate cut at the Federal Open Market Committee (FOMC) meeting, explaining that a slight rate cut at an early stage is desirable to avoid premature victory claims.

(Horiko Capital Management LLC)