日経平均採用銘柄では、鉄道インフラ保守にエヌビディアのAI技術を活用と発表した日立＜6501＞が年初来高値を更新したほか、日本製鋼所＜5631＞、三菱重工業＜7011＞、IHI＜7013＞が上昇。また、ソニーグループ＜6758＞が証券会社のポジティブなレポートを材料に買われた。このほか、三越伊勢丹HD＜3099＞、TDK＜6762＞、オムロン＜6645＞、フジクラ＜5803＞などが買われた。The Nikkei Average has risen for 4 consecutive days. It closed the morning session at 37,974.98 yen (+251.07 yen, +0.67% compared to the previous business day) with an estimated volume of 807 million shares.
On the 23rd, the U.S. stock market rose. The Dow Jones rose by 61.29 points (+0.15%) to 42,124.65, the Nasdaq rose by 25.95 points (+0.14%) to 17,974.27, and the S&P 500 closed at 5,718.57, up 16.02 points (+0.28%). Expectations of additional rate cuts within the year led to buying interest. Despite a momentary setback due to a rise in long-term interest rates following better-than-expected September services industry PMI data, the market recovered with buying driven by expectations of a soft landing and comments from Federal Reserve Board (FRB) officials not ruling out substantial additional rate cuts, limiting downward pressure. The market rallied towards the end, maintaining a positive trend with the Dow setting new all-time highs for consecutive days.
After the holiday break, the Tokyo market started trading with a buying preference following the rise in U.S. stocks. The Nikkei Average briefly surpassed the 38,291 yen level, where the 75-day moving average line is positioned. However, the price increase narrowed as buying eased and the yen stabilized, resulting in a standoff around the 38,000 yen level influenced partly by generally low semiconductor stocks.
Among the Nikkei Average constituent stocks, Hitachi <6501>, which announced the utilization of Nvidia's AI technology for railway infrastructure maintenance, reached a new year-to-date high. Japan Steel Works <5631>, Mitsubishi Heavy Industries <7011>, and IHI <7013> also rose. Additionally, Sony Group <6758> was bought on the basis of positive reports from securities firms. Mitsukoshi Isetan Holdings <3099>, TDK <6762>, Omron <6645>, Fujikura <5803>, and others were also bought.
On the other hand, semiconductor stocks such as Renesas Electronics <6723>, Socionext <6526>, Lasertec <6920>, Screen Holdings <7735>, and Tokyo Electron <8035> generally performed poorly. Additionally, companies like Daiichi Sankyo <4568>, Resonant <4004>, Nitori Holdings <9843>, and Eisai <4523> were sold.
In terms of global sectors, precision instruments, electric & gas industry, fisheries & forestry, real estate, and marine transportation experienced gains, while air transportation, land transportation, services industry, pharmaceutical, and banking experienced declines.
The exchange rate is fluctuating around the mid-143 yen to the dollar range, and the post-press conference yen depreciation and dollar appreciation trend following Bank of Japan Governor Kuroda's press conference on the 20th has paused. The Dollar Index remains around the 100.5 level, staying in the vicinity of the year's lows. As the Federal Reserve's stance clarifies and the trend of narrowing the long-term interest rate differentials between Japan and the U.S. is reaffirmed, the exchange rate is expected to gradually move towards yen strength and dollar weakness. In the afternoon forex market session, there is a possibility of a steady trend towards yen strength and dollar weakness, which may further reduce the Nikkei Average's gains. With four consecutive rises, a trend of profit-taking is likely to strengthen.
