日経平均採用銘柄では、中国が景気刺激策を打ち出したことで資生堂＜4911＞が買われたほか、安川電機＜6506＞、ファナック＜6954＞、SMC＜6273＞、オークマ＜6103＞、ミネベアミツミ＜6479＞など工作機械関連も買われた。また、アドバンテスト＜6857＞、ルネサスエレクトロニクス＜6723＞など半導体株の一角が上昇。このほか、ダイキン＜6367＞、TOTO＜5332＞、住友金属鉱山＜5713＞などが買われた。The Nikkei average continued to rise for 5 days. It closed the morning session at 38,068.22 yen, up 127.63 yen (+0.34%) from the previous day, with an estimated volume of 0.76 billion shares traded.
The U.S. stock market continued to rise on the 24th. The Dow Jones Industrial Average closed at 42,208.22, up 83.57 points (+0.20%), the Nasdaq rose 100.25 points (+0.56%) to 18,074.52, and the S&P 500 closed at 5,732.93, up 14.36 points (+0.25%). Expectations of additional rate cuts by the end of the year and China's stimulus measures improved the outlook for the global economy, leading to a rise after the opening. However, optimism about the economy waned after the consumer confidence index for September fell below expectations, leading to selling. Profit-taking sales were observed from near record highs in the Dow, which struggled to grow. The Nasdaq saw strong buying interest in semiconductor stocks like Nvidia driven by AI demand, resulting in a steady rise and pushing up the market. The Dow recovered into positive territory and set new record highs for consecutive days towards the end of the session.
The rise in U.S. stocks and the yen's appreciation against the dollar, with the exchange rate at the early 143 yen/dollar range, led to a lack of direction in the Tokyo market. While the current Nikkei average has risen for 4 days, making it susceptible to profit-taking selling, semiconductor stocks were generally up, supported by rising U.S. tech stocks like Nvidia. The Nikkei average reached a standoff around the 38,000 yen level after a round of buying and selling.
In the Nikkei average constituent stocks, Shiseido <4911> was bought due to China's stimulus measures. Machinery-related stocks such as Yasukawa Electric <6506>, Fanuc <6954>, SMC <6273>, Okuma <6103>, Minebea Mitsumi <6479> were also bought. Additionally, part of the semiconductor stocks like Advantest <6857> and Renesas Electronics <6723> rose. Furthermore, companies like Daikin <6367>, Toto <5332>, Sumitomo Metal Mining <5713> were bought.
On the other hand, due to increased uncertainty regarding atopic drug candidates, Kose Kirin <4151> experienced a sharp decline. Additionally, the 10-year government bond yield, a key indicator of long-term interest rates, temporarily fell to 0.795% as of August 5, resulting in noticeable declines in financial stocks such as Resona Holdings <8308>, Tokio Marine Holdings <8766>, Sumitomo Mitsui Financial Group <8316>, MS&AD Insurance <8725>, Mitsubishi UFJ Financial Group <8306>. Companies like Terumo <4543>, Nissui <1332>, ZOZO <3092> also experienced declines.
By industry, categories like machinery, glass and stone products, transportation equipment, nonferrous metals, wholesale trade saw increases, while insurance, banking, aquatic/agricultural/forestry, precision instruments, and other products saw declines.
The Shanghai Composite Index and Hang Seng Index in Hong Kong showed strength due to China's stimulus measures, leading to a strong movement in China-related stocks. The afternoon session in the Tokyo market is expected to be driven by the trend in Chinese stocks more than the forex market. If stocks like Fanuc, which have lagged behind, rise further in the afternoon, they are likely to contribute to supporting the Nikkei average.
