Chicago Nikkei futures (CME) (26th)

DEC24

O 38260 (in USD)

H 39535

L 38245

C 39410, TSE comparison +750 (evening comparison +80)

Vol 7659

DEC24

O 38115 (yen basis)

H 39395

L 38100

C 39280, TSE comparison +620 (evening comparison -50)

Vol 28228

Overview of American depositary receipts (ADR) (26th)

In the ADR market, compared to the Tokyo Stock Exchange (1 dollar to 144.76 yen conversion), Tokyo Electron <8035>, Advantest <6857>, Mizuho Financial Group <8411>, Fujitsu <6702>, Renesas <6723>, Komatsu <6301>, Tokio Marine Holdings <8766>, etc., are rising with a general buying preference.

Code Company Name Closing Price Price Difference Converted Price Closing Price in Japan

7203 (TM.N) Toyota Motor 189.36 5.20 2741 14.5

8306 (MUFG.N) Mitsubishi UFJ Financial Group 10.41 0.32 1507 25.5

8035 (TOELY) Tokyo Electric 93.00 8.76 26925 1165

6758 (SONY.N) Sony 98.65 2.64 14281 41

9432 (NTTYY) NTT 26.07 0.39 151 -0.3

8058 (MTSUY) Mitsubishi Corp 21.43 0.43 3102 43

6501 (HTHIY) Hitachi Ltd 55.77 2.90 4037 54

9983 (FRCOY) Fast Retailing 33.52 0.52 48524 624

9984 (SFTBY) Softbank Group 31.30 1.21 9062 170

4063 (SHECY) Shin-Etsu Chemical 21.23 0.73 6147 88

8001 (ITOCY) Itochu Corporation 111.30 3.94 8056 79

8316 (SMFG.N) Sumitomo Mitsui Financial Group 12.90 0.47 9337 163

8031 (MITSY) Mitsui & Co., Ltd. 454.15 11.80 3287 48

6098 (RCRUY) Recruit Holdings 13.09 0.33 9475 107

4568 (DSNKY) Daiichi Sankyo 33.90 1.16 4907 15

9433 (KDDIY) KDDI Corporation 16.74 0.28 4847 19

7974 (NTDOY) Nintendo 13.89 0.69 8043 47

8766 (TKOMY) Tokio Marine Holdings 37.86 1.28 5481 106

7267 (HMC.N) Honda Motor Co., Ltd. 33.57 0.69 1620 5

2914 (JAPAY) Japan Tobacco Inc 14.61 0.33 4230 6

6902 (DNZOY) Denso Corp 15.41 0.29 2231 23

4519 (CHGCY) Chugai Pharmaceutical Co., Ltd. 24.81 0.59 7183 41

4661 (OLCLY) Oriental Land Co., Ltd. 26.45 0.26 3829 15

8411 (MFG.N) Mizuho Financial Group, Inc. 4.14 0.15 2997 102.5

6367 (DKILY) Daikin Kogyo 13.52 0.46 19572 237

4502 (TAK.N) Takeda Yakuhin Kogyo 14.65 0.07 4241 -4

7741 (HOCPY) HOYA 142.56 5.70 20637 307

6503 (MIELY) Mitsubishi Denki 33.57 1.19 2430 29.5

6981 (MRAAY) Murata Seisaku Sho 10.17 0.42 2944 30.5

7751 (CAJPY) Canon 34.01 0.96 4923 28

6273 (SMCAY) SMC 22.67 0.67 65634 1034

7182 (JPPTY) Yucho Ginko 8.15 0.15 1180 -173

6146 (DSCSY) DISCO 27.50 2.20 39809 559

3382 (SVNDY) Seven & i Holdings 15.22 0.25 2203 -3.5

8053 (SSUMY) Sumitomo Corporation 23.35 0.51 3380 36

6702 (FJTSY) Fujitsu 20.95 1.13 3033 103.5

6201 (TYIDY) Toyota Industries 80.25 1.58 11617 182

5108 (BRDCY) Bridgestone 19.44 0.11 5628 54

6178 (JPPHY) Japan Post 10.00 0.00 1448 18

8002 (MARUY) Marubeni 170.44 4.76 2467 38.5

6723 (RNECY) Renesas 7.50 0.29 2171 50

6954 (FANUY) FANUC 14.83 0.50 4294 68

8725 (MSADY) MS&AD Insurance Group Holdings, Inc. 23.82 0.77 3448 42

8801 (MTSFY) Mitsui Fudosan Co., Ltd. 29.80 1.10 1438 21.5

6301 (KMTUY) Komatsu Ltd. 28.35 0.72 4104 85

4901 (FUJIY) Fujifilm Holdings Corporation 13.26 0.32 3839 41

6594 (NJDCY) Nidec Corporation 10.93 0.27 6329 64

6857 (ATEYY) Advantest Corporation 49.60 3.30 7180 280

4543 (TRUMY) Terumo 18.92 0.43 2739 34

8591 (IX.N) Orix 121.78 4.39 3526 38

(Ranked in top 50 by market capitalization, converted at a rate of 1 dollar to 144.76 yen)

Top 5 ADR stock increases (26th)

Code Stock name Closing price Japanese yen conversion price Japanese closing price ratio (%)

5020 (JXHLY) ENEOS 11.79 853 46.4 5.75

4911 (SSDOY) Shiseido 27.57 3991 206 5.44

8035 (TOELY) Tokyo Electron 93.00 26925 1165 4.52

9503 (KAEPY) Kansai Electric Power Co., Inc. 9.23 2672 108 4.21

6857 (ATEYY) Advantest Corp. 49.60 7180 280 4.06

Top 5 ADR stock declines (26th)

Code Stock name Closing price Japanese yen conversion price Japanese closing price ratio (%)

7182 (JPPTY) Japan Post Bank Co., Ltd. 8.15 1180 -173 -12.79

8750 (DLICY) Dai-ichi Life Holdings, Inc. 22.80 3301 -436 -11.67

2801 (KIKOY) Kikkoman Corp. 22.00 1592 -107 -6.30

9107 (KAIKY) Kawasaki Kisen Kaisha, Ltd. 15.08 2183 -51.5 -2.30

8830 (MITEY) Sumitomo Realty 17.00 4922 -77 -1.54

US Stock Market Overview (26th)

NYDOW

Closing Price: 42175.11 Change from Previous Day: 260.36

Opening Price: 42113.42 High: 42224.15 Low: 42036.28

Year-to-Date High: 42208.22 Year-to-Date Low: 37266.67

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

NASDAQ

Closing Price: 18190.29, Change from Previous Day: 108.09

Opening Price: 18327.34, High: 18327.34, Low: 18071.74

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: 5745.37, Change from Previous Day: 23.11

Opening Price: 5762.22, High: 5767.37, Low: 5721.01

Year-to-Date High: 5745.37, 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 4.131% and the yield on 10-year US Treasury bonds is 3.796%.

The US stock market rose. The Dow Jones Industrial Average closed at 42,175.11, up 260.36 points, while the Nasdaq closed at 18,190.29, up 108.08 points.

Following better-than-expected economic indicators, buying sentiment improved with expectations of economic recovery, leading to a rise after the opening. This was supported by China's government indicating a policy to strengthen fiscal support to achieve growth targets, which also acted as a stimulus for demand recovery. Micron (MU) in the semiconductor sector led the gains on the Nasdaq. The market traded positively throughout the day and closed higher. Materials and consumer services sectors rose, while the energy sector declined.

Micron Technology (MU) in the semiconductor sector exceeded its forecast in its quarterly earnings report, resulting in an increase. Wells Fargo (WFC) in the banking sector saw a rise in market sentiment as reports surfaced that it had requested the Federal Reserve Board (FRB) to reconsider asset cap restrictions.

New York Community Bancorp (NYCB) in the regional bank sector rose as analysts raised their investment outlook citing improved financial health. Southwest Airlines (LUV) saw an uptick on strong projections. Starbucks (SBUX) operating the coffee chain rose after analysts upgraded their investment outlook. Accenture (ACN), a consulting company, reported earnings per share and revenue above expectations resulting in an increase.

Super Micro Computer (SMCI), a server manufacturer, experienced a significant decline following a short-selling warning by Hindenburg Research Report, triggering investigations by the Department of Justice, leading to an increase in selling pressure and temporary trading halts.

Costco Wholesale (COST), a membership-based warehouse club retailer, announced its quarterly earnings after the close of trading. It is currently being sold in extended hours trading following mixed results.

(Horiko Capital Management LLC)