日経平均採用銘柄では、資生堂＜4911＞、安川電機＜6506＞、ファナック＜6954＞など中国関連銘柄の一角が買われたほか、米テック株の上昇を受けて、レーザーテック＜6920＞、東京エレクトロン＜8035＞、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、荏原製作所＜6361＞、住友鉱＜5713＞、オムロン＜6645＞、レゾナック＜4004＞などが買われた。The Nikkei average continued to rise slightly. It closed the morning session at 38,964.65 yen, up 39.02 yen (+0.10%) from the previous day, with an estimated volume of 930 million shares.
The U.S. stock market rose on the 26th. The Dow Jones Industrial Average closed at 42,175.11, up 260.36 points (+0.62%), the Nasdaq closed at 18,190.29, up 108.08 points (+0.60%), and the S&P 500 closed at 5745.37, up 23.11 points (+0.40%), driven by better-than-expected economic indicators, leading to buying due to improving economic outlook. After the opening, supported by China's government plan to strengthen fiscal support to achieve growth targets, expectations of demand recovery also provided support. Micron's rise in semiconductors led the Nasdaq. The market remained strong throughout the day and closed positively.
With the backdrop of higher U.S. stocks and a weaker yen in the foreign exchange market, the Tokyo market started trading in a buying trend. The Nikkei average started recovering the 39,000 yen level for the first time since September 2, but faced resistance due to ex-dividend trading and consciousness of the over 1,000 yen rise from the previous day. The upcoming vote for the new leader of the ruling Liberal Democratic Party in the afternoon also became a factor for cautious trading.
Among the Nikkei 225 constituents, Shiseido Company, Limited Sponsored ADR (4911), Yasukawa Electric Corp. (6506), Fanuc Corp (6954) among Chinese-related stocks were bought. Following the rise in U.S. tech stocks, Laser Tech (6920), Tokyo Electron Ltd. Unsponsored ADR (8035), Renesas Electronics (6723) and other semiconductor stocks also rose. Additionally, Ebara Corporation (6361), Sumitomo Metal Mining Co., Ltd. (5713), Omron Corp (6645), Resonant Inc (4004) were bought.
However, due to the decline in crude oil prices, ENEOS Holdings, Inc. (5020), INPEX Corporation (1605) decreased. Financial stocks like Sumitomo Mitsui Trust Holdings Inc. (8309), Sumitomo Mitsui Financial Group, Inc. (8316), Concordia Financial Group Ltd. (7186), Mizuho Financial Group, Inc. (8411), MS&AD Insurance Group Holdings, Inc. (8725), Nomura Holdings, Inc. (8604) were generally sold off. Additionally, Obayashi Corp (1801), Taisei Corp (1802), Nichirei Corp (2871), Nidec Corporation Sponsored ADR (6594) also experienced declines.
By industry sector, machinery, precision instruments, chemicals, textiles & apparels, rubber products among others rose, while petroleum & coal products, mining, pulp & paper, banking, securities & commodity futures trading showed declines.
The voting for the Liberal Democratic Party's leadership election started at 13:00, with results expected around 14:20. With 9 candidates running and no clear favorite, a run-off vote is highly anticipated. The results of the run-off will likely be announced around 15:40 post-market close, so the Tokyo market in the afternoon is expected to be cautious. There are speculations of a 'Takamichi trade' involving financial stocks and growth market shares, but if Takamichi loses in the first round of results, the possibility of significant retracement in these stocks needs attention.
