In the ADR (American Depositary Receipt) Japanese stocks, compared to the Tokyo Stock Exchange (converted at 1 dollar to 143.61 yen), Japan Post <6178>, Mizuho FG <8411>, SMC <6273>, Mitsubishi Real Estate <8801>, Tokyo Electric <8035>, Toyota Motor <7203>, Advantest <6857>, etc. rose, with a general buying preference. The Chicago Nikkei 225 futures clearing price was 185 yen higher than Osaka during the day at 38,115 yen.

The US stock market rose. The Dow Jones rose 17.15 points to 42,330.15, while the Nasdaq closed at 18,189.17, up 69.58 points. Ahead of Federal Reserve Board (FRB) Chairman Powell's speech, a cautious tone strengthened, leading to mixed trading after the opening bell. Buying prevailed as the September Chicago Purchasing Managers' Index unexpectedly improved, but disappointment set in when Chairman Powell hinted at a slight pace of rate cuts, resulting in a temporary sharp turn to selling. The Nasdaq was displeased with the rise in long-term interest rates, but the rise in mobile device Apple provided support, leading to a recovery into positive territory towards the end of the session. At the end of the month, buoyed by optimistic views of the chairman amidst adjustments at the end of the quarter, hopes for a soft landing drove buying, with the Dow rising towards the end, setting new all-time highs for consecutive days.

In the New York foreign exchange market on September 30th, the dollar-yen rate rose from 142.50 yen to 143.91 yen, closing at 143.67 yen. Despite expectations of deterioration, the US September Chicago Purchasing Managers' Index (PMI) and the September Dallas Federal Reserve manufacturing activity index unexpectedly improved, leading to a dominance of dollar buying. During a speech, Federal Reserve Board (FRB) Chairman Powell mentioned that the economy is generally strong, and that the rate cuts are not reflecting a weak economy, but rather to maintain a strong economy. This led to a retreat in active rate cut speculations, and further bolstered dollar buying due to the rise in long-term interest rates. The euro-dollar rate fell from 1.1200 dollars to 1.1114 dollars, closing at 1.1133 dollars. Germany's preliminary CPI for September slowed more than expected, hitting a record low since February 2021. Additionally, European Central Bank (ECB) President Lagarde's suggestion of a possibility of additional rate cuts at the October meeting created selling pressure on the euro.

NY crude oil futures for November were mixed (NYMEX crude oil November futures closing price: 68.17, down 0.01).

Top ADR gainers (30th)

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<6988> Nitto Denko $45.05 2588 yen (199.5 yen) +8.35%

<6178> Japan Post $10 1436 yen (70 yen) +5.12%

<7259> Aisin Seiki $33.94 1625 yen (¥48) +3.04%

<8411> Mizuho Financial Group $4.18 3001 yen (¥65) +2.21%

<7532> Pan Pacific Holdings $26.2 3763 yen (¥68) +1.84%

Bottom performing ADRs (30 days):

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<7182> Japan Post Bank $8.2 1178 yen (-¥160) -11.96%

<8750> Dai-ichi Life Holdings $22.6 3246 yen (-¥436) -11.84%

<5020> ENEOS $10.3 740 yen (-¥38.7) -4.97%

<2801> Kikkoman $22 1580 yen (-$48) -2.95%

<9735> Secom $17.98 5164 yen (-$130) -2.46%

■ Other ADR stocks (30 days)

Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison

<2914> Japan Tobacco Inc. $14.55 4179 yen ($0)

<3382> Seven & I Holdings Co Ltd $14.97 2150 yen ($3)

<4063> Shin-Etsu Chemical Co Ltd $20.82 5980 yen ($3)

<4502> Takeda Pharmaceuticals SP ADR $14.22 4084 yen (-$19)

<4519> Chugai Pharmaceutical Co., Ltd. $24.09 6919 yen (-$13)

<4543> Terumo Corporation $18.72 2688 yen (-$12)

<4568> Daiichi Sankyo Co., Ltd. $32.92 4728 yen (+$19)

<4661> Orient Land Co., Ltd. $25.69 3689 yen (-$9)

<4901> Fujifilm Holdings Corporation $12.86 3694 yen (+$6)

<5108> Bridgestone Corporation Unsponsored ADR $19.26 5532 yen (+$32)

<6098> Recruit Holdings Co., Ltd. $12.13 8710 yen (+$5)

<6146> DISCO Corporation $26.3 37769 yen (+$279)

Japan Post <6178> 10 dollars 1436 yen (70 yen)

Toyota Industries <6201> 76.6 dollars 11001 yen (-24 yen)

SMC <6273> 22.4 dollars 64337 yen (687 yen)

Komatsu <6301> 27.73 dollars 3982 yen (16 yen)

Daikin Industries, Ltd. Unsponsored ADR <6367> 13.99 dollars 20091 yen (16 yen)

Hitachi Ltd Sponsored ADR <6501> 53 dollars 3806 yen (25 yen)

Mitsubishi Electric Corp. Unsponsored ADR <6503> 32.27 dollars 2317 yen (13.5 yen)

Nidec Corp <6594> 10.5 dollars 3016 yen (10 yen)

<6702> Fujitsu $20.5 2944 yen (+8.5 yen)

<6723> Renesas $7.23 2077 yen (-2 yen)

<6758> Sony $96.57 2774 yen (-3.5 yen)

<6857> Advantest $47.3 6793 yen (+52 yen)

<6902> Denso $14.84 2131 yen (+5.5 yen)

<6954> Fanuc $14.61 4196 yen (+6 yen)

<6981> Murata Manufacturing $9.83 2823 yen (+16.5 yen)

<7182> Japan Post Bank $8.2 1178 yen (-160 yen)

<7203> Toyota Motor $178.57 2564 yen (+21.5 yen)

<7267> Honda Motor Co., Ltd. $31.73 1519 yen (+11.5 yen)

<7741> HOYA $138.4 19876 yen (+91 yen)

<7751> Canon Inc-Spons ADR $32.9 4725 yen (+22 yen)

<7974> Nintendo Co Ltd $13.32 7652 yen (+16 yen)

<8001> Itochu Corporation $107.4 7712 yen (+34 yen)

<8002> Marubeni Corporation $163.06 2342 yen (+2 yen)

<8031> Mitsui & Co Ltd $444.16 3189 yen (+11 yen)

<8035> Tokyo Electric Corporation is at $88.83, ¥25514 (+¥224).

<8053> Sumitomo Corporation is at $22.37, ¥3213 (+¥19).

<8058> Mitsubishi Corporation is at $20.56, ¥2953 (+¥0.5).

<8306> Mitsubishi UFJ Financial Group is at $10.18, ¥1462 (+¥8.5).

<8316> Mitsui Sumitomo Financial Group is at $12.63, ¥3023 (-¥22).

<8411> Mizuho Financial Group is at $4.18, ¥3001 (+¥65).

<8591> Orix Corporation is at $116.05, ¥3333 (+¥15).

<8725> MS&AD Insurance Group Holdings Inc. is at $23.08, ¥3315 (-¥15).

<8766> Tokio Marine Holdings $36.65 5263 yen (+$0.32)

<8801> Mitsui Fudosan $28.2 1350 yen (+$0.12)

<9432> NTT $25.58 147 yen (+$0.2)

<9433> KDDI $15.92 4573 yen (-$0.21)

<9983> Fast Retailing $33.1 47535 yen (+$1.15)

<9984> SoftBank Group $29.51 8476 yen (+$0.49)