At the closing of the previous day, the Nikkei average constituents' price movements were up 163 stocks, down 60 stocks, and unchanged 2 stocks.

The Nikkei average posted a large rebound, closing the morning session at 38,476.33 yen, up 556.78 yen (+1.47%) from the previous day, with a rough estimate of 0.980 million shares traded.

The U.S. stock market rose on September 30th. The Dow Jones Industrial Average closed at $42,330.15, up 17.15 points (+0.04%), while the Nasdaq rose 69.58 points (+0.38%) to 18,189.17, and the S&P 500 ended trading at 5,762.48, up 24.31 points (+0.42%). The unexpected improvement in the September Chicago Purchasing Managers' Index led to dominant buying sentiment. However, Chairman Powell of the Federal Reserve Board (FRB) hinted at a slight rate cut pace, causing a temporary shift to significant selling due to disappointment. Nasdaq was unnerved by the rise in long-term interest rates but Apple's gains provided support, helping the market recover to positive territory towards the end. Month-end, combined with optimistic views from the chairman amidst adjustments at the end of the quarter, fueled buying expectations for a soft landing, pushing the Dow higher and setting new record highs daily.

The Tokyo market started trading on a buy side following the rise in U.S. stocks and the slight relief in the strong yen trend. The Nikkei average recovered the 38,000 yen level from the previous significant decline. The buying momentum continued to slowly expand. In the morning, early rate hike expectations receded following the major opinions expressed at the Bank of Japan's BOJ monetary policy meeting on September 19-20. The exchange rate briefly advanced to the 144 yen per dollar range as the yen weakened and the dollar strengthened, providing material for large-cap stock buybacks.

In Nikkei average constituent stocks, defense-related stocks such as Kawasaki Heavy Industries <7012>, Mitsubishi Heavy Industries <7011>, IHI <7013>, and Nippon Steel <5631> were generally bought, while trading companies such as Mitsui & Co <8031>, Sumitomo Corporation <8053>, Itochu Corporation <8001>, and Marubeni <8002> also rose. In addition, TDK <6762>, Fujikura <5803>, and Nitto Denko <6988> rose, while semiconductor stocks such as Renesas Electronics <6723> and Tokyo Electron <8035> were also bought.

On the other hand, yen-benefiting stocks such as Nitori Holdings <9843>, ZOZO <3092>, Nichirei <2871>, and Sapporo HD <2501> were generally sold off, while railway stocks such as Odakyu <9007>, Tokyu <9005>, JR Tokai <9022>, and Keio Electric Railway <9008> declined as the listing of Tokyo Metro was again recognized with its arrival in October. In addition, China-related stocks such as Shiseido <4911> and Fanuc <6954> were also sold.

By industry sector, machinery, wholesale trade, securities and commodity futures trading, electric appliances, and insurance were bought, while air transportation, land transportation, pulp and paper, textiles & apparels, and steel were sold.

The top contributor to the rise was Tokyo Electron <8035>, which pushed the Nikkei average up by about 74 yen with one stock. The second place was taken by Fast Retailing <9983>, followed by TDK <6762>, SoftBank Group <9984>, Advantest <6857>, Shin-Etsu Chemical <4063>, Recruit Holdings <6098>, etc.

On the other hand, the top contributor to the decline was Nitori HD <9843>, which pushed the Nikkei average down by about 6 yen with one stock. Fanuc <6954> ranked second, followed by Bandai Namco HD <7832>, ZOZO <3092>, Daikin <6367>, Nidec <6594>, Konami Group <9766>, and others.

*As of 11:30.

Nikkei Average Stock Price 38476.33 (+556.78)

Number of advancing stocks 163

Number of declining stocks 60

Number of unchanged stocks 2

○ Top advancing stocks

Code Stock Recent Price Daily Change Contribution

<8035> Tokyo Electron Ltd. Unsponsored ADR 26050 760 74.97

<9983> Fast Retailing Co., Ltd. 48210 790 70.14

<6762> TDK 1921.5 98.5 48.58

<9984> SoftBank Group Corp. 8629 202 39.85

<6857> Advantest Corporation 6883 142 37.35

<4063> Shin-Etsu Chemical Co., Ltd. 6105 128 21.04

<6098> Recruit Holdings Co., Ltd. 8886 181 17.85

<9433> KDDI Corporation 4671 77 15.19

＜6988＞ NITTO DENKO 　 　 　　 2468.5 　　80　13.15

＜4519＞ CHUGAI PHARMACEUTICAL 　 　 　 　 7051 　 119　11.74

＜9613＞ NTT DATA CORPORATION 　 　 　2643.5 　　69　11.34

＜6146＞ DISCO 　 　 　 　 39060 　1570　10.32

＜8001＞ ITOCHU CORPORATION 　 　 　　7933 　 255 　8.38

＜4543＞ THERMO 　 　 　 　 2731.5 　31.5 　8.29

＜7733＞ OLYMPUS 　 　 　 2778.5 　　60 　7.89

＜8031＞ MITSUI & CO. 　 　 　 　 3296 　 118 　7.76

<8058> Mitsubishi Corporation 3020 67.5 6.66

<8766> Tokio Marine Holdings, Inc. 5355 124 6.12

<5803> Fujikura Ltd. 4987 169 5.56

<8015> Toyota Tsusho Corporation 2640.5 55.5 5.47

Top decreasing stocks

Code Security Closing Price Change Contribution

<9843> Nitori Holdings Co., Ltd. 21415 -380 -6.25

<6954> Fanuc Corporation 4168 -22 -3.62

NAMCO BANDAI Holdings Inc. 3247 -29 -2.86

ZOZO Inc. 5130 -84 -2.76

Daikin Industries, Ltd. Unsponsored ADR 20000 -75 -2.47

Nidec Corporation Sponsored ADR 2965 -41.5 -2.18

KONAMI HOLDINGS CORP. 14480 -65 -2.14

Trend Micro Inc. 8424 -62 -2.04

Dentsu Group Inc. 4353 -54 -1.78

Shiseido Company,Limited Sponsored ADR 3821 -54 -1.78

<4452> Kao             7060   -49  -1.61

<2802> Ajinomoto            5517   -29  -0.95

<2871> Nichirei           4420   -47  -0.77

<9022> JR Tokai            3274   -43  -0.71

<8267> AEON            3879   -20  -0.66

<2282> NH Foods           5294   -39  -0.64

<8252> Marui Group             2372 -18.5  -0.61

<4385> Mercari           2491   -16  -0.53

<4021> Nissan Chemical 5110 -16 -0.53

<9007> Odakyu Electric Railway 1568 -31 -0.51