個別では、川崎船＜9107＞や日本郵船＜9101＞などの海運株、レーザーテック＜6920＞、東エレク＜8035＞などの半導体関連株が堅調に推移。また、トヨタ自＜7203＞、ファーストリテ＜9983＞、ソフトバンクG＜9984＞、キーエンス＜6861＞、リクルートHD＜6098＞、任天堂＜7974＞などが上昇となった。ほか、想定以上の業績上方修正を好感された中外製薬＜4519＞や上半期増益率は一段と拡大する形となったプレミアグループ＜7199＞が急騰、ローツェ＜6323＞、MacbeeP＜7095＞、フリービット＜3843＞などが値上がり率上位となった。The Nikkei average made a significant rebound. It closed the morning session at 38,463.50 yen, up 549.58 yen (+0.9 billion, 44.32 million shares in trading volume).
Last weekend, the Dow Jones Industrial Average closed at 42,114.40 points, down 259.96 points, while the Nasdaq closed at 18,518.61 points, up 103.12 points. The Michigan Consumer Sentiment Index exceeded expectations, leading to buying based on expectations of a soft landing. After opening, the Dow fell due to the decline of McDonald's (MCD) and concerns over rising long-term interest rates. However, the Nasdaq remained strong throughout the day, driven by expectations for major tech companies' earnings.
While observing the mixed performance of the U.S. stock market at the close, the Nikkei Average started with selling pressure due to the ruling party falling below the majority in the weekend House of Representatives election. However, there may have been anticipation of the ruling party falling below the majority in the lower house election, and the selling pressure in the morning subsided, leading to a significant increase later. There is also a growing view that the Bank of Japan will find it difficult to move towards an early additional rate hike due to domestic political uncertainties, which may have contributed to the strengthening of the U.S. dollar and weakening of the yen.
Among individual stocks, shipping stocks like Kawasaki Kisen Kaisha <9107> and Nippon Yusen <9101>, semiconductor-related stocks such as Laser Tech <6920> and Toei Electric <8035> performed well. Toyota Motor <7203>, Fast Retailing <9983>, SoftBank Group <9984>, Keyence <6861>, Recruit Holdings <6098>, Nintendo <7974>, among others, rose. Furthermore, Chugai Pharmaceutical <4519>, which received better-than-expected upward revisions in earnings, and Premier Group <7199>, with a significantly expanding profit rate in the first half, surged. Loze <6323>, MacbeeP <7095>, and Freebit <3843>, among others, were among the top gainers in terms of price increase.
On the other hand, Mitsubishi Heavy Industries <7011>, IHI <7013>, Kawasaki Heavy Industries <7012>, among others, showed a weak performance. Shin-Etsu Chemical <4063>, Fujikura <5803>, also declined. Tokyo Steel <5423>, which saw a significantly unexpected downward revision, and Olympus <7733>, where news of CEO Kaufman's resignation spread, experienced sharp declines. Nomi Bosai <6744>, Japan Steel Works <5631>, Aichi Corporation <6345>, among others, were among the top decliners in terms of price decrease.
By industry sector, transportation equipment, pharmaceuticals, and marine transportation rose, while mining, petroleum and coal products, and chemicals declined.
It is likely that the afternoon Nikkei average stock price will continue to face strong resistance. While the election results may have been partially factored in by last weekend, the question remains whether there will be enough new buying factors for a further increase. First, the Bank of Japan will hold a monetary policy meeting from the 30th to the 31st. It is unlikely that there will be speculation about raising the policy interest rate in this meeting, but attention will be focused on whether a positive stance towards additional rate hikes will be confirmed in the "Economic and Price Outlook Report" released simultaneously and at the press conference of Governor Ueda after the meeting. Furthermore, with the U.S. presidential election on November 5th and the extension of trading hours in the Tokyo market, caution is advised due to immediate uncertainties. As the earnings reports for the July-September quarter pick up pace, the focus may shift towards individual stock selection-led initiatives.
