The Nikkei average rose significantly for the third consecutive day. It closed the morning session at 39,390.49 yen, up 486.81 yen (+1.25%) from the previous day, with an estimated volume of approximately 910 million shares traded.

The US stock market on the 29th was mixed. The Dow Jones fell by 154.52 points to 42,233.05, while the Nasdaq rose by 145.56 points to 18,712.75 at the end of trading. As job vacancies in JOLT decreased more than expected, concerns about cooling labor markets and economic slowdowns led to selling pressure after the market opened, resulting in a decline. The Dow fell due to aversion to the rise in long-term interest rates. However, it later stabilized as consumer confidence improved and the results of the Treasury's 7-year bond auction were favorable, causing interest rates to stagnate. The Nasdaq rose throughout the day on expectations of rate cuts and major high-tech company earnings, setting a new record high by pushing up gains towards the end of the day.

With strong performance of high-tech stocks in the US market and favorable earnings from Alphabet as catalysts, the Tokyo market started trading with a dominance in buying main stocks. After the Nikkei average recovered the 39,000 yen level, it gradually expanded its gains, maintaining the 39,000 yen level in the morning. Trading value on the main board market increased to 2.3 trillion yen compared to the previous day, indicating an increased interest in buying physical stocks.

In the Nikkei average-listed stocks, following the rise in US high-tech stocks, Disco <6146> surged significantly, while Laser-Tec <6920>, Renesas Electronics <6723>, Socionext <6526>, Advantest <6857>, and other semiconductor-related stocks increased overall. In addition, Fujikura <5803>, Furukawa Electric <5801>, Sumitomo Electric <5802>, and other wire stocks were also bought. Tokyo Electric Power HD <9501>, Kansai Electric Power <9503>, Chubu Electric Power <9502> and other electric power stocks rose on the news of the restart of the Hamaoka Nuclear Power Plant. Additionally, Keyence <6861>, SMC <6273>, HOYA <7741>, Nidec <6594>, and others also rose.

On the other hand, Hino Motors <7205> fell significantly after announcing a forecast of a ¥220 billion loss for the current fiscal year. Komatsu <6301> became more sell-dominant even after announcing an upward revision in full-year operating profit forecast in the earnings report, failing to meet market expectations, and Hitachi Construction Machinery <6305> also fell. Furthermore, Daiwa Securities Group <8601> was sold off due to the absence of shareholder return policies despite good earnings. In addition, Chugai Pharmaceutical <4519>, NEC <6701>, Nitori Holdings <9843>, Sharp <6753>, DeNA <2432>, and others declined.

By global sectors, electrical utilities, nonferrous metals, precision instruments, machinery, glass and stone, etc., rose while only the two sectors of retail and securities and commodity futures trading declined.

The exchange rate is hovering around the mid-153 yen per dollar range without any noticeable movements. From today, the 30th to tomorrow the 31st, a Bank of Japan monetary policy meeting will be held, but it is observed that the Bank of Japan is unable to move due to the uncertainty in post-House of Representatives election government operations and various factors such as the results of the US presidential election. While BOJ Governor Kuroda has expressed a positive view on raising interest rates, he is expected to focus on assessing the US economy, leading to a lack of clear direction in the foreign exchange market after the BOJ meeting.

In the afternoon session of the Tokyo market, if European investors enter the spot market to buy, there is a possibility that the Nikkei average will rise further in the afternoon session. It's likely to be the opposite market sentiment from the continuous downward trend before the election.