The Nikkei average rose for the third consecutive day. It closed the morning session at 39,748.13 yen, up 214.81 yen (+0.54%) from the previous day, with an estimated trading volume of 1,090 million shares.

On the 11th, the U.S. stock market continued to rise. The Dow Jones rose by 304.14 points to 44,293.13, and the Nasdaq rose by 11.99 points to 19,298.76 at the close of trading. Buyers continued to expect regulatory relaxation and growth prioritization policies from the upcoming Trump administration, leading to an increase after the opening. Later, with Veterans Day holiday causing bond markets to be closed, creating a lack of material, rotation led to buying of small-cap stocks while high-tech stocks were sold, causing a temporary decline in the Nasdaq. The Dow remained strong throughout the day, setting new record highs for consecutive days, supporting the overall market and enabling the Nasdaq to recover into positive territory by the close.

Encouraged by the strong performance of the U.S. stock market, the Tokyo market started trading slightly inclined towards buying. The Nikkei average, after a slight rise at the start, was seen to rise to 39,866.72 yen, but due to the weakness in semiconductor stocks, the upside remained heavy. However, buying interest in earnings announcement stocks continued, and the trading value in the main board market increased to 2.2 trillion yen, further expanding the trading value.

In the Nikkei average component stocks, Recruit Holdings Co., Ltd. <6098> rose to a record high as profit forecasts turned positive following improvements in the U.S. labor market. Net profits of the three major banks exceeded 2 trillion yen, leading to increases in Mizuho <8411>, Sumitomo Mitsui <8316>, and Mitsubishi UFJ Financial Group <8306>. Additionally, Renesas Electronics <6723>, Furukawa Electric <5801>, Nissan Motor Co. <7201>, Mitsubishi Motors <7211>, and Suzuki <7269> also rose.

On the other hand, semiconductor stocks such as Laser Tech <6920>, Advantest <6857>, Disco <6146>, Tokyo Electron <8035> declined due to the lackluster performance of the Philadelphia Semiconductor Stock Index (SOX Index). Furthermore, Screen Holdings <7735> faced aversion after extending the deadline for submitting its semi-annual report. Additionally, DOWA <5714> revised its full-year operating profit forecast upwards, but the stock fell due to not meeting market consensus. Kawasaki Kisen Kaisha <9107>, Toray Industries <3402>, Hitachi <6501>, Taiheiyo Cement <5233>, and others also performed poorly.

In terms of global sectors, rubbers, transportation equipment, services, banks, insurance, etc., saw increases, while only the marine shipping, electric appliances, and fiber sectors experienced declines.

Although there were moments where the exchange rate reached 154 yen to the dollar, it did not provide a tailwind for export-related stocks. In the afternoon session of the Tokyo market, interest shifted towards earnings report stocks more than the morning session, leading to a lack of direction in the Nikkei Average.

The earnings report stocks during trading hours are as follows: in the 12:00 hour, Kajima Corp <1812>, Nissan Securities G <8705>; in the 13:00 hour, SBS Holdings <2384>, Shimizu Corp <1803>, ADEKA <4401>, JUKI Corp <6440>, Takashimaya <8007>; in the 14:00 hour, Daiwa House <1925>, Mitsui Home Road <1776>, Yakult Honsha <2267>, Sumitomo Osaka Cement <5232>, Iwatani Corp <8088>; at 15:00, Sumitomo Mitsui Construction <1821>, Kumagai Gumi <1861>, JGC Holdings <1963>, Sapporo Holdings <2501>, Suntory Beverage & Food <2587>, Tokyo Seiko <5981>, Sharp Corp <6753>, Haseko Corp <1808>, INPEX <1605>, Idemitsu Kosan <5019>, NXHD <9147>, Taiheiyo Cement <5233>, Sumitomo Metal Mining <5713>, Seiko Group <8050> and others are scheduled to announce.