At the closing time on the 21st, the number of rising stocks in the Nikkei average constituent stocks was 65, the number of declining stocks was 159, and the number of unchanged stocks was 1.

The U.S. stock market on the 20th was mixed. The Dow Jones rose 139.53 points to 43,408.47, while the Nasdaq closed at 18,966.14, down 21.33 points. Reports of Ukraine launching British-made long-range missiles into Russian territory raised concerns about geopolitical risks, causing a decline after the opening. Federal Reserve Board (FRB) member Bowman expressed a hawkish stance on inflation stagnation, prompting selling due to aversion to rising long-term interest rates. However, attention was drawn to Nvidia's earnings announcement, which is expected to lead the market in semiconductors, and this led to late buying up on Dow, turning the trend positive. The Nasdaq also narrowed its decline but failed to return to the positive territory, closing mixed.

In the earnings report for nvidia for the period from August to October announced just after 6 AM Tokyo time, revenue was $35.082 billion, surpassing market financial estimates of $33.162 billion. Furthermore, the adjusted earnings per share also exceeded the market financial estimates at $0.81 against the expected $0.75. On the other hand, a forecast for fourth-quarter revenue of $37.5 billion was provided. Although this exceeded the market financial estimates of $37 billion, the upward revision was slight, causing nvidia's stock price to drop by about 5% in extended hours trading after the announcement.

The Tokyo market started trading with little movement, but as a result of NVIDIA's earnings reports and the trend of extended hours trading, a corner of the semiconductor-related stocks such as Advantest <6857> and Disco <6146> widened their declines, leading to the Nikkei average gradually extending its losses. There were moments when it briefly fell below 38,000 yen. However, overall, banking stocks like megabanks rose due to additional rate hike expectations from the Bank of Japan. In relative strength, while the TOPIX remained resilient, the Nikkei average avoided a sharp decline and consolidated around the 38,000 yen level.

The Nikkei average at the close was down 326.17 yen from the previous day (-0.85%) to 38,026.17 yen. The trading volume on the Tokyo Stock Exchange Prime Market was 1.680.05 million shares, with a turnover of 3.720.7 billion yen. By global sectors, mining, precision instruments, retail, land transportation, and machinery declined, while only nonferrous metals, banks, and textiles sectors rose. The number of advancing issues on the Tokyo Stock Exchange Prime Market was 44%, compared to 51% for declining issues.

The top contributor to the decline was Fast Retailing <9983>, which pushed the Nikkei average down by approximately 105 yen with one stock. Advantest <6857> ranked second, followed by SoftBank Group <9984>, TDK <6762>, Sony Group <6758>, Nichicon <6988>, and Toyo Electric <8035>, among others.

On the other hand, the top contributor to the increase was M3 <2413>, which pushed the Nikkei average up by approximately 4 yen with one stock. Fanuc Corp <6954> ranked second, followed by Daikin Industries, Ltd. unsponsored ADR <6367>, Keyence <6861>, Suzuki Motor <7269>, Sumitomo Electric Industries <5802>, and Dentsu Group <4324>, among others.

* As of 15:00

Nikkei Stock Average 38026.17 (-326.17)

Number of advancing issues 65 (contribution +48.67)

Number of declining issues 159 (contribution -374.84)

Number of unchanged issues　1

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