日経平均採用銘柄では、ホンダ＜7267＞と経営統合に向けた協議に入ると報じられたことで日産自＜7201＞が一時ストップ高。また、日産自が筆頭株主の三菱自＜7211＞も大幅高となったが、ホンダは売り優勢となった。この報道が刺激材料となり、マツダ＜7261＞、日野自動車＜7205＞、SUBARU＜7270＞、トヨタ自＜7203＞、スズキ＜7269＞など自動車関連が総じて上昇。ジェイテクト＜6473＞など自動車部品会社も買われた。このほか、ディスコ＜6146＞、太陽誘電＜6976＞、荏原製作所＜6361＞などが買われた。The Nikkei average has fallen for four consecutive days, ending the morning trading session at 39,281.06 yen, down by 83.62 yen (-0.21%) compared to the previous day (estimated Volume of 1.1 billion 60 million shares).
On the 17th, the US stock market declined. The Dow average ended down 267.58 dollars at 43,449.90 dollars, and the Nasdaq closed down 64.83 points at 20,109.06. Due to the persistently high long-term interest rates, the market dropped after the opening. Although the retail revenue in November that was announced in the morning exceeded market expectations, and the view that the Federal Reserve (FRB) would lower interest rates at the Federal Open Market Committee (FOMC) has not changed, it led to an observation that the pace of interest rate cuts next year may slow down. The uncertainty in monetary policy before the FOMC weighed on the market, with both the Dow and Nasdaq remaining soft throughout the day.
In response to the decline in US stocks, the Tokyo market started with a selling bias. After starting around 39,100 yen, the Nikkei average narrowed its decline and there were even moments of a comeback. With active trading being restrained ahead of the Japan-US central bank meetings, the index movements remained small. The market continues to be in a wait-and-see state.
Among the Nikkei Average constituent stocks, NISSAN MOTOR CO <7201> saw a temporary surge after reports that it would enter discussions for a management integration with Honda <7267>. Meanwhile, Mitsubishi Motors <7211>, of which NISSAN MOTOR CO is the largest shareholder, also rose significantly, while Honda faced a sell-off. This news served as a catalyst for a general rise in automobile-related stocks such as MAZDA MOTOR CRP <7261>, HINO MOTORS <7205>, SUBARU CORP Unsponsored ADR <7270>, Toyota Motor <7203>, and Suzuki <7269>. Additionally, companies like JTEKT <6473> in the auto parts sector were bought up. Other stocks that were bought included DISCO <6146>, TAIYO YUDEN <6976>, and EBARA CORPORATION <6361>.
On the other hand, SOFTBANK GROUP CO <9984>, which was bought yesterday, fell back, and segments related to entertainment such as Sony Group Corp <6758>, NINTENDO CO LTD <7974>, and Bandai Namco HD <7832> also saw declines. In addition, Sumitomo Pharma <4506>, Alps Alpine <6770>, Nitto Denko <6988>, and Casio <6952> also fell.
By sector, Other Products, Information & Communications, Pulp & Paper, Fisheries & Agriculture declined, while Transportation Equipment, Electricity & Gas, Mining, Securities & Commodity Futures, and Petroleum & Coal Products rose.
With the FOMC and the announcement of the Bank of Japan's monetary policy meeting results scheduled for tomorrow, the Tokyo market is likely to continue its modest movement in the afternoon session as well. Given that the Nikkei average is showing steady price movements, a drop below 39,000 yen is expected to be avoided. While there is pressure on the upside, a steady market is expected to persist in the afternoon.
