日経平均採用銘柄では、ナスダック大幅安を受けて、ソフトバンクグループ＜9984＞、アドバンテスト＜6857＞、ソシオネクスト＜6526＞、レーザーテック＜6920＞、東京エレクトロン＜8035＞など半導体株が総じて安い。また、昨日買い優勢となった三菱自＜7211＞やマツダ＜7261＞など自動車株の一角が反落、ホンダ＜7267＞は続落で年初来安値を更新した。このほか、東京建物＜8804＞、住友不動産＜8830＞、三菱地所＜8802＞、三井不動産＜8801＞など不動産株が弱い。The Nikkei average has declined for five consecutive days. It ended the morning session down 373.33 yen (-0.96%) at 38708.38 yen, with an estimated volume of 1.2 billion shares.
The U.S. stock market continued to decline on the 18th. The Dow Jones Industrial Average dropped by 1123.03 dollars to 42326.87 dollars, while the Nasdaq fell by 716.37 points to 19392.69 points. With the Federal Open Market Committee (FOMC) results announcement approaching, there was a strong sense of wait-and-see, and the market fluctuated after the opening. While the Dow average had continued to decline until the previous day, it saw buying in some major stocks, leading to a rise, whereas the Nasdaq started off with a slight decline. As expected, the main policy interest rate was lowered by 0.25%, but the decrease in the forecast for interest rate cuts in 2025 from previous estimates led to disappointment and a decline. Subsequently, with the rise in long-term interest rates, the extent of the decline widened.
In response to the significant drop in U.S. stocks, the Tokyo market also began trading with selling pressure. The Nikkei average experienced a drop of over 700 yen at one point compared to the previous day, but after the selling subsided, it gradually reduced the extent of the decline. There is a growing view that the results of the Bank of Japan's monetary policy meeting, announced today, are likely to keep interest rates unchanged, which appears to be providing reassurance to the market. The rise in U.S. interest rates has also supported the currency, with the exchange rate at around 154 yen to the dollar, indicating a weaker yen compared to the previous day.
In the Nikkei Average constituent stocks, following a significant decline in Nasdaq, Semiconductor stocks such as SOFTBANK GROUP CO <9984>, ADVANTEST <6857>, SOCIONEXT <6526>, LASERTEK <6920>, and Tokyo Electron Ltd. Unsponsored ADR <8035> are generally lower. Additionally, some Automobiles stocks like MITSUBISHI MOTORS <7211> and MAZDA MOTOR CRP <7261>, which were favored for buying yesterday, have declined, while HONDA <7267> continues to drop, setting a new year-to-date low. Furthermore, A-REIT ETF stocks like TOKYO TATEMONO <8804>, SUMITOMO REAL ESTATE <8830>, MITSUBISHI ESTATE <8802>, and MITSUI FUDOSAN <8801> are weak.
On the other hand, NISSAN MOTOR <7201>, which hit the price limit yesterday, fluctuated wildly and at one point fell into the negative territory compared to the previous day before rising. Marine Shipping stocks like KAWASAKI KISEN <9107> and NYK LINE <9101> were also bought. In addition, IHI <7013>, YAMATO HD <9064>, NTN <6472>, SUMITOMO CHEMICAL <4005>, ASAHI <2502>, and Canon Inc-Spons Adr <7751> saw gains.
By sector, Electric Appliances, Nonferrous Metals, A-REIT ETF, Petroleum and Coal Products, and Electric Appliances experienced declines, while Marine Shipping, Other Products, Warehouse and Transport-related, Textiles, and Food Products rose.
The market is watching for around what time the results of the Bank of Japan's monetary policy decision meeting will be reported. Due to the thorough examination of the FOMC results announced in the early hours and the discussions on the 'Multifaceted Review' summarizing the unconventional monetary easing policies implemented over the past 25 years since 1998, the announcement is expected to be delayed. In the market, there may also be reactions in the futures and currency markets based on the anticipation of a later announcement time. The latter half of the Tokyo market may display rough price movements due to speculative trading. The Nikkei Average has the possibility of turning around sharply or declining further, hence caution is advised against volatility.
