[Nikkei Average Stock Price・TOPIX (Table)]
Nikkei Average;38950.28;+136.70
TOPIX;2722.35;+8.52
[Market Opening Overview]
On the 20th, the Nikkei average opened trading at 38950.28 yen, up 136.70 yen and rebounded for the first time in six days. The U.S. stock market on the previous day, the 19th, was mixed. The Dow Inc was up 15.37 dollars at 42342.24 dollars, while the Nasdaq closed down 19.93 points at 19372.77. After the opening, stocks rose. Viewing the previous day's sharp drop as excessive after the Federal Reserve indicated a slowdown in additional rate cuts during the Federal Open Market Committee (FOMC) meeting, there was a movement to buy back. With the domestic GDP for the July-September period announced in the morning being revised upward and a decrease in the number of new unemployment insurance applicants indicating an expansion of economic activity, long-term interest rates rose, weighing on the market and causing stagnation. As the session progressed, selling became dominant, leading to a decline in the Nasdaq.
Today, the Tokyo stock market saw buying lead. In the foreign exchange market, the exchange rate for 1 dollar was in the 157 yen 70 sen range, which was about 2 yen weaker compared to around 15:30 yesterday, supporting the stock prices of exporting companies in the Tokyo market. Additionally, the Nikkei average had fallen over 1000 yen for five consecutive days until yesterday, making it easier for buying aimed at self-rebound or wait for dipping prices. On the other hand, although the Dow average slightly rebounded for the first time in 11 days in the U.S. stock market yesterday, the Nasdaq Composite Index and the Philadelphia Semiconductor Index (SOX Index), which consists of major semiconductor-related stocks, saw declines, which weighed on the Tokyo market's stock prices. Furthermore, the rise in U.S. long-term interest rates in overseas markets yesterday also contributed to suppressing stock prices in the Tokyo market. Additionally, as the U.S. Personal Consumption Expenditures (PCE) price index for November, which is considered significant by the Federal Reserve, is to be announced tonight, there were those who opted to hold back on aggressive buying to see the outcome, but buying was dominant at the opening phase. Also, the national Consumer Price Index (CPI) for November, released before the start of trading, showed that the overall index excluding fresh food rose by 2.7% compared to the same month last year. The median market forecast compiled by QUICK was an increase of 2.6%.
By sector, Oil & Coal Products, Real Estate, Marine Transportation, Transportation Equipment, and Mining saw the highest price increases, while Banking, Precision Instruments, Other Products, and Communications saw price declines. In the top trading volumes on the Tokyo Stock Exchange Main Board, Kioxia HD, Mitsui E&S, MITSUBISHI ESTATE, ENEOS, Mitsui Fudosan, Kawasaki Shipping, Sumitomo Forestry, ZOZO, Toyota, Sony Group Corp, Rakuten, Mitsui O.S.K. Lines, NYK Line, Honda, and Canon Inc-Spons Adr rose. On the other hand, Resona Holdings, HOYA, Fujikura, Nitori HD, Mitsubishi UFJ, Advantest, Sanrio, Mitsui Sumitomo, Mizuho, Lasertec, Disco, IHI, NINTENDO CO LTD, SoftBank Group, and 7&i HD fell.
