The Nikkei Average continued to rise for 3 days, and even though semiconductor stocks led the way, the appreciation of the yen was heavy

Fisco Japan ·  May 16 11:08

The Nikkei Average continued to rise for 3 days. The front-end transaction was closed at 38669.57 yen (estimated turnover 1.19 billion shares), which was 283.84 yen higher (+ 0.74%) compared to the previous day.

The US stock market continued to rise on the 15th. The Dow average closed at 39908.00 dollars, which was 349.89 dollars higher (+ 0.88%), the NASDAQ was 231.21 points higher (+ 1.40%) at 16742.39, and the S&P 500 closed at 5308.15, which was 61.47 points higher (+ 1.17%). Buying, which was expected to cut interest rates by the end of the year in response to a slowdown in consumer price index (CPI) growth in April, was rekindled, and then rose. It was bought mainly by high-tech companies against the backdrop of a drastic drop in long-term interest rates, and remained steady throughout the day. At the end of the game, the increase widened, and the Dow and NASDAQ hit high prices and ended.

In response to the rise in US stocks, the Tokyo market also began trading with a buying advantage. The Nikkei Average expanded the increase to 38897.53 yen in response to the rise in valuable semiconductor stocks, but like the day before, the increase became heavy around 39,000 yen and the increase narrowed. When the exchange rate was in the 153 yen range compared to the day before, the yen appreciated by just over 2 yen and the depreciation of the dollar progressed, and automobile-related matters such as Toyota's own (7203) declined. Since there were not even bank stocks with large market capitalization, TOPIX was negative compared to the previous day.

Among stocks adopted by the Nikkei Average, financial results were viewed as material, and Recruit HD <6098> and Credit Saison <8253> became the buying advantage, and semiconductor stocks such as Tokyo Electron <8035>, Advantest <6857>, DISCO <6146>, and Screen HD <7735> also rose. In addition, TDK <6762>, Ebara Seisakusho <6361>, Terumo <4543>, and Eisai <4523> were bought.

Meanwhile, the Japanese paper <3863> depreciated drastically because the operating profit forecast for the current fiscal year reached market consensus, and Nissin Flour G <2002> and Mitsubishi UFJ <8306> were also sold because financial results were disgusted. Additionally, Sumitomo Pharma (4506), Sumitomo Chemical (4005), Mazda (7261), Konica Minolta (4902), and Oji Holdings (3861) declined.

By industry, while other products, services, electrical equipment, other financial industries, precision instruments, etc. rose, pulp and paper, transportation equipment, steel, banking, petroleum and coal products, etc. declined.

About 65% of stocks in the prime market fall, but the Nikkei Average is in a distorted position to rise. The previous Nikkei average surpassed both the 25-day moving average and the 75-day moving average. I would like to look forward to a development where the rebound trend will intensify since it has surpassed the current upper price resistance line, but there is little material to actively buy Japanese stocks. It is assumed that the situation with little sense of direction will continue until the financial results of semiconductor giant NVIDIA, which are scheduled for 5/22 next week, are passed. The upper price of the Nikkei Average is likely to continue to be heavy in the future.

The translation is provided by third-party software.

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