ADRs of Japanese stocks such as Yucho Bank (7182), Disco (6146), Renesas (6723), Advantest (6857), SoftBank Group (9984), Tokyo Electron (8035), and Hitachi (6501) fell and overall selling pressure increased compared to the Tokyo Stock Exchange (at an exchange rate of 1 USD = 144.55 JPY). The Chicago Nikkei 225 futures settlement price was 38,035 JPY, down 5 JPY from the Osaka daytime session.

The US stock market was mixed. The Dow Jones Industrial Average closed at 41,240.52 USD, up 65.44 points, while the Nasdaq closed at 17,725.77 USD, down 152.02 points. Following expectations of a rate cut based on Federal Reserve Chairman Powell's speech at the Jackson Hole meeting, the Dow rose after the opening. It continued to rise as durable goods orders and the Dallas Fed's manufacturing activity index exceeded expectations, sparking hopes of a soft landing. However, concerns about the Middle East situation limited the upside, resulting in a loss of momentum towards the end of the trading session, although the Dow reached a new all-time high. The rise of long-term interest rates, combined with the upcoming earnings season and declines in the semiconductor sector such as Nvidia (NVDA), weighed on the Nasdaq, which turned into selling pressure and ended the day on a soft note.

In the New York foreign exchange market on the 26th, the USD/JPY pair rose from 143.83 JPY to 144.65 JPY and closed at 144.54 JPY. The initial selling of the dollar was driven by expectations of lower interest rates following Federal Reserve Chairman Powell's confirmation of a rate cut trajectory at the Jackson Hole meeting. However, the dollar rebounded as the July durable goods orders preliminary value and the August Dallas Fed manufacturing activity index exceeded expectations, and concerns about inflation risks reignited due to the high crude oil prices driven by the deterioration of the Middle East situation. The euro/dollar pair fell to 1.1150 USD before rising to 1.1179 USD and closed at 1.1160 USD.

NYMEX crude oil futures for October continued to rise significantly (NYMEX crude oil October futures closing price: 77.42 USD, up 2.59 USD).

Top-performing ADRs (as of the 26th):

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<5020> ENEOS: 11.60 USD, 838 JPY (66.3 JPY), up 8.59%

<2801> Kikkoman: 24 USD, 1735 JPY (66.5 JPY), up 3.99%

hitachi ltd sponsored adr 7.25 dollars 5240 yen (194 yen) +3.84%

japan post 10 dollars 1446 yen (50.5 yen) +3.62%

international petroleum extraction 15.02 dollars 2171 yen (26.5 yen) +1.24%

■ADR下落率下位銘柄（26日）

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

japan post bank 8.3 dollars 1200 yen (-172 yen) -12.54%

dai-ichi life holdings 24.6 dollars 3556 yen (-483 yen) -11.96%

aisin seiki 31.96 dollars 4620 yen (-285 yen) -5.81%

<6146> DISCO $28.8 41,630 yen (-920 yen) -2.16%

<6723> Renesas $8.27 2,391 yen (-47 yen) -1.93%

■ Other ADR stocks (26th)

Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison

<2914> Japan Tobacco Inc $14.31 4,137 yen (-17 yen)

<3382> Seven & I Holdings $14.11 2,040 yen (2 yen)

<4063> Shin-Etsu Chemical Co. $22.21 6,421 yen (-49 yen)

<4502> Takeda Pharmaceuticals $14.82 4,284 yen (-19 yen)

<4519> Chugai Pharmaceutical $24.39 7051 yen (-$48)

<4543> Terumo $18.96 2741 yen (-8.5 yen)

<4568> Daiichi Sankyo $40.31 5827 yen (-$17)

<4661> Orienrand $27.91 4034 yen (0 yen)

<4901> Fujifilm $12.97 3750 yen (-18 yen)

<5108> Bridgestone $19.51 5640 yen (-15 yen)

<6098> Recruit HD $12.06 8716 yen (-32 yen)

<6146> Disco $28.8 41630 yen (-920 yen)

<6178> Japan Post $10.46 (¥1446) (+¥50.5)

<6201> Toyota Industries $77.72 (¥11234) (-¥1)

<6273> SMC $23 (¥66493) (-¥427)

<6301> Komatsu $27.64 (¥3995) (+¥8)

<6367> Daikin Industries $12.64 (¥18271) (-¥179)

<6501> Hitachi $46.95 (¥3393) (-¥41)

<6503> Mitsubishi Electric $31.76 (¥2295) (-¥5.5)

<6594> Nidec $10.39 (¥6007) (-¥25)

<6702> Fujitsu $17.45 ¥2522 (-¥17)

<6723> Renesas $8.27 ¥2391 (-¥47)

<6758> Sony $92.81 ¥13416 (+¥16)

<6857> Advantest $42.3 ¥6114 (-¥108)

<6902> Denso $15.25 ¥2204 (-¥4.5)

<6954> Fanuc $14.57 ¥4212 (-¥15)

<6981> Murata Manufacturing $9.75 ¥2819 (-¥21)

<7182> Yucho Bank $8.3 ¥1200 (-¥172)

<7203> Toyota Motor $180.57 2610 yen (+12.5 yen)

<7267> Honda Motor $32.02 1543 yen (+9 yen)

<7741> HOYA $140.73 20343 yen (-32 yen)

<7751> Canon $34.47 4983 yen (-7 yen)

<7974> Nintendo $14 8095 yen (-16 yen)

<8001> Itochu Corporation $98.71 7134 yen (+2 yen)

<8002> Marubeni Corporation $166.65 2409 yen (-4 yen)

<8031> Mitsui & Co $413.65 2990 yen (+2.5 yen)

<8035> Tokyo Electric $90.06 26,036 yen (-$409)

<8053> Sumitomo Corporation $23.24 3,359 yen (+$9)

<8058> Mitsubishi Corporation $20.57 2,973 yen (+$1)

<8306> Mitsubishi UFJ Financial Group $10.44 1,509 yen (+$10.5)

<8316> Sumitomo Mitsui Financial Group $13.34 9,641 yen (+$74)

<8411> Mizuho Financial Group $4.18 3,021 yen (+$25.5)

<8591> Orix $122.7 3,547 yen (+$9)

<8725> MS&AD Insurance Holdings $22.33 3,228 yen (+$2)

Tokio Marine Holdings, Inc. at $36.77 and ¥5315 (+¥11)

Mitsui Fudosan Co., Ltd. at $32 and ¥1542 (-¥5.5)

NTT at $26.36 and ¥152 (-¥0.2)

KDDI Corporation at $16.60 and ¥4799 (-¥20)

Fast Retailing Co., Ltd. at $31.89 and ¥46097 (-¥263)

SoftBank Group Corp. at $28.95 and ¥8369 (-¥141)