Nikkei starts 89 yen higher. Former Governor of the Bank of Japan, Haruhiko Kuroda, referred to the current depreciation of the yen as "excessive" during a speech in New York.
Good morning to all moomoo users!![]()
Here is the overview of this morning's market opening. Thank you.![]()
Market Overview
In the Tokyo stock market today, the Nikkei Stock Average started at 39,892.59 yen, up 89.50 yen from the previous trading day, and the TOPIX started at 2,726.61, up 5.39 points.
Market Overview
In the Tokyo stock market today, the Nikkei Stock Average started at 39,892.59 yen, up 89.50 yen from the previous trading day, and the TOPIX started at 2,726.61, up 5.39 points.
Top News
Former BOJ Governor Kuroda describes current weak yen as "excessive" in NY speech.
Former BOJ Governor Haruhiko Kuroda spoke at Columbia University in the US on the 1st. He commented that the BOJ's decision to lift the negative interest rate policy at the March monetary policy meeting was a first step towards normalization. He also noted that the current weakening of the yen is excessive.
Targeting a yen appreciation of around 5 yen, strategists analyze the effects of yen buying intervention.
If Japan's monetary authorities intervene to buy yen, strategists expect to aim for a yen increase of around 5 yen, as in 2022. Amid the depreciation of the yen, government officials are strengthening their measures against speculative movements. The yen has already fallen below the level seen in 2022 when the authorities intervened to buy yen for the first time in about 24 years against the dollar, reaching its lowest level in about 34 years last week.
Fujitsu and Suzuki... Stock splits increase by 6 times, supporting the rise in Japanese stocks.
The stock splits of listed companies are supporting the rise in stock prices. The number of companies announcing stock splits for the fiscal year 2023 has increased by 60% compared to the previous year to 191 companies, and stock trading has become active after the split. Through reducing the amount needed for investment, individual money from younger generations is flowing in via the new small amount investment tax-exempt system (NISA).
Domestic borrowing interest rates rise for the first time in 15 years due to the backlash from zero-zero lending.
With the Bank of Japan's negative interest rate cancellation, there is likely to be increasing pressure on raising interest rates in corporate funding. The average borrowing rate for companies in the fiscal year 2022 rose for the first time in 15 years by compared to the previous year to 0.98%. The repayment of the real interest-free and unsecured loans (zero-zero loans) that have been pushing down borrowing rates is the background.
Minister of Economy Saito to Provide Up to 590 billion Yen Support for Next-Generation Semiconductor Rapidus - Totaling 1 trillion Yen.
Minister of Economy Ken Saito revealed the plan to provide additional support of up to 590 billion yen to Rapidus, aiming for mass production of next-generation semiconductors, during the press conference after the cabinet meeting on the 2nd. If this support is approved, it will total nearly 1 trillion yen to the company.
Nippon Steel - Rebounds, Proceeds with Acquisition of U.S. Steel without Layoffs - Officially Promised to the Labor Union in Writing.
$Nippon Steel (5401.JP)$Vroom rebounded. Bloomberg reported on the 2nd that the company planning to acquire U.S. Steel has submitted formal commitments regarding expenses and employment to the United Steelworkers (USW).
Former BOJ Governor Kuroda describes current weak yen as "excessive" in NY speech.
Former BOJ Governor Haruhiko Kuroda spoke at Columbia University in the US on the 1st. He commented that the BOJ's decision to lift the negative interest rate policy at the March monetary policy meeting was a first step towards normalization. He also noted that the current weakening of the yen is excessive.
Targeting a yen appreciation of around 5 yen, strategists analyze the effects of yen buying intervention.
If Japan's monetary authorities intervene to buy yen, strategists expect to aim for a yen increase of around 5 yen, as in 2022. Amid the depreciation of the yen, government officials are strengthening their measures against speculative movements. The yen has already fallen below the level seen in 2022 when the authorities intervened to buy yen for the first time in about 24 years against the dollar, reaching its lowest level in about 34 years last week.
Fujitsu and Suzuki... Stock splits increase by 6 times, supporting the rise in Japanese stocks.
The stock splits of listed companies are supporting the rise in stock prices. The number of companies announcing stock splits for the fiscal year 2023 has increased by 60% compared to the previous year to 191 companies, and stock trading has become active after the split. Through reducing the amount needed for investment, individual money from younger generations is flowing in via the new small amount investment tax-exempt system (NISA).
Domestic borrowing interest rates rise for the first time in 15 years due to the backlash from zero-zero lending.
With the Bank of Japan's negative interest rate cancellation, there is likely to be increasing pressure on raising interest rates in corporate funding. The average borrowing rate for companies in the fiscal year 2022 rose for the first time in 15 years by compared to the previous year to 0.98%. The repayment of the real interest-free and unsecured loans (zero-zero loans) that have been pushing down borrowing rates is the background.
Minister of Economy Saito to Provide Up to 590 billion Yen Support for Next-Generation Semiconductor Rapidus - Totaling 1 trillion Yen.
Minister of Economy Ken Saito revealed the plan to provide additional support of up to 590 billion yen to Rapidus, aiming for mass production of next-generation semiconductors, during the press conference after the cabinet meeting on the 2nd. If this support is approved, it will total nearly 1 trillion yen to the company.
Nippon Steel - Rebounds, Proceeds with Acquisition of U.S. Steel without Layoffs - Officially Promised to the Labor Union in Writing.
$Nippon Steel (5401.JP)$Vroom rebounded. Bloomberg reported on the 2nd that the company planning to acquire U.S. Steel has submitted formal commitments regarding expenses and employment to the United Steelworkers (USW).
Rakuten Group - Fell, planning to issue USD high-yield corporate bonds again worth 1.25 billion dollars.
$Rakuten Group (4755.JP)$Iron & Steel declined. Bloomberg reported on the 2nd that the company is once again moving towards issuing dollar-denominated high-yield corporate bonds, issuing approximately 1.25 billion dollars (about 189.5 billion yen) in equivalent 5-year bonds.
$Rakuten Group (4755.JP)$Iron & Steel declined. Bloomberg reported on the 2nd that the company is once again moving towards issuing dollar-denominated high-yield corporate bonds, issuing approximately 1.25 billion dollars (about 189.5 billion yen) in equivalent 5-year bonds.
Mitsubishi UFJ - Rebounded, aiming for around 9% ROE in the new midterm plan.
$Mitsubishi UFJ Financial Group (8306.JP)$Rebounded. The company announced on the 1st that it has formulated a medium-term management plan covering the 25.3rd to 27.3rd fiscal years. The financial target for the final year aims for a ROE (Return on Equity) of around 9%.
$Mitsubishi UFJ Financial Group (8306.JP)$Rebounded. The company announced on the 1st that it has formulated a medium-term management plan covering the 25.3rd to 27.3rd fiscal years. The financial target for the final year aims for a ROE (Return on Equity) of around 9%.
Mitsui O.S.K. Lines ties bonuses to ROE, exceeding 5 million yen annually at 10%.
$Mitsui O.S.K. Lines (9104.JP)$Introduced a mechanism to link employee bonuses to Return on Equity (ROE) at Mitsui O.S.K. Lines. Shifting from labor-management negotiations based on ordinary profits to ROE linkage is intended to give employees a shareholder perspective and make it easier to understand.
$Mitsui O.S.K. Lines (9104.JP)$Introduced a mechanism to link employee bonuses to Return on Equity (ROE) at Mitsui O.S.K. Lines. Shifting from labor-management negotiations based on ordinary profits to ROE linkage is intended to give employees a shareholder perspective and make it easier to understand.
Source: Bloomberg, The Nikkei, Tradersweb.
- Moomoo News Japanese Stocks Evelyn
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
