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Tokyo stock market started with an increase of 319 yen in the Nikkei average index. Currency intervention is "considerably close", and the rapid depreciation of the yen and the strengthening of the dollar are quite rapid - according to former finance minister Motohiko Katsuzawa.

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moomooニュース日本株 wrote a column · Apr 24, 2024 08:12
Tokyo stock market started with an increase of 319 yen in the Nikkei average index. Currency intervention is "considerably close", and the rapid depreciation of...
Good morning to all moomoo users!This is an overview of the morning market opening. Thank you in advance.

Market Overview
In today's Tokyo stock market, the Nikkei average stock price started at 37,871.92 yen, up 319.76 yen from the previous trading day, and the Tokyo Stock Price Index (TOPIX) started at 2,678.83, up 12.60 points.
Tokyo stock market started with an increase of 319 yen in the Nikkei average index. Currency intervention is "considerably close", and the rapid depreciation of...
Top News
Bank of Japan to hold decision meeting from the 25th, discussing the impact of accelerated depreciation of the yen - Nikkei newspaper
The Bank of Japan will hold a monetary policy decision meeting on the 25th and 26th. Having just lifted the negative interest rate at the March meeting, there are few expectations in the market for an additional rate hike at this meeting. The Bank of Japan will discuss the impact of the yen's depreciation on import prices and other factors contributing to inflation. An area of focus is when the Bank of Japan, having ended its unconventional easing measures, will start reducing the amount of government bond purchases.

Concerns rise in Japan's stock market about disadvantages of chronic weakening yen - impacting domestic demand by increasing costs
As the market continues to hover near a 34-year low, caution is growing in the Japanese stock market over the drawbacks of a chronically weak yen. The weakening yen typically boosts the profits of major manufacturing companies with large market capitalization in industries such as automobiles and electronics, which is commonly seen as beneficial for the Japanese stock market overall.

"Considerably close" to intervention, the yen's depreciation and the strong dollar are rapidly increasing - Former Finance Minister Mizuho Yoshimasa
Mizuho Yoshimasa, former finance minister and current chairman of the International Financial Research Institute at Sumitomo Mitsui Banking Corporation, indicated a perception that with the yen approaching 155 to the dollar, the distance to currency intervention is "considerably close".
Related Articles
The yen is in the high 154 yen range, also rising after hitting a 34-year low, mindful of the key level of -155 yen.

In April, the amount of corporate bonds issued reached a record high, with investment funds flowing into 3-year bonds due to expectations of higher interest rates.
The amount of yen-denominated corporate bonds issued in April set a new record for the month. Investment funds are flocking to bonds with relatively short redemption periods due to expectations of higher interest rates. According to data compiled by Bloomberg, the total yen bond issuance by domestic and foreign companies in April had increased by 55% to 2.2 trillion yen as of the 23rd, compared to the same period of the previous year.

Tokyo Electron Ltd. unsponsored ADR seen with buying interest as long-term US interest rates decline, pushing SOX index 2% higher. Texas Instruments' earnings report also a factor.
$Tokyo Electron (8035.JP)$Showing buying interest. The rise in US tech stocks is among the factors being considered. The previous day's US market saw an increase in all three major indices.
Nexon sees a 3-day streak of gains. CFO mentioned, 'Expect double-digit profit growth in the October to December period,' as they work on game adjustments for usage recovery, according to Nikkei.
$NEXON (3659.JP)$Continues its 3-day winning streak. As reported in the morning edition of the Nikkei on the 24th, Shiro Uemura, CFO of the company, mentioned 'We can return to double-digit profit growth rates in the October to December quarter of 2024.'
Source: Bloomberg, The Nikkei, Tradersweb.
Moomoo news on Japanese stocks from Evelyn
Tokyo stock market started with an increase of 319 yen in the Nikkei average index. Currency intervention is "considerably close", and the rapid depreciation of...
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