Nikkei starts 40 yen higher, if the trend of yen depreciation continues to lead to an upward revision in core consumer prices, there is a possibility of a faster normalization pace - BOJ opinions.
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Market Overview
Today, the Nikkei Stock Average on the Tokyo Stock Exchange started at 38,242.92 yen, up 40.55 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) started at 2716.77, up 10.34 points.
Today, the Nikkei Stock Average on the Tokyo Stock Exchange started at 38,242.92 yen, up 40.55 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) started at 2716.77, up 10.34 points.
Top News
If the yen continues to weaken and the baseline prices keep rising, there is a possibility that the normalization pace will accelerate - according to the Bank of Japan's view.
At the monetary policy meeting held by the Bank of Japan on April 25-26, if the baseline inflation rate continues to rise against the backdrop of a weak yen, there is a view among policy board members that there is a sufficient possibility of speeding up normalization pace. The 'major opinions' were disclosed on the 9th day.
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Bank of Japan Meeting Major Opinions (April 25-26) Could lead to a rise in the baseline inflation rate against a weak yen.
If the yen continues to weaken and the baseline prices keep rising, there is a possibility that the normalization pace will accelerate - according to the Bank of Japan's view.
At the monetary policy meeting held by the Bank of Japan on April 25-26, if the baseline inflation rate continues to rise against the backdrop of a weak yen, there is a view among policy board members that there is a sufficient possibility of speeding up normalization pace. The 'major opinions' were disclosed on the 9th day.
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Bank of Japan Meeting Major Opinions (April 25-26) Could lead to a rise in the baseline inflation rate against a weak yen.
Exchange Interventions 'Ready to act at any time', responds to the current weak yen - Finance Minister Kanda
Finance Minister Kanda Makoto stated this morning that in response to the current depreciation of the yen, he is prepared to intervene in the exchange rate 'whenever necessary' and warned the market. He made the remarks to the press within the ministry. He also mentioned, 'There is no fact that government officials have discussed anything about exchange rate intervention.'
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Government officials intervened in the exchange rate on April 29 and May 2, as reported by TV Tokyo.
The yen fell to the mid-155 yen level, and the Bank of Japan's efforts to suppress the yen depreciation have not been effective due to the weight of rising US interest rates.
Finance Minister Kanda Makoto stated this morning that in response to the current depreciation of the yen, he is prepared to intervene in the exchange rate 'whenever necessary' and warned the market. He made the remarks to the press within the ministry. He also mentioned, 'There is no fact that government officials have discussed anything about exchange rate intervention.'
Related Articles
Government officials intervened in the exchange rate on April 29 and May 2, as reported by TV Tokyo.
The yen fell to the mid-155 yen level, and the Bank of Japan's efforts to suppress the yen depreciation have not been effective due to the weight of rising US interest rates.
Real wages decreased by 2.5% in March, marking the 24th consecutive month of decline, the longest on record.
According to the preliminary results of the monthly labor statistics survey for March released by the Ministry of Health, Labor and Welfare on the 9th (for establishments with 5 or more employees), the real wage per person decreased by 2.5% compared to the same month last year, taking into account price fluctuations. The decline marked the longest consecutive decline in 24 months. While total wages continue to increase, the situation of not keeping up with high prices persists.
According to the preliminary results of the monthly labor statistics survey for March released by the Ministry of Health, Labor and Welfare on the 9th (for establishments with 5 or more employees), the real wage per person decreased by 2.5% compared to the same month last year, taking into account price fluctuations. The decline marked the longest consecutive decline in 24 months. While total wages continue to increase, the situation of not keeping up with high prices persists.
BOJ Governor Ueda mentioned, 'An early adjustment of interest rates as well' in the case of overshooting price increases.
Bank of Japan Governor Ueda Kazuo stated on the 8th that if there is a risk of overshooting price forecasts or if prices indeed overshoot, it would be appropriate to 'adjust interest rates earlier.'
Bank of Japan Governor Ueda Kazuo stated on the 8th that if there is a risk of overshooting price forecasts or if prices indeed overshoot, it would be appropriate to 'adjust interest rates earlier.'
SoftBank Group continues to decline as its subsidiary British Arm sharply drops in after-hours trading, falling below market expectations for the current fiscal forecast.
$SoftBank Group (9984.JP)$Continues to decline. The stock price of its subsidiary British Arm Holdings sharply fell in extended trading on the 8th, which is the reason.
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British Arm falls 7% in after-hours trading following earnings release, with full-year revenue forecast falling below expectations.
$SoftBank Group (9984.JP)$Continues to decline. The stock price of its subsidiary British Arm Holdings sharply fell in extended trading on the 8th, which is the reason.
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British Arm falls 7% in after-hours trading following earnings release, with full-year revenue forecast falling below expectations.
IHI shows buying interest as it expects to achieve a final profit of 60 billion yen this fiscal year, compared to a loss of 68.2 billion yen in the previous period.
$IHI (7013.JP)$Shows buying interest. On the 8th, the company announced its consolidated net profit forecast under IFRS for the 25.3rd fiscal year to be a profit of 60 billion yen, with an annual dividend forecast of 100 yen (the previous year was 100 yen). Market consensus is a profit of 99.9 billion yen.
$IHI (7013.JP)$Shows buying interest. On the 8th, the company announced its consolidated net profit forecast under IFRS for the 25.3rd fiscal year to be a profit of 60 billion yen, with an annual dividend forecast of 100 yen (the previous year was 100 yen). Market consensus is a profit of 99.9 billion yen.
Judgment orders Mitsubishi to pay 1.01 billion dollars in damages in a US product liability lawsuit against Mitsubishi Motors.
$Mitsubishi Motors (7211.JP)$Announced on the 9th that a judgment was issued at the US state of Pennsylvania's Philadelphia General Civil Court in a product liability lawsuit, ordering its subsidiary Mitsubishi Motors North America (MMNA) to pay approximately 10 million dollars (about 157 billion yen) by the 6th local time in the USA.
$Mitsubishi Motors (7211.JP)$Announced on the 9th that a judgment was issued at the US state of Pennsylvania's Philadelphia General Civil Court in a product liability lawsuit, ordering its subsidiary Mitsubishi Motors North America (MMNA) to pay approximately 10 million dollars (about 157 billion yen) by the 6th local time in the USA.
Source: Bloomberg, Nihon Keizai Shimbun, Traders Web, MINKABU
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