Starting with the Nikkei Average rising by 551 yen, the total stock market value of the Tokyo Stock Exchange returned to the top position in Asia and surpassed the Shanghai Stock Exchange

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FY24 price forecast, downward revision = 2% mid-range axis, reflecting low crude oil prices - Bank of Japan
It became known on the 11th that the Bank of Japan is considering revising the price forecast for 2024 downward. Based on the recent decline in crude oil prices, we will discuss the outlook for the consumer price increase rate (excluding fresh food) from 2.8% compared to the previous fiscal year as of October last year to the middle of the 2% range.

The total stock market value of the Tokyo Stock Exchange returned to the top position in Asia and surpassed the Shanghai Stock Exchange
The total market capitalization (in dollars) of stocks listed on the Tokyo Stock Exchange surpassed the Shanghai Stock Exchange in China on the 11th. It will be the first time in about three and a half years that the Tokyo Stock Exchange has returned to the top position in Asia. While overseas investors expect reforms from Japanese companies, there is a strong sense of alarm about the future of the Chinese economy. The money shift from China to Japan led to a reversal.

The current account surplus of 23/11 was 1,925.6 billion yen, and imports declined due to high resource consumption
According to the 2023/11 balance of payments statistics (preliminary report) announced by the Ministry of Finance on the 12th, the current account balance showing the status of transactions of goods, services, etc. with overseas was a surplus of 1,925.6 billion yen. The surplus continued for 10 consecutive months. Import values declined due to high resource levels, and the trade deficit narrowed.

Bank of Japan, earthquake overshadowed policy revisions, branch manager meetings were not decisive
The Noto Peninsula earthquake that occurred on January 1 cast a shadow over the Bank of Japan's monetary policy. The full extent of the damage has not been clarified, and the impact on the economy remains uncertain. The wage increase status of regional companies was reported at the branch manager meeting on the 11th, but there is a view in the market that “there is no material until the cancellation of negative interest rates can be determined at the January meeting.”

The yen is in the first half of the 145 yen range against the dollar, and the fluctuation in US interest rates due to CPI - also in the 146 yen range overseas
The yen exchange rate of the Tokyo Foreign Exchange Market on the 12th was 1 dollar = the first half of the 145 yen range, and it remained flat from the evening before. Although the consumer price index (CPI) exceeded expectations in the US market, it was a rough development where interest rates rose and then turned down, and the upper value of the dollar was suppressed.

Seven & I - Momiwa 3Q cumulative operating profit increased 4%, and additional acquisitions at convenience stores etc. from SUNOCO for 137.5 billion yen
$Seven & i Holdings(3382.JP)$It's a fight. The company announced on the 11th that consolidated operating profit for the 24.2 fiscal year 3Q (March-November) was 410 billion yen (up 3.8% from the same period last year). The market consensus is 410.2 billion yen.

Fast buy momentum 1Q operating profit increased 27% strong both domestically and overseas
$Fast Retailing(9983.JP)$It's a buying trend. The company announced on the 11th that consolidated net profit for the 24.8 fiscal year 1Q (September-November) was 107.8 billion yen (up 26.7% from the same period last year). The market consensus is 92.87 billion yen.

Renesas acquires US power semiconductors to expand for EVs
$Renesas Electronics(6723.JP)$It was announced on the 11th that it will acquire Transform, a major US power semiconductor company. The acquisition amount was 339 million dollars (approximately 49.2 billion yen). The acquisition will be completed in the latter half of 2024 and it will become a wholly owned subsidiary. Transform handles power semiconductors using next-generation gallium nitride (GaN) materials with high power efficiency.

Mizuho Bank completely abolishes foreign currency exchange shops and makes them cashless
$Mizuho Financial(MFG.US)$It was announced on the 11th that foreign currency exchange shops at Haneda Airport and Narita Airport will be completed sequentially by the end of March. This is because cashless payments are progressing, and demand for exchanging to foreign currency is declining.

Distribution source: Nihon Keizai Shimbun, Traders Web, Bloomberg, Jiji Press
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