The Nikkei Average rebounded slightly in the morning, and the return was slow due to high US stocks

July 23, 2024 12:20 PM GMT+9 (some excerpts)

The Nikkei Average rebounded slightly to 39,676 yen 34 yen in the Tokyo stock market in the morning, which was 77 yen 34 yen higher than the previous business day. In addition to taking over the trend of high US stock prices at the beginning of the week, purchases expecting an autonomous rebound also supported it. The Nikkei Average had fallen by about 1670 yen in the 4 business days up to the day before, and a reaction was expected, but the return was slow due to strong yen etc.
The Nikkei Average was 265 yen higher than the previous business day, and the price was high at 39,927 yen 89 yen, which was 328 yen higher. After a round of buying, there was a scene where the increase was reduced to 39,604 yen 58 yen, which was 5 yen higher. In addition to price movements in the negative zone of the US Stock Futures 3 Index, which is traded overtime, there was a view that the depreciation of the dollar/yen appreciation trend in the exchange rate weighed on stock prices.
In the morning forex market, the dollar fell from the first half of 157 yen early in the morning to the middle of 156 yen. Reports that Secretary General Motegi Toshimitsu of the Liberal Democratic Party stated the day before that “it is necessary to more clearly set out a policy to normalize monetary policy, including considering gradual interest rate increases,” became a clue to the appreciation of the yen.