The Nikkei Average starts at 511 yen higher, breaking through 0.04 million2000 yen for the first time in history, and continues its strong trend with the tailwind of the rise in US stocks.

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BOJ reduces government bond purchases, seeks opinions from institutional investors - 2nd day of the Practical Meeting
The Bank of Japan held a meeting with institutional investors, including life insurance companies, in the bond market on the 10th. It was revealed through interviews with stakeholders that various opinions were expressed at the meeting, including opposition to excessive reduction of BOJ's government bond purchases.

TOPIX surpasses all-time high = Tokyo stock market
In the morning of the Tokyo stock market on the 11th, the Tokyo Stock Price Index (TOPIX) surpassed yesterday's all-time high (2,909.58) during trading hours.

GPFI, the savior of the government bond market relying on the Bank of Japan, is experiencing a sharp increase in its holdings.
As the Bank of Japan considers reducing its government bond purchases, the Government Pension Investment Fund (GPIF), which manages public pensions, is emerging as a significant buyer of government bonds.

The yen is in the 161 yen range, with selling pressure due to expectations of a rate cut in the US and risk appetite. The flow of risk appetite is leading to strong demand for the low-interest yen as investors sell and buy dollars in anticipation of a rate cut this year following Federal Reserve Chairman Powell's testimony to Congress. On the other hand, there is a heightened sense of intervention caution as the yen approaches its lowest level in about 38 years, and there is also a growing atmosphere of waiting to see the US Consumer Price Index (CPI) to be announced tonight, which is likely to provide support for the yen.
In the morning of the 11th, the foreign exchange rate for the yen in the Tokyo foreign exchange market fell from the previous evening to the 161 yen range per dollar. Expectations of a rate cut during the year based on Federal Reserve Chairman Powell's congressional testimony in the US are maintaining the risk appetite, leading to strong demand for buying dollars and selling yen, which has low interest rates. On the other hand, there is an increased sense of caution about intervention as the yen is at its lowest level in about 38 years, and there is a growing atmosphere of waiting to assess the US Consumer Price Index (CPI) to be announced at night, which is likely to provide support for the yen.

Toshiba Electronic rises for the third consecutive day, breaking out of the box range and contributing to the rise in the Nikkei average following the high performance of US semiconductor stocks. The Nikkei average has recovered to the 38,000 yen range for the first time since April 17th and has broken through the congested phase upwards, quickly gaining momentum in the recovery. In the US stock market the previous day, it was in line with the Nasdaq Composite Index and the S&P 500 Index, and the Philadelphia Semiconductor Stock Index (SOX Index), which is composed of semiconductor stocks, also reached a record high, surging significantly.
$Tokyo Electron (8035.JP)$Moomoo has recovered to the 38,000 yen range for the first time since April 17th, rising for the third consecutive day, breaking out of the box range and quickly gaining momentum in the recovery. In line with the Nasdaq Composite Index and the S&P 500 Index in the US stock market the previous day, the Philadelphia Semiconductor Stock Index (SOX Index), which is composed of semiconductor stocks, also reached a record high with a significant increase.