Tokyo Market Summary: Nikkei Average fell 674 yen, the exchange rate rose to the 145 yen range, and there is observation of a sharp downward revision in US employment. Yen buying and Japanese stock selling are advancing in step.
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The Nikkei average closed at 37,388.62 yen, down 674.05 yen from the previous trading day.
The dollar-yen has dropped to 145.45 yen, with heavy influences such as rumors of a significant downward revision in this week's annual review by the US Department of Labor.
Betting on the Bank of Japan's additional interest rate hike by the end of the year, Vanguard and others are increasing short positions in JGBs.
Seven & I Holdings surged in the afternoon session on reports of a takeover proposal from a major convenience store operator.
Seven & I Holdings to consider a takeover proposal from a Canadian major partner in a special committee meeting.
●Hot Stocks: $Seven & i Holdings (3382.JP)$、 $Pan Pacific International Holdings (7532.JP)$、 $Inpex (1605.JP)$、 $Fanuc (6954.JP)$etc
- Moomoo News Japan Stock Sherry
The Nikkei average closed at 37,388.62 yen, down 674.05 yen from the previous trading day.
The dollar-yen has dropped to 145.45 yen, with heavy influences such as rumors of a significant downward revision in this week's annual review by the US Department of Labor.
Betting on the Bank of Japan's additional interest rate hike by the end of the year, Vanguard and others are increasing short positions in JGBs.
Seven & I Holdings surged in the afternoon session on reports of a takeover proposal from a major convenience store operator.
Seven & I Holdings to consider a takeover proposal from a Canadian major partner in a special committee meeting.
●Hot Stocks: $Seven & i Holdings (3382.JP)$、 $Pan Pacific International Holdings (7532.JP)$、 $Inpex (1605.JP)$、 $Fanuc (6954.JP)$etc
- Moomoo News Japan Stock Sherry
Market Overview
On today's Tokyo stock market, the Nikkei Stock Average closed at 37,388.62 yen, down 674.05 yen from the previous trading day, and the Tokyo Stock Price Index (TOPIX) closed at 2,641.14, down 37.46 points.
On today's Tokyo stock market, the Nikkei Stock Average closed at 37,388.62 yen, down 674.05 yen from the previous trading day, and the Tokyo Stock Price Index (TOPIX) closed at 2,641.14, down 37.46 points.
Top News
The dollar fell to 145.45 yen, rumors of a significant downward revision in the annual revision of the U.S. Department of Labor this week acted as a heavy weight in the Tokyo foreign exchange market.
In the afternoon, as the Nikkei Average fell further, the yen strengthened. The dollar-yen reached 145.45 yen. In the annual revision (preliminary) of the U.S. Department of Labor scheduled for this week, the number of employees in fiscal year 2023 (until March 2024) isIt will be a downward revision of 1 million people.Rumors of this have led to selling the dollar.
Related articles
The yen exchange rate has risen to the 145 yen range, as there are expectations of a significant downward revision in US employment.
The dollar fell to 145.45 yen, rumors of a significant downward revision in the annual revision of the U.S. Department of Labor this week acted as a heavy weight in the Tokyo foreign exchange market.
In the afternoon, as the Nikkei Average fell further, the yen strengthened. The dollar-yen reached 145.45 yen. In the annual revision (preliminary) of the U.S. Department of Labor scheduled for this week, the number of employees in fiscal year 2023 (until March 2024) isIt will be a downward revision of 1 million people.Rumors of this have led to selling the dollar.
Related articles
The yen exchange rate has risen to the 145 yen range, as there are expectations of a significant downward revision in US employment.
Betting on additional rate hikes by the Bank of Japan within the year, institutions like Vanguard are increasing their short positions in JGBs.
Following the recent pullback in risk investments, market expectations regarding the possibility of further tightening by the Bank of Japan have quickly receded. However, a few prominent investment firms continue to bet in the direction of additional rate hikes by the Bank of Japan within a few months. The second largest asset management company, Vanguard Group, assumes there is a chance that the Bank of Japan may decide on an additional rate hike of 50 basis points by December, and has doubled down on short positions in Japanese government bonds.
Hot stocks
Seven & i Holdings surged in the afternoon session following reports of a buyout proposal from a major convenience store chain.
$Seven & i Holdings (3382.JP)$Entering the afternoon session, the stock hit the daily limit up. According to the Nikkei electronic edition on this day after 1:00 p.m., "Seven & i Holdings has received a takeover proposal from the Canadian convenience store giant Alimentation Couche-Tard, it was reported on the 19th." Seven & i has set up an independent committee composed of outside directors to start scrutinizing the proposal details including the evaluation amount. Buying interest has been gathering in response to this report.
Related articles
Seven & i receives takeover proposal from Canadian major company, under consideration by special committee
Following the recent pullback in risk investments, market expectations regarding the possibility of further tightening by the Bank of Japan have quickly receded. However, a few prominent investment firms continue to bet in the direction of additional rate hikes by the Bank of Japan within a few months. The second largest asset management company, Vanguard Group, assumes there is a chance that the Bank of Japan may decide on an additional rate hike of 50 basis points by December, and has doubled down on short positions in Japanese government bonds.
Hot stocks
Seven & i Holdings surged in the afternoon session following reports of a buyout proposal from a major convenience store chain.
$Seven & i Holdings (3382.JP)$Entering the afternoon session, the stock hit the daily limit up. According to the Nikkei electronic edition on this day after 1:00 p.m., "Seven & i Holdings has received a takeover proposal from the Canadian convenience store giant Alimentation Couche-Tard, it was reported on the 19th." Seven & i has set up an independent committee composed of outside directors to start scrutinizing the proposal details including the evaluation amount. Buying interest has been gathering in response to this report.
Related articles
Seven & i receives takeover proposal from Canadian major company, under consideration by special committee
Panpacific Holdings plunges, expects net loss for the current fiscal year
$Pan Pacific International Holdings (7532.JP)$Ending a 3-day decline. At one point, it hit a low of 3400 yen, down 8.65%. After the trading close on the 16th last week, Panpacific Holdings announced its consolidated performance forecast for the fiscal year ending June 2025, with a 6.0% increase in revenue compared to the previous year to 22.2 trillion yen, and a 2.5% decrease in net profit to 865 billion yen. It indicates a reversal from the record high profit in the previous period to an expected decrease in profit, leading to prevailing selling pressure.
$Pan Pacific International Holdings (7532.JP)$Ending a 3-day decline. At one point, it hit a low of 3400 yen, down 8.65%. After the trading close on the 16th last week, Panpacific Holdings announced its consolidated performance forecast for the fiscal year ending June 2025, with a 6.0% increase in revenue compared to the previous year to 22.2 trillion yen, and a 2.5% decrease in net profit to 865 billion yen. It indicates a reversal from the record high profit in the previous period to an expected decrease in profit, leading to prevailing selling pressure.
Fanuc stock price falls, selling pressure due to slow recovery in machinery orders
$Fanuc (6954.JP)$Fell and temporarily dropped to 4065 yen, down 3.51%. According to the machinery order statistics for the April-June quarter announced by the Cabinet Office on the morning of the 19th, private demand (excluding ships and electrical utilities, seasonally adjusted), considered an advance indicator of capital investment, decreased by 0.1% compared to the previous period, amounting to 2 trillion 620.2 billion yen. Order volume for the July-September period is forecasted to increase by 0.2% from the previous period, but due to the perception of a slow recovery, there is prevailing selling pressure on machinery investment-related stocks. $YASKAWA Electric (6506.JP)$Koss Corp is also cheap.
$Fanuc (6954.JP)$Fell and temporarily dropped to 4065 yen, down 3.51%. According to the machinery order statistics for the April-June quarter announced by the Cabinet Office on the morning of the 19th, private demand (excluding ships and electrical utilities, seasonally adjusted), considered an advance indicator of capital investment, decreased by 0.1% compared to the previous period, amounting to 2 trillion 620.2 billion yen. Order volume for the July-September period is forecasted to increase by 0.2% from the previous period, but due to the perception of a slow recovery, there is prevailing selling pressure on machinery investment-related stocks. $YASKAWA Electric (6506.JP)$Koss Corp is also cheap.
INPEX shares fell for the first time in 7 days, with profit-taking sales due to the decline in crude oil prices.
$Inpex (1605.JP)$Fell for the first time in 7 trading days, temporarily dropping to 2.60% to 2183 yen. Crude oil futures prices fell at the New York Mercantile Exchange last week on the 16th. Expectations of easing tensions in the Middle East due to progress in negotiations for a ceasefire between Israel and the Islamic organization Hamas lead to profit-taking sell-offs in INPEX, which had been bought in anticipation of rising crude oil prices. $Japan Petroleum Exploration (1662.JP)$Koss Corp is also cheap.
$Inpex (1605.JP)$Fell for the first time in 7 trading days, temporarily dropping to 2.60% to 2183 yen. Crude oil futures prices fell at the New York Mercantile Exchange last week on the 16th. Expectations of easing tensions in the Middle East due to progress in negotiations for a ceasefire between Israel and the Islamic organization Hamas lead to profit-taking sell-offs in INPEX, which had been bought in anticipation of rising crude oil prices. $Japan Petroleum Exploration (1662.JP)$Koss Corp is also cheap.
Marine shipping stocks such as Nippon Yusen are strong, buoyed by the rise in the Shanghai Export Container Freight Index.
$Nippon Yusen Kabushiki Kaisha (9101.JP)$or $Mitsui O.S.K. Lines (9104.JP)$Marine shipping stocks are performing well. The Shanghai Export Container Freight Index (SCFI), considered an indicator of the container shipping market conditions, rose to 3281.36 on August 16, an increase of 27.47 from the previous week. The recent rebound from the decline has raised expectations for improved performance in marine shipping stocks, driven by the increase in container shipping market conditions.
$Nippon Yusen Kabushiki Kaisha (9101.JP)$or $Mitsui O.S.K. Lines (9104.JP)$Marine shipping stocks are performing well. The Shanghai Export Container Freight Index (SCFI), considered an indicator of the container shipping market conditions, rose to 3281.36 on August 16, an increase of 27.47 from the previous week. The recent rebound from the decline has raised expectations for improved performance in marine shipping stocks, driven by the increase in container shipping market conditions.
Source: MINKABU, Bloomberg, The Nikkei, Jiji Press
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