Tokyo Market Summary: Nikkei continues to rise. If the core consumer price index rises to 2%, there will be a rate hike, aiming to achieve the target in the fiscal year 2025, according to the Bank of Japan Governor.
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Good evening at the close. The summary of today's stock market is as follows. Thank you.![]()
The Nikkei average closed at 37,552.16 yen, up 113.55 yen from the previous trading day.
If the core price index rises to 2%, the BOJ will raise interest rates and aim to achieve the target in fiscal year 2025.
PIMCO: BOJ is assuming two interest rate hikes by the end of the year, reducing government bond purchases from around summer.
It could be considered that conditions are in place for currency intervention - Minister of Finance Suzuki responds to questions about currency intervention.
Mitsui & Co. to participate in LNG production in the UAE with a total project cost of 1 trillion yen.
Worldwide electric vehicle sales to account for over 50% of new cars by 2035, according to IEA forecasts.
●Hot Stocks: $Dai-ichi Life Holdings (8750.JP)$、 $Mitsui (8031.JP)$
- Moomoo News Japan Stock Sherry
The Nikkei average closed at 37,552.16 yen, up 113.55 yen from the previous trading day.
If the core price index rises to 2%, the BOJ will raise interest rates and aim to achieve the target in fiscal year 2025.
PIMCO: BOJ is assuming two interest rate hikes by the end of the year, reducing government bond purchases from around summer.
It could be considered that conditions are in place for currency intervention - Minister of Finance Suzuki responds to questions about currency intervention.
Mitsui & Co. to participate in LNG production in the UAE with a total project cost of 1 trillion yen.
Worldwide electric vehicle sales to account for over 50% of new cars by 2035, according to IEA forecasts.
●Hot Stocks: $Dai-ichi Life Holdings (8750.JP)$、 $Mitsui (8031.JP)$
- Moomoo News Japan Stock Sherry
Market Overview
The Nikkei Stock Average closed at 37,552.16 yen, up 113.55 yen from the previous trading day, and the Tokyo Stock Price Index (TOPIX) closed at 2,666.23, up 3.77 points.
The Nikkei Stock Average closed at 37,552.16 yen, up 113.55 yen from the previous trading day, and the Tokyo Stock Price Index (TOPIX) closed at 2,666.23, up 3.77 points.
Top news of individual stocks
BOJ Governor: If the underlying inflation rate rises to 2% rate, rate hike possible by 2025
BOJ Governor Ueda reiterated on the 23rd that if the underlying inflation rate, which the BOJ focuses on, continues to rise as expected, the central bank will adjust the degree of monetary easing through an increase in short-term interest rates. The governor explained that the current underlying inflation rate is below the BOJ's target of 2% and that if it rises in line with the BOJ's outlook, the bank will "adjust the degree of monetary easing," which would involve raising short-term interest rates.
BOJ Governor: If the underlying inflation rate rises to 2% rate, rate hike possible by 2025
BOJ Governor Ueda reiterated on the 23rd that if the underlying inflation rate, which the BOJ focuses on, continues to rise as expected, the central bank will adjust the degree of monetary easing through an increase in short-term interest rates. The governor explained that the current underlying inflation rate is below the BOJ's target of 2% and that if it rises in line with the BOJ's outlook, the bank will "adjust the degree of monetary easing," which would involve raising short-term interest rates.
PIMCO: BOJ expected to raise interest rates twice this year, decrease JGB purchases from summer
Pacific Investment Management Company (PIMCO), with total assets of 186 trillion dollars (about 288 trillion yen), expects the Bank of Japan to raise interest rates twice in 2024 as the base scenario for its monetary policy outlook.
Pacific Investment Management Company (PIMCO), with total assets of 186 trillion dollars (about 288 trillion yen), expects the Bank of Japan to raise interest rates twice in 2024 as the base scenario for its monetary policy outlook.
It's acceptable to see that the circumstances are in place - questions about currency intervention for Minister of Finance Suzuki
Finance Minister Toshikazu Suzuki, at the morning session of the House of Councillors Budget and Finance Committee on the 23rd, indicated a recognition that the circumstances are in place for intervention in response to the depreciation of the yen. In the midst of the negative impact of the dollar's solo rally on various national economies, he responded to a question from the Constitutional Democratic Party's Kenji Katsube, suggesting an implicit understanding that allows for currency intervention.
Finance Minister Toshikazu Suzuki, at the morning session of the House of Councillors Budget and Finance Committee on the 23rd, indicated a recognition that the circumstances are in place for intervention in response to the depreciation of the yen. In the midst of the negative impact of the dollar's solo rally on various national economies, he responded to a question from the Constitutional Democratic Party's Kenji Katsube, suggesting an implicit understanding that allows for currency intervention.
Global electric car sales, more than 50% of new cars by 2035 - IEA forecast
On the 23rd, the International Energy Agency (IEA) released a report on the latest market trends for electric vehicles (EVs). They predicted that by 2035, EVs would account for more than 50% of global new car sales. The expansion of the EV market is driven by low-cost cars from Chinese manufacturers. Conditions for this expansion include the reduction of car battery prices and the development of charging infrastructure.
On the 23rd, the International Energy Agency (IEA) released a report on the latest market trends for electric vehicles (EVs). They predicted that by 2035, EVs would account for more than 50% of global new car sales. The expansion of the EV market is driven by low-cost cars from Chinese manufacturers. Conditions for this expansion include the reduction of car battery prices and the development of charging infrastructure.
Hot stocks
Dai-ichi Life Insurance: Over 2% for 30 years, "attractive" - Plans to increase long-term bond accumulation in fiscal year 2024
$Dai-ichi Life Holdings (8750.JP)$It is the policy to continue increasing long-term bonds in fiscal year 2024, following the previous year. Kohei Horikawa, head of the investment planning department, stated at a press conference on the 23rd that if the 30-year bond yield exceeds 2%, they will increase their buying.
Dai-ichi Life Insurance: Over 2% for 30 years, "attractive" - Plans to increase long-term bond accumulation in fiscal year 2024
$Dai-ichi Life Holdings (8750.JP)$It is the policy to continue increasing long-term bonds in fiscal year 2024, following the previous year. Kohei Horikawa, head of the investment planning department, stated at a press conference on the 23rd that if the 30-year bond yield exceeds 2%, they will increase their buying.
Mitsui & Co. to participate in LNG production in the UAE - Total project cost on a scale of 1 trillion yen
$Mitsui (8031.JP)$It was revealed on the 23rd that Moomoo will participate in the liquefied natural gas (LNG) business in the United Arab Emirates (UAE). The total project cost is 7 billion dollars (over 1 trillion yen), and it will produce approximately 10 million tons per year, which is about 15% of Japan's annual demand, in collaboration with Abu Dhabi National Oil Company (ADNOC) and others. This will reduce the world's energy dependency on Russia amid the prolonged conflict in Ukraine.
$Mitsui (8031.JP)$It was revealed on the 23rd that Moomoo will participate in the liquefied natural gas (LNG) business in the United Arab Emirates (UAE). The total project cost is 7 billion dollars (over 1 trillion yen), and it will produce approximately 10 million tons per year, which is about 15% of Japan's annual demand, in collaboration with Abu Dhabi National Oil Company (ADNOC) and others. This will reduce the world's energy dependency on Russia amid the prolonged conflict in Ukraine.
Source: Bloomberg, Nihon Keizai Shimbun
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