Tokyo Market Summary: Nikkei Average Continues to Fall, Bank of Japan Additional Mitigation Revision Postponed

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●The Nikkei Stock Average ended at 32402.41 yen, 168.62 yen lower than the previous business day
● Bank of Japan postpones additional mitigation revisions and decides to maintain the current state of monetary policy and advances yen depreciation
● Respond appropriately to excessive fluctuations in exchange rates without eliminating all options - Finance Minister Suzuki
● Service prices rise 2.0% for 2 consecutive months for the first time in 30 years
● Notable stocks: $Sumitomo Mitsui Financial Group(8316.JP)$、 $Mitsubishi UFJ Financial Group(8306.JP)$、 $Mitsui Fudosan(8801.JP)$etc
-MooMoo News Japan Stock Zeber

Market Overview
In today's Tokyo stock market, the Nikkei Stock Average ended at 32402.41 yen, down 168.62 yen from the previous business day, and the TSE stock price index (TOPIX) fell 7.14 points to 2376.27.

Top news
Update - [Breaking News] Bank of Japan postpones additional mitigation revisions and decides to maintain current monetary policy and depreciates yen
The Bank of Japan decided to maintain the current state of monetary mitigation measures at the monetary policy meeting held on the 22nd. Everyone unanimously decided to maintain the current large-scale monetary easing policy centered on yield curve control (YCC) policies that manipulate long and short interest rates.

Respond appropriately to excessive fluctuations in exchange rates without eliminating all options - Finance Minister Suzuki
At the post-cabinet meeting conference on the 22nd, Minister of Finance Suzuki Shunichi stated that he was “closely watching with a high sense of tension” the current exchange rate trend, and then stated, “I would like to take an appropriate response to excessive fluctuations in market prices without eliminating all options.”

Service prices rise 2.0% for 2 consecutive months for the first time in 30 years
The rise in service prices has become apparent. As for the consumer price index for August, the composite index excluding fresh food rose 3.1% compared to the same month last year. Services have exceeded 2% for 2 consecutive months for the first time in about 30 years due to normalization and labor shortages from the novel coronavirus disaster. Whether a virtuous cycle with wage increases will be created will influence prices and the Japanese economy.

Notable stocks
Sumitomo Mitsui FG temporarily turned positive in the back field, and there is a sense that maintaining the current policy status of the Bank of Japan is also out of control
$Sumitomo Mitsui Financial Group(8316.JP)$Megabanks, etc., temporarily turned positive in the back market. The Bank of Japan decided to maintain the current state of monetary policy on this day. Although the results were as anticipated by many market participants, there was also a smoldering sense of caution about surprise policy revisions. A sense of loss of interest spread with respect to financial stocks, and it looked like they were gathering buys with expectations of interest improvement. $Tokio Marine Holdings(8766.JP)$ Insurance stocks, etc., will also remain solid.

Mitsubishi UFJ --- feuds, decisions to maintain the status of monetary policy are also expected
$Mitsubishi UFJ Financial Group(8306.JP)$It's a clash. At the Bank of Japan monetary policy meeting, it was decided to maintain the current state of monetary mitigation measures. Expectations for the early cancellation of the negative interest rate policy were also growing in response to some Bank of Japan governor interview reports on 9/9, so there were scenes where the negative range widened immediately after the results were announced. However, it seems that there was a strong view that the status quo would be maintained at this meeting, and there was also a buyback thereafter. The focus seems to be on the president's press conference after closing.

Mitsui Fudosan - Post-Market Increase Range Expands Bank of Japan Monetary Policy Meeting Maintains Status and Buys Real Estate Stocks
$Mitsui Fudosan(8801.JP)$The rear field increase range has been expanded. The Bank of Japan announced the results of the monetary policy meeting on the 22nd and decided to maintain the current state of monetary mitigation measures. In advance observation reports, there was awareness of the possibility that some kind of policy aimed at normalizing monetary policy would be shown, assuming that negative interest rates would be lifted by the end of the year in part. Real estate stocks such as the company are being bought from the view that the rise in long-term interest rates will calm down in response to the results of maintaining the status quo.

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