Tokyo Market Summary: Nikkei Average continues to fall for 3 days “Maintaining preparations for economic and price downturns, YCC correction is not an exit,” said Adachi Bank of Japan committee

Hello Moomoo users!Thank you very much for your hard work. Today's stock price summary is as follows. Thank you in advance.
● The Nikkei Average ended at 33321.22 yen, 87.17 yen lower than the previous business day
● A phase change where the appreciation of the yen accelerates, and observations of a temporary drop in the US interest rate in the 146 yen range are imminent
● Maintaining preparations for economic and price downturns, YCC revisions are not an exit - Bank of Japan Committee Member Adachi
●Real growth rate for FY23 is 1.5%, FY24 is 0.7% NEEDS forecast
● Toyota's October Group global sales increased 5.6% from the same month last year - record high in the same month
● Notable stocks: $Toyota Motor (7203.JP)$、 $Mitsubishi UFJ Financial Group (8306.JP)$、 $Capcom (9697.JP)$etc
ー Moo Moo News Japanese stock Evelyn

Market Overview
Today's Tokyo Stock Average ended at 33321.22 yen, 87.17 yen lower than the previous business day, and the Tokyo Stock Price Index (TOPIX) fell 12.21 points to 2364.50.

Top news
A phase change where the appreciation of the yen accelerates, and observations of a temporary drop in US interest rates in the 146 yen range are imminent
The exchange rate of yen against the dollar is rising in the foreign exchange market. On the 29th, 1 dollar = the latter half of the 146 yen range, and the appreciation of the yen and dollar depreciation level for the first time in two and a half months since mid-September were set. US interest rates dropped sharply when US Federal Reserve (Fed) executives mentioned the possibility of interest rate cuts. The narrowing interest rate difference between Japan and the US led to yen purchases.

Maintaining preparedness for economic and price downturns, YCC correction is not an exit - Bank of Japan Committee Member Adachi
On the 29th, deliberation committee member Adachi Seiji of the Bank of Japan expressed the view that flexibility in yield curve control (YCC) policies is not an exit policy, but a measure aimed at continuing mitigation, after maintaining preparations for economic and price declines. I gave a lecture at the Ehime Prefecture Financial and Economic Conference.

Real growth rate for FY23 is 1.5%, FY24 is 0.7% NEEDS forecast
According to forecasts incorporating preliminary gross domestic product (GDP) figures for the fiscal year ending 2023/7/9 published by the Cabinet Office on November 15 into the Japanese economic model of Nikkei's comprehensive economic data bank “NEEDS,” the real growth rate for fiscal year 23 is 1.5%, and fiscal year 24 is expected to be 0.7%.

Notable stocks
Toyota's October Group global sales increased 5.6% from the same month last year - record high in the same month
$Toyota Motor (7203.JP)$It was announced on the 29th that group global sales for October were a record high for the same month as 970,313 units, up 5.6% from the same month last year.

Bank stocks such as Mitsubishi UFJ are soft, and interest rate improvement expectations receded due to early US interest rate cut observations ◇
$Mitsubishi UFJ Financial Group (8306.JP)$Ya $Sumitomo Mitsui Financial Group (8316.JP)$、 $Mizuho Financial Group (8411.JP)$Megabanks have remained soft, etc., and the “banking business” of the Tokyo Stock Exchange's industry-specific index is at the top in terms of rate of decline.

Capcom - Little Move “Dragon's Dogma 2” will be released on 2024/3/22
$Capcom (9697.JP)$is a small movement. The company announced at 14:00 on the 29th that it had decided to release “Dragon's Dogma 2,” the latest work in the “Dragon's Dogma” series, on 2024/3/22.

LINE Yahoo suspends issuing corporate bonds due to stumbling ship information leak
It was launched in October $LY (4689.JP)$is facing a tough departure. The company's server was attacked by a cyber attack, and there is a possibility that approximately 440,000 LINE app user information etc. were leaked. LINE has caused problems with information management in the past, and distrust spreads on SNS saying “is it another problem?”

Distribution source: Nihon Keizai Shimbun, Bloomberg, Traders Web