Tokyo market summary: Nikkei average is down 19.58 yen, with focus on US employment statistics and more.
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Market Overview
The Nikkei Stock Average on the Tokyo Stock Exchange closed at 38,683.93 yen, down 19.58 yen from the previous trading day, and the TOPIX closed at 2,755.03, down 2.20 points.
The Nikkei Stock Average on the Tokyo Stock Exchange closed at 38,683.93 yen, down 19.58 yen from the previous trading day, and the TOPIX closed at 2,755.03, down 2.20 points.
Top News
BOJ Meeting Expectations = Bloomberg
The majority of economists expect the Bank of Japan to decide on reducing bond purchases at this month's monetary policy meeting, with almost everyone expecting a postponement of additional rate hikes at this meeting.
92% of surveyed economists expect additional rate hikes to be implemented within the year, surpassing the 81% result from the April survey.
54% of surveyed participants believe that a decision to reduce bond purchases will be made at this meeting, while 26% do not expect it. Additionally, 65% believe that the Bank of Japan should provide a clearer outline of its future bond purchase plans.
Yen depreciation pressure increases the possibility of rate hikes within the year, with 73% of respondents considering that the Bank of Japan is facing rate hike pressure due to yen depreciation.
BOJ Meeting Expectations = Bloomberg
The majority of economists expect the Bank of Japan to decide on reducing bond purchases at this month's monetary policy meeting, with almost everyone expecting a postponement of additional rate hikes at this meeting.
92% of surveyed economists expect additional rate hikes to be implemented within the year, surpassing the 81% result from the April survey.
54% of surveyed participants believe that a decision to reduce bond purchases will be made at this meeting, while 26% do not expect it. Additionally, 65% believe that the Bank of Japan should provide a clearer outline of its future bond purchase plans.
Yen depreciation pressure increases the possibility of rate hikes within the year, with 73% of respondents considering that the Bank of Japan is facing rate hike pressure due to yen depreciation.
Monthly household spending in Japan in April: +0.5% year-on-year, matching market expectations.
● In April, real consumer spending in Japan increased by 0.5% compared to the same month last year, turning positive for the first time in 14 months. The increase was mainly due to the rise in the number of people going out during the Golden Week holidays and an increase in dining out expenses.
● Out of the 10 items of consumer spending, 6 items increased compared to the same month last year. "Clothing and footwear" increased by 11.3%, "furniture and household goods" increased by 1.9%, and "education" increased by 25.9%.
Nippon Steel and Takeda Pharmaceutical set the conditions for issuing subordinated bonds, exceeding 600 billion yen in issue amount.
$Nippon Steel (5401.JP)$and $Takeda Pharmaceutical (4502.JP)$Will issue subordinated bonds totaling over 600 billion yen, conducting large-scale fundraising related to corporate mergers and acquisitions (M&A).
● In April, real consumer spending in Japan increased by 0.5% compared to the same month last year, turning positive for the first time in 14 months. The increase was mainly due to the rise in the number of people going out during the Golden Week holidays and an increase in dining out expenses.
● Out of the 10 items of consumer spending, 6 items increased compared to the same month last year. "Clothing and footwear" increased by 11.3%, "furniture and household goods" increased by 1.9%, and "education" increased by 25.9%.
Nippon Steel and Takeda Pharmaceutical set the conditions for issuing subordinated bonds, exceeding 600 billion yen in issue amount.
$Nippon Steel (5401.JP)$and $Takeda Pharmaceutical (4502.JP)$Will issue subordinated bonds totaling over 600 billion yen, conducting large-scale fundraising related to corporate mergers and acquisitions (M&A).
Toyota extended its decline in the afternoon trading session, as two major banks are reportedly considering selling policy-held shares.
$Toyota Motor (7203.JP)$Extended its decline in the afternoon trading session. On the 7th, U.S. Bloomberg reported that the two major banks, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (FG), are considering selling shares of Toyota Motor held as policy-held stocks. It seems that selling pressure increased due to concerns about the supply and demand of the shares.
$Toyota Motor (7203.JP)$Extended its decline in the afternoon trading session. On the 7th, U.S. Bloomberg reported that the two major banks, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (FG), are considering selling shares of Toyota Motor held as policy-held stocks. It seems that selling pressure increased due to concerns about the supply and demand of the shares.
Mitsubishi UFJ is sluggish, with reports of the monitoring committee recommending disciplinary action for unauthorized sharing of customer information.
$Mitsubishi UFJ Financial Group (8306.JP)$Nikkei Electronic Version reported early on the 7th that the Securities and Exchange Surveillance Commission has begun considering recommending the Financial Services Agency to take administrative action against two banks and securities companies under Mitsubishi UFJ Financial Group (MUFG).
$Mitsubishi UFJ Financial Group (8306.JP)$Nikkei Electronic Version reported early on the 7th that the Securities and Exchange Surveillance Commission has begun considering recommending the Financial Services Agency to take administrative action against two banks and securities companies under Mitsubishi UFJ Financial Group (MUFG).
Source: MINKABU, Bloomberg, FISCO
- moomoo News Japanese Stocks Zoe
- moomoo News Japanese Stocks Zoe
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