Tokyo market summary: Nikkei average down, comprehensive judgment from various perspectives immediately after exchange intervention - Minister of Finance Suzuki
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The Nikkei Average ended at 30,994.67 yen, down 80.69 yen from the previous trading day.
The finance minister declined to answer whether there would be intervention on the 3rd, stating that it would be determined comprehensively before making it public.
Daiwa Securities' Mr. Abe said that from April to September, the automobile industry performed well and total corporate profits increased.
The revision of US semiconductor regulations on China is in the final stages, with signs of strengthening restrictions.
Hot Stocks: $Tokyo Electron (8035.JP)$, $Toyota Motor (7203.JP)$, $Inpex (1605.JP)$, $Kawasaki Kisen Kaisha (9107.JP)$
- Moomoo News Japan Stock Sherry
Market Summary
The Nikkei Stock Average on the Tokyo stock market today closed at 30,994.67 yen, down 80.69 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) ended at 2,264.08, up 0.32 points.
The Nikkei Average ended at 30,994.67 yen, down 80.69 yen from the previous trading day.
The finance minister declined to answer whether there would be intervention on the 3rd, stating that it would be determined comprehensively before making it public.
Daiwa Securities' Mr. Abe said that from April to September, the automobile industry performed well and total corporate profits increased.
The revision of US semiconductor regulations on China is in the final stages, with signs of strengthening restrictions.
Hot Stocks: $Tokyo Electron (8035.JP)$, $Toyota Motor (7203.JP)$, $Inpex (1605.JP)$, $Kawasaki Kisen Kaisha (9107.JP)$
- Moomoo News Japan Stock Sherry
Market Summary
The Nikkei Stock Average on the Tokyo stock market today closed at 30,994.67 yen, down 80.69 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) ended at 2,264.08, up 0.32 points.
Top News
The yield on the 40-year government bond has risen to 2%, the highest level since May 2013.
In the bond market on the 6th, the yield on the newly issued 40-year government bond reached the 2% mark, the highest level since May 2013. Selling pressure is dominant due to speculation of an early monetary policy change by the Bank of Japan and the upward trend in long-term interest rates in the United States.
Daiwa Securities' Mr. Abe: "Automobiles performing well, overall increase in company profits from April to September."
As the earnings season for the April-September 2023 period approaches, uncertainty in the global market environment, such as continued expectations of monetary tightening in the United States and a deterioration in China's economy, is increasing. Will domestic companies' performance remain solid? "Daiwa Securities' analysts expect the major listed companies' recurring profits to increase by about 6-9% compared to the same period last year. In particular, the automobile sector will benefit greatly from the weakening yen, and increased production due to the easing of semiconductor shortages will also contribute to earnings," says Kenji Abe, Chief Strategist at Daiwa Securities.
On the question of whether or not there was intervention on the 3rd, the Minister of Finance stated that a comprehensive judgment would be made on whether or not to disclose it.
During a press conference after the cabinet meeting on the 6th, Minister Suzuki Shunichi was asked if there was intervention to buy yen when the yen weakened temporarily to around 150 yen against the dollar on the foreign exchange market on the 3rd. He once again stated that he would not answer. Regarding whether to announce the intervention immediately after it occurs, he said that it would be comprehensively judged.
In a press conference on the 6th, Chief Cabinet Secretary Matsuno Hirokazu commented on the proposal for a consumption tax reduction by the Liberal Democratic Party's parliamentary group, stating that it would require careful consideration. He expressed the view that the consumption tax is an important source of revenue that supports a comprehensive social security system for all generations.
In a press conference on the 6th, Chief Cabinet Secretary Matsuno Hirokazu commented on the fact that the Liberal Democratic Party's parliamentary group had compiled a proposal calling for a reduction in the consumption tax, stating that it would require careful consideration. He expressed the view that the consumption tax is an important source of revenue that supports a comprehensive social security system for all generations.
In a press conference after the cabinet meeting on the 6th, Minister Suzuki Shunichi commented on Prime Minister Kishida Fumio's statement that the increase in tax revenue would be returned, stating that he did not believe there was sufficient financial support for it.
In a press conference after the cabinet meeting on the 6th, Minister Suzuki Shunichi commented on Prime Minister Kishida Fumio's statement that the increase in tax revenue would be returned, stating that he did not believe there was sufficient financial support for it.
Hot Stocks
Tokyo Electron fell as it was reported that the revision of U.S. semiconductor regulations on China is in the final stage and there are signs of further restrictions.
$Tokyo Electron (8035.JP)$is falling. Reuters reported on the 6th that the review of U.S. export restrictions on semiconductors to China has entered its final stage. In response to the report, the company and others are seeing selling pressure. $Advantest (6857.JP)$such as INPEX and petroleum resources are being sold.
INPEX and petroleum resources continued to decline on the 6th, with profit-taking sell-offs due to the fall in WTI crude oil prices showing no signs of stopping.
$Inpex (1605.JP)$such as $Japan Petroleum Exploration (1662.JP)$is falling on the 6th. Profit-taking sell-offs continue for oil stocks that have been showing sharp gains. Concerns about a decrease in crude oil demand are mounting due to increased gasoline inventories announced by the U.S. Energy Information Administration on the 4th, as well as the soft tone of recent U.S. economic indicators.
Toyota Unveils New Crown - First SUV, to be Released in November
$Toyota Motor (7203.JP)$unveiled in Tokyo on the 6th the new model "SPORT Z" hybrid (HV) of the first sports utility vehicle (SUV) type for the luxury "Crown" to the press.
Kawasaki Kisen Kaisha is booming, with marine shipping stocks topping the industry-specific increase rate on a buy-on-dips trend for value stocks.
$Kawasaki Kisen Kaisha (9107.JP)$In the lively trading where it became the second highest in terms of trading value on the whole market, the stock price also rose significantly. $Nippon Yusen Kabushiki Kaisha (9101.JP)$, $Mitsui O.S.K. Lines (9104.JP)$Shipping stocks, including major players, are being bought up across the board. In terms of industry performance, it is the top gainer out of the 33 industries. After the September dividend ex-date, there was a noticeable profit-taking trend in value stocks. However, the selling pressure has eased and there is a buying back movement driven by attractive valuation. Shipping stocks are being bought as a symbol of this trend.
The yield on the 40-year government bond has risen to 2%, the highest level since May 2013.
In the bond market on the 6th, the yield on the newly issued 40-year government bond reached the 2% mark, the highest level since May 2013. Selling pressure is dominant due to speculation of an early monetary policy change by the Bank of Japan and the upward trend in long-term interest rates in the United States.
Daiwa Securities' Mr. Abe: "Automobiles performing well, overall increase in company profits from April to September."
As the earnings season for the April-September 2023 period approaches, uncertainty in the global market environment, such as continued expectations of monetary tightening in the United States and a deterioration in China's economy, is increasing. Will domestic companies' performance remain solid? "Daiwa Securities' analysts expect the major listed companies' recurring profits to increase by about 6-9% compared to the same period last year. In particular, the automobile sector will benefit greatly from the weakening yen, and increased production due to the easing of semiconductor shortages will also contribute to earnings," says Kenji Abe, Chief Strategist at Daiwa Securities.
On the question of whether or not there was intervention on the 3rd, the Minister of Finance stated that a comprehensive judgment would be made on whether or not to disclose it.
During a press conference after the cabinet meeting on the 6th, Minister Suzuki Shunichi was asked if there was intervention to buy yen when the yen weakened temporarily to around 150 yen against the dollar on the foreign exchange market on the 3rd. He once again stated that he would not answer. Regarding whether to announce the intervention immediately after it occurs, he said that it would be comprehensively judged.
In a press conference on the 6th, Chief Cabinet Secretary Matsuno Hirokazu commented on the proposal for a consumption tax reduction by the Liberal Democratic Party's parliamentary group, stating that it would require careful consideration. He expressed the view that the consumption tax is an important source of revenue that supports a comprehensive social security system for all generations.
In a press conference on the 6th, Chief Cabinet Secretary Matsuno Hirokazu commented on the fact that the Liberal Democratic Party's parliamentary group had compiled a proposal calling for a reduction in the consumption tax, stating that it would require careful consideration. He expressed the view that the consumption tax is an important source of revenue that supports a comprehensive social security system for all generations.
In a press conference after the cabinet meeting on the 6th, Minister Suzuki Shunichi commented on Prime Minister Kishida Fumio's statement that the increase in tax revenue would be returned, stating that he did not believe there was sufficient financial support for it.
In a press conference after the cabinet meeting on the 6th, Minister Suzuki Shunichi commented on Prime Minister Kishida Fumio's statement that the increase in tax revenue would be returned, stating that he did not believe there was sufficient financial support for it.
Hot Stocks
Tokyo Electron fell as it was reported that the revision of U.S. semiconductor regulations on China is in the final stage and there are signs of further restrictions.
$Tokyo Electron (8035.JP)$is falling. Reuters reported on the 6th that the review of U.S. export restrictions on semiconductors to China has entered its final stage. In response to the report, the company and others are seeing selling pressure. $Advantest (6857.JP)$such as INPEX and petroleum resources are being sold.
INPEX and petroleum resources continued to decline on the 6th, with profit-taking sell-offs due to the fall in WTI crude oil prices showing no signs of stopping.
$Inpex (1605.JP)$such as $Japan Petroleum Exploration (1662.JP)$is falling on the 6th. Profit-taking sell-offs continue for oil stocks that have been showing sharp gains. Concerns about a decrease in crude oil demand are mounting due to increased gasoline inventories announced by the U.S. Energy Information Administration on the 4th, as well as the soft tone of recent U.S. economic indicators.
Toyota Unveils New Crown - First SUV, to be Released in November
$Toyota Motor (7203.JP)$unveiled in Tokyo on the 6th the new model "SPORT Z" hybrid (HV) of the first sports utility vehicle (SUV) type for the luxury "Crown" to the press.
Kawasaki Kisen Kaisha is booming, with marine shipping stocks topping the industry-specific increase rate on a buy-on-dips trend for value stocks.
$Kawasaki Kisen Kaisha (9107.JP)$In the lively trading where it became the second highest in terms of trading value on the whole market, the stock price also rose significantly. $Nippon Yusen Kabushiki Kaisha (9101.JP)$, $Mitsui O.S.K. Lines (9104.JP)$Shipping stocks, including major players, are being bought up across the board. In terms of industry performance, it is the top gainer out of the 33 industries. After the September dividend ex-date, there was a noticeable profit-taking trend in value stocks. However, the selling pressure has eased and there is a buying back movement driven by attractive valuation. Shipping stocks are being bought as a symbol of this trend.
Source: Bloomberg, Nikkei, MINKABU, Traders' Web, Kyodo News
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182628805 : Thank you very much
micky38 : What is the Liberal Democratic Party thinking about cutting taxes?
Prices continue to rise due to the government which has too much debt to raise interest rates
It's probably a statement aimed at election votes, but debt repayment comes first, isn't it?