Tokyo Market Summary: Nikkei average falls for the third consecutive day, 7 & iHD acquisition proposal aims to raise prices for shareholders - according to U.S. Artisan

Hello to all Moomoo users!Good evening at the close. The summary of today's stock market is as follows. Thank you.
Nikkei average closed at 38,110.22 yen, down 254.05 yen from the previous business day.
Japanese yen strengthened and stocks fell as the US hints at 'rate cut' - experts analyze the situation this way
Next BOJ rate hike in December, accelerating bond purchases from year-end = Daido Life, Head of Investment Department
7 & iHD acquisition proposal aims to raise prices for shareholders - according to U.S. Artisan
The yen is in the 144 yen range against the dollar, reaching a three-week high due to expectations of a US interest rate cut and concerns in the Middle East.
●Hot Stocks: $Seven & i Holdings (3382.JP)$、 $Nichirei (2871.JP)$、 $Isetan Mitsukoshi Holdings (3099.JP)$
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Market Overview
In today's Tokyo stock market, the Nikkei average stock price closed at 38,110.22 yen, down 254.05 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) closed at 2,661.41, down 23.31 points.

Top News
Japan experiences a strong yen and a decline in stock prices following hints of a US 'interest rate cut': this is how experts view it.
Following the suggestion of a rate cut by Jerome Powell, Chairman of the Federal Reserve Board (FRB), the Nikkei average temporarily dropped more than 500 yen in the Tokyo market at the beginning of the week. Meanwhile, the current dollar is fluctuating around the 143 yen mark, continuing the trend of a strong yen.

First Life's Head of Investment, Kazuyuki Shigemoto, predicts that the Bank of Japan's next rate hike will be in December, speeding up government bond purchases from the end of the year.
Kazuyuki Shigemoto, Executive Officer at First Life Insurance and Head of Investments, suggests that the Bank of Japan's next rate hike will be in December this year and once more in the 2025 fiscal year. He also revealed plans to accelerate the currently restrained purchase of Japanese government bonds after the US presidential election.

The yen is in the 144-yen range against the dollar, reaching a three-week high due to expectations of a US rate cut and concerns in the Middle East.
On the 26th in the Tokyo foreign exchange market, the yen rose to the 143 yen range per dollar. After briefly hitting a three-week high, it has been struggling. Last week, FRB Chairman Jerome Powell stated that the time has come for a rate cut, once again highlighting the differences in monetary policy direction between Japan advancing its financial easing and the US. Concerns about the worsening situation in the Middle East in the morning also boosted the yen's rise due to risk aversion.

Hot stocks
7＆iHD Acquisition Proposal - Artisan in the US is making efforts to raise the price for shareholders
If the acquisition by Canadian convenience store giant Alimentation Couche-Tard is successful, it will not only be the largest case involving a Japanese company, but also an extremely rare case of a large-scale case involving a foreign company. The initial non-binding acquisition proposal from Couche-Tard may exceed the market value of 7&i Holdings, which is 5.63 trillion yen after the news on the 19th. In the past, attempts to acquire companies of this scale were considered impossible due to the government's protectionist tendencies and the management's priority of stability over shareholder value. However, the tide is changing as the Ministry of Economy, Trade and Industry formulated the "Guidelines for Actions in Corporate Acquisitions" last year, calling for improved corporate governance and sincere responses to acquisition proposals. $Seven & i Holdings (3382.JP)$Regarding the acquisition proposal, long-term shareholders of 7＆iHD have claimed that the company's management and board of directors have a responsibility to achieve a better price for the shareholders.

NICHIREI continues to rise on the 10th day, running in the new high range due to favorable performance outlook and the tailwind of yen appreciation.
$Nichirei (2871.JP)$Continues to rise on the 10th day. Strong sales for household and commercial use, as well as growth in overseas business and the effect of price revisions, have propelled the company forward on a growth trend.

Mitsukoshi Isetan - significant decline due to concerns about future inbound demand amidst yen appreciation.
Significant decline. The decline in automobile stocks, etc., is becoming prominent due to the yen's appreciation, and there is a sense of increased caution about the future of inbound-related companies.

Pharmaceutical stocks pass through the high price update battle after the crash - accelerating rapidly with three engines on top.
Pharmaceutical stocks are performing well in the Japanese stock market. Despite the overall market crash in early August, they quickly returned to stability and were the first to reach an all-time high among the 33 industries on the Tokyo Stock Exchange. The pharmaceutical index recorded its highest value since 1983 according to Bloomberg's data on the 22nd of the month, and continued to rise on the 23rd.

Source: Bloomberg, MINKABU, Reuters