Tokyo market summary: Nikkei average falls, BOJ Governor Ueda stated, 'Just because the outlook is favorable, it does not mean we will raise interest rates every time.' The yen depreciates.
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The Nikkei average closed at 38,220.85 yen, down 422.06 yen from the previous business day.
The yen weakened to the mid-155 yen level temporarily, due to Governor Ueda's remarks.
Goldman Sachs lowers growth rate forecasts for asia excluding Japan in 2025.
Good planning - significant increase, held a management policy briefing last weekend.
Bank of Japan Governor Ueda: Just because the outlook is good doesn't mean interest rates will be raised every time.
Kawasaki Kisen Kaisha - Surging, appreciating the rise in China's export container freight index.
Hot Stocks: $Ryohin Keikaku (7453.JP)$、 $Fanuc (6954.JP)$、 $Keyence (6861.JP)$
- moomoo news on individual Japanese stocks Sherry
The Nikkei average closed at 38,220.85 yen, down 422.06 yen from the previous business day.
The yen weakened to the mid-155 yen level temporarily, due to Governor Ueda's remarks.
Goldman Sachs lowers growth rate forecasts for asia excluding Japan in 2025.
Good planning - significant increase, held a management policy briefing last weekend.
Bank of Japan Governor Ueda: Just because the outlook is good doesn't mean interest rates will be raised every time.
Kawasaki Kisen Kaisha - Surging, appreciating the rise in China's export container freight index.
Hot Stocks: $Ryohin Keikaku (7453.JP)$、 $Fanuc (6954.JP)$、 $Keyence (6861.JP)$
- moomoo news on individual Japanese stocks Sherry
Market Overview
In today's Tokyo stock market, the Nikkei Stock Average closed at 38,220.85 yen, down 422.06 yen from the previous trading day, and the TOPIX closed at 2,691.76, down 19.88 points. Foreign investors who anticipate the sluggish return of Japanese stocks due to concerns about the receding expectations of a US rate cut and escalating US-China tensions have been dominant in futures selling. The US semiconductor giant $NVIDIA (NVDA.US)$With the announcement of the financial results for the August-October 2024 period coming on the 20th, there is also selling pressure from position adjustments. When BOJ Governor Ueda's comments did not give a hawkish impression pushing for rate hikes, the yen exchange rate struggled to rise, leading to some resistance in the Nikkei average.
In today's Tokyo stock market, the Nikkei Stock Average closed at 38,220.85 yen, down 422.06 yen from the previous trading day, and the TOPIX closed at 2,691.76, down 19.88 points. Foreign investors who anticipate the sluggish return of Japanese stocks due to concerns about the receding expectations of a US rate cut and escalating US-China tensions have been dominant in futures selling. The US semiconductor giant $NVIDIA (NVDA.US)$With the announcement of the financial results for the August-October 2024 period coming on the 20th, there is also selling pressure from position adjustments. When BOJ Governor Ueda's comments did not give a hawkish impression pushing for rate hikes, the yen exchange rate struggled to rise, leading to some resistance in the Nikkei average.
Top News
Temporarily depreciated to the lower 155 yen range, influenced by BOJ Governor Ueda's statement.
The dollar-yen rate temporarily rose to around 155.14 yen. The trend of yen depreciation and dollar appreciation paused at the end of last week, now showing signs of corrections, yet the downside risks have not widened. Governor Ueda's statements during a speech, repeatedly emphasizing that the timing of adjusting monetary easing measures depends on future economic, price, and financial conditions, provided clues for yen selling. Comments hinting at additional rate hikes at the Bank of Japan's monetary policy meeting next month were limited. However, there were no statements denying an early additional rate hike, hence the yen selling pressure remains.
Temporarily depreciated to the lower 155 yen range, influenced by BOJ Governor Ueda's statement.
The dollar-yen rate temporarily rose to around 155.14 yen. The trend of yen depreciation and dollar appreciation paused at the end of last week, now showing signs of corrections, yet the downside risks have not widened. Governor Ueda's statements during a speech, repeatedly emphasizing that the timing of adjusting monetary easing measures depends on future economic, price, and financial conditions, provided clues for yen selling. Comments hinting at additional rate hikes at the Bank of Japan's monetary policy meeting next month were limited. However, there were no statements denying an early additional rate hike, hence the yen selling pressure remains.
Remarks by prominent individuals
- Governor Ueda of the Bank of Japan
BOJ Governor Ueda Kazuo greeted attendees at a financial and economic roundtable in Nagoya on the 18th, reiterating the existing policy.
- Governor Ueda of the Bank of Japan
BOJ Governor Ueda Kazuo greeted attendees at a financial and economic roundtable in Nagoya on the 18th, reiterating the existing policy.
"Just because the outlook is positive doesn't mean we raise rates every time."
"At each decision-making meeting, we inspect the data and information that comes in and proceed with appropriate responses, which remains the fundamental principle."
"At the December meeting, we make appropriate policy judgments based on additional data, information, etc."
"The current monetary easing stance is quite strong."
"No comments on the short-term trends of exchange rates."
"Analyze the economic and price outlook, risks, including the economic factors behind exchange rate movements, and make judgments at each decision-making meeting."
"It is difficult to evaluate the overall impact of a weakening yen on the economy."
"If we do not adjust the easing intensity appropriately, it will happen somewhere."InflationThere is a possibility that a rapid acceleration could lead to a significant increase in interest rates.
Goldman Sachs lowers its 2025 economic growth forecast for Asia excluding Japan by 20 basis points (bp) to 4.5%. For Japan, it is expected to recover from the automotive-related shock in the first quarter of 25, turning to a positive growth of 1.2%. The economic growth rate for the USA in 25 is expected to slow down from 2.7% to 2.5%, and the economic growth rate for the Eurozone is expected to remain at 0.8%, the same as the 24 forecast.
Kawasaki Kisen Kaisha - Soaring Appreciation - Good impression of the rise in China's export container freight index. Soared. The China Containerized Freight Index (CCFI), announced by the Shanghai Shipping Exchange on November 15, rose by 3.7% from the previous week to 1438.97. The stock price is seen rising to 2174.00 yen, up 3% from the previous day's close.
Kawasaki Kisen Kaisha - Soaring Appreciation - Good impression of the rise in China's export container freight index. Soared. The China Containerized Freight Index (CCFI), announced by the Shanghai Shipping Exchange on November 15, rose by 3.7% from the previous week to 1438.97. The stock price is seen rising to 2174.00 yen, up 3% from the previous day's close.
Hot stocks
Soars - The China Containerized Freight Index (CCFI), announced by the Shanghai Shipping Exchange on November 15, increased by 3.7% from the previous week to 1438.97. The stock price is seen rising to 2174.00 yen, up 3% from the previous day's close.
$Kawasaki Kisen Kaisha (9107.JP)$The China Containerized Freight Index (CCFI), announced by the Shanghai Shipping Exchange on November 15, rose by 3.7% from the previous week to 1438.97. The stock price is seen rising to 2174.00 yen, up 3% from the previous day's close. $Nippon Yusen Kabushiki Kaisha (9101.JP)$、 $Mitsui O.S.K. Lines (9104.JP)$High, too high.
Soars - The China Containerized Freight Index (CCFI), announced by the Shanghai Shipping Exchange on November 15, increased by 3.7% from the previous week to 1438.97. The stock price is seen rising to 2174.00 yen, up 3% from the previous day's close.
$Kawasaki Kisen Kaisha (9107.JP)$The China Containerized Freight Index (CCFI), announced by the Shanghai Shipping Exchange on November 15, rose by 3.7% from the previous week to 1438.97. The stock price is seen rising to 2174.00 yen, up 3% from the previous day's close. $Nippon Yusen Kabushiki Kaisha (9101.JP)$、 $Mitsui O.S.K. Lines (9104.JP)$High, too high.
Ryohin Keikaku - significantly extended, held a management policy briefing last weekend.
$Ryohin Keikaku (7453.JP)$Shares soar significantly. It seems that a management policy briefing by the next president was held over the weekend. According to the three-year rolling plan until the end of August 2027, the operating profit targets 79 billion yen for the fiscal year ending in August 2027, compared to the 55 billion yen planned for the fiscal year ending in August 2025, aiming for an average annual growth rate of over 10%.
$Ryohin Keikaku (7453.JP)$Shares soar significantly. It seems that a management policy briefing by the next president was held over the weekend. According to the three-year rolling plan until the end of August 2027, the operating profit targets 79 billion yen for the fiscal year ending in August 2027, compared to the 55 billion yen planned for the fiscal year ending in August 2025, aiming for an average annual growth rate of over 10%.
Fanuc Corp stock falls, with September machinery orders decreasing by 0.7%.
$Fanuc (6954.JP)$Shares fall. According to the September machinery order statistics announced by the Cabinet Office on the 18th, the order amount (seasonally adjusted) for "private demand excluding ships and electrical utilities," a leading indicator of private facility investment, decreased by 0.7% compared to the previous month to 852 billion yen. This decline marks the third consecutive month. Looking at the breakdown, it appears that the manufacturing sector is struggling, associated with selling off. It is related to facility investment. $Keyence (6861.JP)$Koss Corp is also cheap.
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Machinery orders in September decreased by 0.7%, with a forecast of 5.7% increase for the October-December period.
$Fanuc (6954.JP)$Shares fall. According to the September machinery order statistics announced by the Cabinet Office on the 18th, the order amount (seasonally adjusted) for "private demand excluding ships and electrical utilities," a leading indicator of private facility investment, decreased by 0.7% compared to the previous month to 852 billion yen. This decline marks the third consecutive month. Looking at the breakdown, it appears that the manufacturing sector is struggling, associated with selling off. It is related to facility investment. $Keyence (6861.JP)$Koss Corp is also cheap.
Related Articles
Machinery orders in September decreased by 0.7%, with a forecast of 5.7% increase for the October-December period.
Source: Various company releases, MINKABU, FISCO, Dow Jones, Trader's Web
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