Tokyo Market Summary: Nikkei Average Hits Highest Price Total Risk Turns On Due to Federal Reserve “Pigeons”
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●The Nikkei Stock Average ended at 40815.66 yen, 812.06 yen higher than the previous business day
● The Nikkei Average hit a high, and due to expectations of lower US interest rates and depreciation of the yen - export-related and financial services are high
● Government bond purchases will be reduced in the future, holdings will also be compressed, and balances will be maintained for the time being - Bank of Japan Governor
● March Reuters Business Survey: Bank of Japan additional interest rate hike, 60% expected to be up to 0.25% by the end of the year
● Attention to the handle: $Lasertec(6920.JP$、 $SoftBank(9434.JP$etc
-MooMoo News Japan Stock Zeber
Market Overview
Today's Nikkei Stock Average ended at 40815.66 yen, 812.06 yen higher than the previous business day, and the Tokyo Stock Price Index (TOPIX) ended at 2796.21, 45.24 points higher than the previous business day.
●The Nikkei Stock Average ended at 40815.66 yen, 812.06 yen higher than the previous business day
● The Nikkei Average hit a high, and due to expectations of lower US interest rates and depreciation of the yen - export-related and financial services are high
● Government bond purchases will be reduced in the future, holdings will also be compressed, and balances will be maintained for the time being - Bank of Japan Governor
● March Reuters Business Survey: Bank of Japan additional interest rate hike, 60% expected to be up to 0.25% by the end of the year
● Attention to the handle: $Lasertec(6920.JP$、 $SoftBank(9434.JP$etc
-MooMoo News Japan Stock Zeber
Market Overview
Today's Nikkei Stock Average ended at 40815.66 yen, 812.06 yen higher than the previous business day, and the Tokyo Stock Price Index (TOPIX) ended at 2796.21, 45.24 points higher than the previous business day.
Top news
The Nikkei Average hit a high, and export-related and finance are high due to expectations of lower US interest rates and depreciation of the yen
The Tokyo stock exchange rate continued to grow drastically on the 21st, and the Nikkei Stock Average hit an all-time high during trading hours. Since the US Federal Open Market Committee (FOMC) left the previous forecast that interest rate cuts in 2024 would be 3 times unchanged, a sense of purchase security spread.
Government bond purchases will be reduced in the future, holdings will also be compressed, and balances will be maintained for the time being - Bank of Japan Governor
Bank of Japan Governor Ueda Kazuo was questioned on the 21st about policies to reduce government bond balances held in response to large-scale monetary easing reviews, and expressed the view that government bond purchases will be reduced in the future, and holdings balances will also decrease. I answered at the House of Councillors Finance Committee.
March Reuters Business Survey: Bank of Japan additional interest rate hike, 60% expected to reach 0.25% by the end of the year
In the March Reuters corporate survey, when asked to predict how far the Bank of Japan would raise policy interest rates after the negative interest rate policy was lifted, about 60% answered that it would be up to 0.25% by the end of the year. Approximately 40% expect that there will be an initial interest rate hike by September, and many voices were heard that they would consider bringing capital investment ahead of schedule. Over 20% answered that it was next year or later, and there were also about 10% that interest rates could not be raised.
Household financial assets reached a record high with stock appreciation of 2141 trillion yen at the end of 23
According to the fund circulation statistics (preliminary report) for the fiscal year ending 2023/10-12 announced by the Bank of Japan on the 21st, household financial assets as of the end of December were 2,141 trillion yen, up 5.1% from the same period last year, and hit a record high for 5 consecutive quarters. Unrealized gains from stocks and mutual funds swelled due to stock appreciation, boosting financial asset balances.
Yen is in the first half of the 150 yen range, rebounding from year-to-date lows in response to FOMC - Bank of Japan interest rate hike alert
The yen exchange rate of the Tokyo Foreign Exchange Market rose to the first half of the 1 dollar = 150 yen range on the 21st. The trend of a rebound in overseas markets after the year-to-date low was updated continues. Dollars were sold in response to interest rate predictions from the U.S. Federal Open Market Committee (FOMC) and Federal Reserve (FRB) Chairman Powell (FRB) remarks, and they are being bought back into yen. Bank of Japan Governor Ueda Kazuo stated that the expected inflation rate is in the process of rising towards 2%, and a sense of caution against additional interest rate increases is also encouraging yen purchases.
Bond futures are falling, and there are voices saying that liquidity supply bidding is weakening - there are also warnings of additional interest rate hikes
Futures fell on the bond exchange rate on the 21st. There are voices saying that liquidity supply bids carried out on the same day were weak. There is also a sense of caution that the Bank of Japan will step up additional interest rates at an early stage.
Featured stocks
Toyota grants support to dealerships 10,000 yen per employee per month
$Toyota Motor(7203.JP$From 2024, efforts to provide support money to dealers according to the number of employees will begin. The policy is to pay 10,000 yen per employee per month, and they will be used for capital to improve treatment and the work environment. Parts companies also have a policy of reflecting increases in labor costs in procurement prices from April, and they will support human resource investment by business partners in terms of both manufacturing and sales.
Lasertech --- Significant growth continues, in response to US FOMC passage and Micron's strong performance outlook
$Lasertec(6920.JP$has continued to increase drastically. The FOMC, which attracted attention, maintained the forecast of three interest rate cuts by the end of the year, and the US stock market rose due to a sense of security, and the SOX index also turned to a rebound the day before. Furthermore, Micron, a major semiconductor company, has announced financial results, and the sales forecast for the March-May fiscal year is 64-6.8 billion dollars, which exceeds market expectations of about 6 billion dollars. Micron shares temporarily rose 15% due to overtime trading, leading to support materials for domestic semiconductor-related stocks such as the company.
SoftBank - System Development to Maximize Throughput Under Delay Restrictions in the Solid NEDO Business
$SoftBank(9434.JP$is solid. The company announced on the 21st that it has developed a distributed processing system using an MEC/cloud environment required in the post-5G era in collaboration with the National Institute of Industrial Science and Technology in collaboration with the National Institute of Advanced Industrial Science and Technology, that satisfies delay restrictions and at the same time dynamically performs optimal arrangement of components constituting applications to maximize throughput in the “post-5G information communication system infrastructure strengthening research and development project” outsourced by NEDO.
Distributor: Bloomberg, Nihon Keizai Shimbun, Jiji Press, QUICK Money World, Traders Web、Reuters
The Nikkei Average hit a high, and export-related and finance are high due to expectations of lower US interest rates and depreciation of the yen
The Tokyo stock exchange rate continued to grow drastically on the 21st, and the Nikkei Stock Average hit an all-time high during trading hours. Since the US Federal Open Market Committee (FOMC) left the previous forecast that interest rate cuts in 2024 would be 3 times unchanged, a sense of purchase security spread.
Government bond purchases will be reduced in the future, holdings will also be compressed, and balances will be maintained for the time being - Bank of Japan Governor
Bank of Japan Governor Ueda Kazuo was questioned on the 21st about policies to reduce government bond balances held in response to large-scale monetary easing reviews, and expressed the view that government bond purchases will be reduced in the future, and holdings balances will also decrease. I answered at the House of Councillors Finance Committee.
March Reuters Business Survey: Bank of Japan additional interest rate hike, 60% expected to reach 0.25% by the end of the year
In the March Reuters corporate survey, when asked to predict how far the Bank of Japan would raise policy interest rates after the negative interest rate policy was lifted, about 60% answered that it would be up to 0.25% by the end of the year. Approximately 40% expect that there will be an initial interest rate hike by September, and many voices were heard that they would consider bringing capital investment ahead of schedule. Over 20% answered that it was next year or later, and there were also about 10% that interest rates could not be raised.
Household financial assets reached a record high with stock appreciation of 2141 trillion yen at the end of 23
According to the fund circulation statistics (preliminary report) for the fiscal year ending 2023/10-12 announced by the Bank of Japan on the 21st, household financial assets as of the end of December were 2,141 trillion yen, up 5.1% from the same period last year, and hit a record high for 5 consecutive quarters. Unrealized gains from stocks and mutual funds swelled due to stock appreciation, boosting financial asset balances.
Yen is in the first half of the 150 yen range, rebounding from year-to-date lows in response to FOMC - Bank of Japan interest rate hike alert
The yen exchange rate of the Tokyo Foreign Exchange Market rose to the first half of the 1 dollar = 150 yen range on the 21st. The trend of a rebound in overseas markets after the year-to-date low was updated continues. Dollars were sold in response to interest rate predictions from the U.S. Federal Open Market Committee (FOMC) and Federal Reserve (FRB) Chairman Powell (FRB) remarks, and they are being bought back into yen. Bank of Japan Governor Ueda Kazuo stated that the expected inflation rate is in the process of rising towards 2%, and a sense of caution against additional interest rate increases is also encouraging yen purchases.
Bond futures are falling, and there are voices saying that liquidity supply bidding is weakening - there are also warnings of additional interest rate hikes
Futures fell on the bond exchange rate on the 21st. There are voices saying that liquidity supply bids carried out on the same day were weak. There is also a sense of caution that the Bank of Japan will step up additional interest rates at an early stage.
Featured stocks
Toyota grants support to dealerships 10,000 yen per employee per month
$Toyota Motor(7203.JP$From 2024, efforts to provide support money to dealers according to the number of employees will begin. The policy is to pay 10,000 yen per employee per month, and they will be used for capital to improve treatment and the work environment. Parts companies also have a policy of reflecting increases in labor costs in procurement prices from April, and they will support human resource investment by business partners in terms of both manufacturing and sales.
Lasertech --- Significant growth continues, in response to US FOMC passage and Micron's strong performance outlook
$Lasertec(6920.JP$has continued to increase drastically. The FOMC, which attracted attention, maintained the forecast of three interest rate cuts by the end of the year, and the US stock market rose due to a sense of security, and the SOX index also turned to a rebound the day before. Furthermore, Micron, a major semiconductor company, has announced financial results, and the sales forecast for the March-May fiscal year is 64-6.8 billion dollars, which exceeds market expectations of about 6 billion dollars. Micron shares temporarily rose 15% due to overtime trading, leading to support materials for domestic semiconductor-related stocks such as the company.
SoftBank - System Development to Maximize Throughput Under Delay Restrictions in the Solid NEDO Business
$SoftBank(9434.JP$is solid. The company announced on the 21st that it has developed a distributed processing system using an MEC/cloud environment required in the post-5G era in collaboration with the National Institute of Industrial Science and Technology in collaboration with the National Institute of Advanced Industrial Science and Technology, that satisfies delay restrictions and at the same time dynamically performs optimal arrangement of components constituting applications to maximize throughput in the “post-5G information communication system infrastructure strengthening research and development project” outsourced by NEDO.
Distributor: Bloomberg, Nihon Keizai Shimbun, Jiji Press, QUICK Money World, Traders Web、Reuters
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