Tokyo Market Summary: Nikkei Average rebounds for the first time in 9 days “Right in the middle investment” reflecting high expectations of buyers in semiconductor-related matters

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“Right in the middle investment” reflecting the Nikkei average of 1000 yen high and high expectations
The re-rise in stocks that have been bought as central themes of Japanese stocks, such as semiconductors, artificial intelligence (AI), and the revival of interest rates, is conspicuous. There are voices saying that “right in the middle investment” in major stocks is proof that expectations for Japanese stocks have not wavered. On the 29th, over 90% of the Tokyo Stock Exchange Prime stocks rose, and there was an overall appreciation. On the technical side, the RSI (relative strength index, 14-day average), which is an indicator showing a sense of overheating in the market price, was 24.25 as of the 26th, below 30, which is a guideline for “oversold.” Yutaka Miura, senior technical analyst at Mizuho Securities, says, “It was a situation where no matter when the autonomous backlash occurred.”

Finally, there is little hope for a return to depreciation of the yen on “Big Wednesday”
The yen's preconceived notions are receding. This is because the focus is once again on the composition where Japan raises interest rates and the United States tends to cut interest rates. The announcements of the results of the monetary policy decision meeting between the Bank of Japan and the US Federal Reserve (Fed) will overlap on Wednesday 31st this week. There are also announcements of China's business confidence index and Australian price statistics on “Big Wednesday,” but the reality is that there is little hope for a depreciation of the yen and a return to appreciation of the dollar regardless of the results.

When is the Bank of Japan's interest rate hike in September = Moody's
Moody's Analytics indicated in the weekly Asia-Pacific Economic Preview that the Bank of Japan would leave policy interest rates unchanged at the 30-31st monetary policy meeting. Instead, the reduction in government bond purchases announced in June is attracting attention this week. Moody's pointed out that “now that inflation has settled down and economic indicators are sluggish, it would be premature to raise interest rates.” The Bank of Japan's interest rate hike period is expected to be in September, and it is expected that economic indicators will show improvement by then.
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It is reported that Mitsubishi itself temporarily rebelled sharply by 6% and joined the Honda-Nissan Coalition ◇
$Mitsubishi Motors(7211.JP)$It was drastically high and rebounded for the first time in 4 days. It was reported in the morning edition of the Nihon Keizai Shimbun today that “it is known that Mitsubishi Motors will join the alliance between Honda and Nissan Motor Co., Ltd.,” and it seems that it is viewed as good news. According to the article, $Honda Motor(7267.JP)$・ $Nissan Motor(7201.JP)$It is said that a confidentiality agreement was signed with, and discussions began.

[Financial Report] Sakura Net's 24Q1 consolidated sales increased 16.3% to 5.9 billion yen, and net profit decreased 61.5% to 41 million yen
$SAKURA Internet(3778.JP)$Consolidated financial results for the fiscal year ending 25/3 Q1 (April-6) were announced after closing on 7/29 (15:00).turnoverIsYear over year16.3% increaseof5.9 billion yen。net profitIs61.5% reductionof41 million yen。Operating profitIs122.0% increaseof0.2 billion yen。Net profit per shareIs1.15 yen。

Eisai plummeted 13% at one point, and the European Medicines Commission took a negative opinion on “lecanemab”
$Eisai(4523.JP)$has plummeted. It fell below the 4/19 low (5795 yen) and updated the year-to-date low for the first time in about 3 months. After the end of trading on the 26th of the previous weekend, rice $Biogen(BIIB.US)$It was announced that the European Medicines Commission (CHMP) of the European Medicines Agency (EMA) adopted a negative opinion on the EU sales approval application for the dementia drug “lecanemab,” which was jointly developed with. This is viewed as sales material.

Is Nomura HD more than double net profit due to retail lead - financial results preview
$Nomura Holdings(8604.JP)$The consolidated net profit for the fiscal year ending 2024/4/6 (1st quarter) to be announced on the 30th is led by the wealth management division responsible for domestic retail, and profit is likely to increase compared to the same period last year. Analysts expect net profit to be more than double.

Distributor: Nihon Keizai Shimbun, Bloomberg, MINKABU, Dow Jones, Moomoo