Tokyo Market Summary: Nikkei Average rises by 486 yen, NVIDIA paves the way for continued rise in AI-related stocks - concerns about investment deceleration recede

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NVIDIA paves the way for continued rise in AI-related stocks - concerns about investment deceleration recede
The US semiconductor manufacturer NVIDIA gave the go-ahead to traders betting not only on its own stock, but also on the rise in artificial intelligence (AI) computing-related stocks. Stock prices of Asian semiconductor companies that are suppliers outperformed the overall market on the 23rd. South Korea's SK Hynix, which supplies high-bandwidth memory (HBM) to the company, temporarily rose 3.2%, and Taiwan TSMC, which manufactures chips on contract, rose 1.5% in price and recorded a record high. Japan's $Advantest (6857.JP)$is 5.2% higher. The Bloomberg Asia Pacific Semiconductor Index hit a high level for just over three years.

Bank of Japan purchase operation, 1 year over 3 years or less, bank breakage - first since cross-dimensional mitigation
Due to the regular government bond purchases carried out by the Bank of Japan on the 23rd, it became a “bill split” where the bid amount did not reach the planned amount for the remaining period of 1 year to 3 years or less. This is the first time since the introduction of cross-dimensional mitigation in 2013. Meanwhile, there was a bid amount of 984.4 billion yen for the planned amount of 425 billion yen for 3 to 5 years and under, and 1.3.1 trillion yen for 425 billion yen for 5 to 10 years or less. Director Matsukawa Tadashi of the Pinebridge Investments Bond Management Department pointed out that “long zones became unstable and yield increases were large, and demand for short zones may have strengthened” regarding bill splits of 1 year to 3 years or less. The view was expressed that “it was shown that it is OK to buy even less for 1 to 3 years or less, so the price may be reduced during the next operation.”
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Global semiconductor sales are expected to grow 10% per year TSMC
Taiwan Semiconductor Manufacturing (TSMC), the largest contract semiconductor manufacturer, predicted on the 23rd that annual sales growth in the global semiconductor industry excluding memory chips would reach 10%. Senior Vice President Cliff Hou said at an event held in Hsinchu where the head office is located, “This is a new golden age of artificial intelligence (AI).”

Are hedge fund meetings paying attention to Japan again - last year's best pick was Disco
The annual meeting of the hedge fund industry, the Thorne Hong Kong Investment Leaders Conference will be held on the 23rd. Most of the bullish investment ideas raised at last year's meeting are still going strong. In 2023, Japan and India gathered the interest of international investors who are distancing themselves from China, and it seems that Japan will also be the center of attention at this year's meeting. The lineup for the 12th meeting in '24 suggests that interest in Japan continues. At least 4 of the speakers scheduled to speak on the main stage are Japanese experts who have worked in Japan.

Pay attention to the handle
Actively considering acquisitions of Sony G, IP, etc. within the framework of 1.8 trillion yen = president
$Sony Group (6758.JP)$At the management policy briefing session on the 23rd, President Hiroki Toki is interested in the acquisition of assets such as excellent IP (intellectual property), etc., and expressed the idea of actively considering them. However, the policy of considering within the strategic investment framework of 1.8 trillion yen over 3 years was also clarified at the same time.
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Sony G-4 day backlash held FY24 management policy briefing session and mentioned strengthening creation etc.