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Tokyo Market Summary: Nikkei Average continues to rise on the second day of the ruling party's major defeat, supported by the weakening yen. Financial stocks are also rising across the board due to the rise in US bond yields.

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moomooニュース日本株 wrote a column · Oct 29 01:11
Tokyo Market Summary: Nikkei Average continues to rise on the second day of the ruling party's major defeat, supported by the weakening yen. Financial stocks ar...
●注目銘柄:Thank you for your hard work until the closing bell. Here is today's stock market overview. Thank you in advance.
The Nikkei average closed at 38,903.68 yen, up 298.15 yen from the previous trading day.
The dollar-yen is weak, following the decline in US interest rates.
Sakura stock soars, highly evaluated for significant profit increase and decision for additional investment.
Financial stocks such as banks and insurance companies are being bought across the board, leading the market.
Metaplanet surges 20% significantly higher, with a continued positive view on factors such as additional purchases of bitcoin.
Jikawa Electric's strong upward momentum, with renewed trading interest in Takashi Trade on speculation about the "post Ishiba" era.
● Hot Stocks: $SAKURA Internet (3778.JP)$ $Mitsubishi UFJ Financial Group (8306.JP)$ $Metaplanet (3350.JP)$ $Sukegawa Electric (7711.JP)$ $Sukegawa Electric (7711.JP)$etc
- Moomoo News Japan Stock Sherry
Market Overview
In today's Tokyo stock market, the Nikkei average stock price closed at 38,903.68 yen, up 298.15 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) ended at 2,682.02, up 24.24 points. Financial stocks such as banks and insurance companies were bought across the board due to the rise in long-term interest rates in the United States, leading the index higher. The support material also includes the fact that the exchange rate maintains a weak yen trend.
Tokyo Market Summary: Nikkei Average continues to rise on the second day of the ruling party's major defeat, supported by the weakening yen. Financial stocks ar...
Top News
The dollar-yen pair was soft, following the decline in US interest rates.
Due to the rise in US long-term interest rates and the political uncertainty in Japan, the dollar strengthened and the yen weakened to the 153.80 yen level in the Tokyo market the previous day. However, profit-taking selling has increased today. The dollar has been selling and the yen buying as the US long-term interest rates, which rose by around 4.3% the previous day, have fallen to around 4.27% in after-hours trading.
Remarks by prominent individuals
Minister of Finance Kato
"Keep a close eye on the tense situation in the exchange rate market trends, including speculative movements."
It is important for exchange rates to move steadily reflecting fundamentals.
Hot Stocks
Sakura Co., Ltd. - hit the daily limit, highly evaluated for significant profit increase decision and additional investment.
$SAKURA Internet (3778.JP)$Surged to the daily limit. The company announced its interim results the previous day, with operating profit reaching 1.3 billion yen, 5.2 times higher than the same period last year, surpassing the upward revised figure of 1.1 billion yen on September 20. The full-year forecast remains at 2.6 billion yen, expected to be 2.9 times higher than the previous year, maintaining the previously revised figure. The strong performance is attributed to the start of providing GPU cloud services for AI generation and the growth of cloud services.
Sukawa Denki's sharp rise, reigniting trading momentum on expectations following 'Post Ishiba'.
$Sukegawa Electric (7711.JP)$Sharp rise in price on Sukawa Denki. Bought at 2,550 yen, up 340 yen with a large positive trend the previous day, but today, a rebound in short-selling through the stock lending market fueled further buying, leading to a rapid surge and opening of a gap. It soared to 2,920 yen, up 370 yen at one point, significantly updating the year's high. Nuclear fusion has become a major theme in the trading world, with the company's stock being positioned as the most right-wing in that regard. Following the heavy defeat of the Liberal Democratic Party in the Lower House general election, speculation surrounding the successor to Ishiba is rife. Although Ms. Takaichi - who is seen as a potential successor to Abeconomics - was defeated in the party leadership election, movements indicating consideration for the next prime minister potential have been reflected in the stock’s popular trading.
Financial stocks such as banks and insurance companies were broadly bought, leading the market.
In response to the rise in long-term interest rates in the USA, financial stocks such as banks and insurance companies were broadly bought, leading the index higher. $Mitsubishi UFJ Financial Group (8306.JP)$Rose more than 3%, $Mizuho Financial Group (8411.JP)$Rose more than 2%, $Sumitomo Mitsui Financial Group (8316.JP)$Rose more than 2%.
Metaplanet soared 20%, followed by additional purchases of Bitcoin and continued material consideration.
$Metaplanet (3350.JP)$Soared significantly. On the 28th, the company announced that it had purchased an additional 1.6 billion yen worth of cryptocurrency Bitcoin. The average purchase price this time is 10.2 million 5188 yen per Bitcoin. The total number of shares held is 1018.17 Bitcoin. The total average purchase price is 9.45 million 0746 yen, with a total purchase amount of 9.6 billion 22 million yen.
INPEX rebounded for the first time in 3 days, with buying inflow due to the sense of value despite the fall in crude oil prices.
$Inpex (1605.JP)$ Lannett Co Inc. rebounded for the first time in 3 days. While crude oil prices are weak at present, there is a strong sense of undervaluation from the valuation perspective, and it seems that buying is coming in at the lower end. On the 28th, the U.S. crude oil futures market saw the December WTI (West Texas Intermediate) contract fall by $4.40 per barrel to $67.38, a decline from the previous week. Retaliation against Iran by Israel excluded oil and nuclear facilities, with military facilities as the target, leading to a retreat in oil supply concerns. In response, WTI prices plunged significantly. While falling oil prices pose a headwind to INPEX's performance, the company's stock has been in a downturn since mid-month, with a consolidated PBR of about 0.5 times.dividend yieldWith a sense of undervaluation around 4.3%, there also seems to be buying interest from the perspective of value. $Japan Petroleum Exploration (1662.JP)$It continues to show a slight increase as well.
Source: Various company releases, Bloomberg, MINKABU, FISCO
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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