Tokyo Market Summary: Nikkei average falls, continuing the trend of rising long-term US interest rates

Hello Moomoo users!Good job at the market close. Here is today's summary of the stock market. Thank you.
●The Nikkei average closed at 32,271.82 yen, down 436.66 yen from the previous trading day
●Bonds fall as US long-term interest rates rise - Inflation-linked bond auctions are lackluster
●Are the interim financial results of the top 5 trading firms still attractive to Warren Buffett? Checking from 5 perspectives
nintendo co ltd, investors are interested in whether there will be an upward revision of performance due to the weakening yen. What is the sales outlook for the Switch heading into the year-end shopping season?
NTT 23Q2 (July-September) earnings (consolidated): EPS 7.87 yen (estimate 7.37 yen), revenue 6.36 trillion yen (estimate 6.53 trillion yen)
Hot Stocks: $Mitsubishi (8058.JP)$、 $Mitsui (8031.JP)$、 $Nippon Telegraph & Telephone (9432.JP)$、 $Nintendo (7974.JP)$etc
- Moomoo Japan Stock Zeber News

Market Overview
The Nikkei Stock Average in the Tokyo stock market today closed at 32,271.82 yen, down 436.66 yen from the previous trading day, while the Tokyo Stock Price Index (TOPIX) closed at 2,332.91, down 27.55 points.

Top News
Bonds fell, continuing the trend of rising long-term US bond yields - inflation-linked bond auctions were disappointing.
Bond prices fell on the 7th. Following the trend of rising long-term interest rates due to lingering expectations of interest rate hikes in the United States and concerns over mass issuance of corporate bonds. Persistent speculation about a policy adjustment by the Bank of Japan also weighed on the market. The auction of inflation-linked bonds was disappointing, but its impact on the market was limited.

"Pseudo-small businesses" evade taxes, 30% increase in companies reducing capital - continued decline in tax revenue.
Companies with capital exceeding 0.1 billion yen are reducing their capital to avoid paying standard corporate taxes and are increasingly becoming "pseudo-small businesses." The number of companies that reduced their capital to below 0.1 billion yen in the 2022 fiscal year increased by 30% compared to the previous year. There are concerns that if left unchecked, the fairness of tax burden and the stability of tax revenue may be compromised, prompting the Ministry of Internal Affairs and Communications to take urgent measures.

5 major trading companies' interim results are still attractive to Mr. Buffett? Check from 5 perspectives.
The consolidated earnings for the second quarter (April-September) of the fiscal year ending in March 2024 have been released for the 5 major trading companies. $Mitsubishi (8058.JP)$、 $Mitsui (8031.JP)$、 $ITOCHU (8001.JP)$、 $Sumitomo (8053.JP)$、 $Marubeni (8002.JP)$Although not reaching the benefits of the previous period when they benefited from high resource prices, all companies have revised their full-year net profit forecasts upwards, driven by the tailwinds of a weaker yen.

Hot stocks
[Earnings Preview] Nintendo Co Ltd. attracts attention on whether it will revise its performance upwards due to the weak yen. What are the sales prospects for the Switch leading up to the year-end shopping season?
$Nintendo (7974.JP)$moomoo will disclose the financial results for the second quarter of the fiscal year ending March 2024 (April-September, Q2) at 3:30 pm on November 7th. Market estimates for Q2 (July-September only as of 11/6) are revenue of 316.4 billion yen and earnings per share (EPS) of 63.98 yen. There is high interest in performance upgrades due to factors such as the weak yen, as well as sales forecasts for the Switch ahead of the year-end shopping season. The company's forecast suggests a decrease in both revenue and profit for the full fiscal year ending March 2024.

[Earnings Flash] NTT Q2 (April-September) earnings (consolidated): EPS 7.87 yen (expected 7.37 yen), revenue 6.36 trillion yen (expected 6.53 trillion yen).
$Nippon Telegraph & Telephone (9432.JP)$announced the consolidated financial results (under IFRS) for the second quarter of the fiscal year ending March 2024 (April-September) in the afternoon session on November 7th. The earnings per share (EPS) was 7.87 yen, slightly higher than the expected 7.37 yen. Revenue was 6.36 trillion yen, slightly below the expected 6.53 trillion yen.

Mitsui & Co. dropped for the first time in 5 days. According to Nikkei, Minister of Economy, Trade and Industry, Yasutoshi Nishimura, stated that the impact of U.S. sanctions on the Russian LNG project cannot be avoided.
$Mitsui (8031.JP)$dropped for the first time in 5 days. At 1:23 PM on the 7th, in a press conference, Minister of Economy, Trade and Industry, Yasutoshi Nishimura, mentioned that the U.S. government included the 'Arctic 2' LNG development project in Russia, involving Japanese companies, in additional sanctions, stating that 'a certain degree of impact on the project is unavoidable.'

Asahi Kasei downwardly revised their operating profit for this fiscal year by 19%.
$Asahi Kasei (3407.JP)$[TSE P] announced the earnings at noon on November 7th (12:30). Consolidated operating profit for the cumulative second quarter of the fiscal year ending March 2024 (April-September) dropped by 39.8% compared to the same period last year, down to 52 billion yen.

Source: Bloomberg, Nikkei, MINKABU, Traders Web