Tokyo Market Summary: The ceiling sign “Evening Star” lights up on the Nikkei Average 439 yen depreciation chart and the yen is high for the first time in a month and a half

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The ceiling sign “Evening Star” lights up on the Nikkei Average Continued Fall Chart
The Nikkei Stock Average continues to fall. After the high price was updated for 3 consecutive business days in mid-July, it plummeted, and two sales signs called “Evening Star” and “Mikawa (Sansen)” appeared simultaneously on the chart. The reason for the continued decline was speculation about the re-election of former President Trump in the US presidential election, but chart signatures could self-realistically cause investors' risk appetite attitudes to retreat. Will market sentiment improve? The earnings forecast for the fiscal year ending 2025/3 was revised upward $Nidec(6594.JP)$Starting with this week, financial results announcements for companies for the fiscal year ending March 31, which will be in full swing, are likely to influence the outlook for Japanese stocks.

The complete depreciation of the yen seems to be a turning point in Japan-US monetary policy at 154 yen 60 sen
The pressure to sell yen has come to an end. In the Tokyo market on the 24th, the exchange rate of yen temporarily rose to the 60 yen range of 1 dollar = 154 yen against the dollar. From a situation where it was completely depreciated against a wide range of currencies, the appreciation of the yen progressed against the euro and the British pound. This is because the view that the turning point in Japan-US monetary policy is near has intensified, and there has been a movement to review yen sales focusing on interest rate differences.

The stock price increase rate of companies with financial results for the fiscal year ending February is at the top of department stores, etc.
The financial results for the fiscal year ending 2024/3-5 for companies with financial results for the fiscal year ending February fiscal year ended have been completed. When stocks that raised market evaluations were investigated, department stores that benefited from the expansion of inbound (foreign visitors to Japan) demand due to the depreciation of the yen, and restaurant companies whose profitability improved due to the rise in customer unit prices ranked high.

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Chinese “students” who fanged Nippon Steel put an end to half a century of love and hate
$Nippon Steel(5401.JP)$will withdraw from the Chinese joint venture with Baoshan Steel, the world's largest steel company and under the umbrella of China Baowu Steel Group. Takarayama was born under the full cooperation of Nippon Steel as a project symbolizing the friendship between Japan and China when Japan-China relations were normalized in 1972. Their positions have changed drastically over the course of half a century, but nervous warfare has been waged throughout the ages. If we search for the reason for the lack of work at this timing, the ambition of Nippon Steel to once again seize hegemony in the global steel industry comes to light.

Toyota turned down the market, their holdings were dissolved due to the company stock TOB, and the appreciation of the yen progressed even though it accelerated, putting a burden on automobile stocks ◇
$Toyota Motor(7203.JP)$It is a development where it sinks into the back field. After the transaction ended on the 23rd, it was announced that the company stock TOB (public tender offer) will be implemented. It responds to sales intentions of major non-life insurance companies, megabanks, etc. Although purchases were gathered from the view that capital efficiency would improve due to the elimination of holdings, the dollar depreciation and appreciation of the yen progressed at a rapid pace in the foreign exchange market, up to 1 dollar = 154 yen. It seems that they are now being pushed by sales from investors who accepted that the profit boosting effect due to the depreciation of the yen would diminish.

Mitsubishi's own stock depreciated by over 10% at one point, and “profit declined even if yen depreciation was taken into account” in the April-6 fiscal year
$Mitsubishi Motors(7211.JP)$The decline continued, and it fell to 421 yen, which was over 10% cheaper at one point. Operating profit fell 21.3% from the same period last year to 35.5 billion yen in the consolidated financial results for the fiscal year ending April to June 24 announced on the 23rd, which is disgusting. In the market, “a boosting effect due to the depreciation of the yen was expected, but profit declined even when the exchange rate was taken into account.

WTI prices fell due to expectations of easing tension in the Middle East situation, where INPEX and petroleum resources are cheap ◇
$Inpex(1605.JP)$Ya $Japan Petroleum Exploration(1662.JP)$is cheap. The US crude oil futures exchange rate on the 23rd fell to 1 barrel = 76.96 dollars, 1.44 dollars lower than the previous day for the September term of WTI (West Texas Intermediate), and it was sold to a low price range for the first time in about a month and a half. Expectations are rising to ease the tension in the Middle East situation.

Furukawa Battery stock is 22% super high and the price increase rate is at the top, leading to a TOB price of 1400 yen
Leading lead-acid battery $Furukawa Battery(6937.JP)$There was a sharp rebound, and it rose to 1401 yen, which was 22.6% higher at one point. As of 10:31 a.m., it has remained 21% super high, and the price increase rate is at the top of the Prime market. The day before, it was announced that investment funds Advantage Partners (Tokyo/ Minato-ku) etc. will carry out a public tender offer (TOB), and the stock price is moving towards the TOB price of 1400 yen per share.