Tokyo Market Summary: The depreciation of the Nikkei Average of 290 yen and the current depreciation of the yen strengthen the possibility of interest rate hikes in July

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OpenAI, Microsoft expand investment in Japan, and economic security are the tailwind
Overseas technology companies are strengthening their strategies focusing on Japan. US Open AI, which developed the interactive AI (artificial intelligence) “Chat (chat) GPT,” launched its first Asian base in Japan, and the US $Microsoft(MSFT.US)$will expand domestic data centers. Japan has a fixed market and industrial agglomeration, and its importance in terms of economic security also supports investment by various companies.

The “perfect order” market, which promotes the depreciation of the yen, keeps a close eye on the chart
The depreciation of the yen and the appreciation of the dollar are unstoppable in the foreign exchange market. At the Tokyo market on the morning of the 15th, it hit a low for the first time in about 34 years since 1990/6, at around 1 dollar = 153 yen 74 yen. There are many materials that induce the resolution of yen sales holdings, such as exchange intervention by the Japanese currency authorities and the tense situation in the Middle East. However, in addition to the Japan-US interest rate difference, which has already opened wide, the dollar's bullish sign that lights up on the chart shows how difficult it is to reverse the trend.
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The current depreciation of the yen strengthens the possibility of interest rate hikes in July

Unease cannot be erased even in the midst of a soft landing in the global economy - are those attending the G20 meeting watching the market closely
If the global economy is moving towards a soft landing (soft landing), the process will be accompanied by a lot of anxiety. Global tension has intensified due to Iran's missile attack on Israel. Financial elites from around the world will gather at the spring meeting between the International Monetary Fund (IMF) and the World Bank and the 20 countries/regions (G20) finance ministers and central bank governors meetings to be held in Washington this week. Slowing growth, deep-seated inflation, high interest rates and debt levels, and geopolitical risks that upset markets such as Ukraine and Israel are expected to be on the agenda.

The crude oil exchange rate is in the middle of the 85 dollar range to determine Israel's response
Iran attacked mainland Israel with missiles and drones (drones). Concerns about a sharp rise in crude oil were intensifying around the world from the view that there was a risk that crude oil supply in the Middle East would be interrupted, but the market at the beginning of the week showed a calm reaction. North Sea Brent crude oil futures also rose 50 cents from the previous weekend to 91 dollars per barrel, but after that, growth was sluggish, and currently below 90 dollars.
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The stock market declined further due to the worsening situation in the Middle East

Signs of manufacturing recovery spread globally, led by the US and China - Japan's exports also improved
Assembly lines around the world have begun to regain their vitality, and the slump in the manufacturing industry that spanned several years is being reversed. The two largest economies in the world are leading the signs of recovery in the manufacturing industry. China's manufacturing industry is off to a strong start this year, leading to an upward revision of the economic growth outlook. Also, the March Manufacturing Comprehensive Business Condition Index announced by the U.S. Supply Management Association (ISM) was contrary to market expectations and showed an expansion of activity since September 2022. New orders and rising production indices contributed.

Featured stocks
Lasertech - Plummeting China is telling telecommunications companies to exchange foreign-made semiconductors
$Lasertec(6920.JP)$has plummeted. The US paper Wall Street Journal (WSJ) reported on the 12th that China has ordered telecommunications carriers such as China Mobile (China Mobile) to exchange foreign-made semiconductors used in core networks by 2027. In the US market on the 12th, $Intel(INTC.US)$Ya $Advanced Micro Devices(AMD.US)$Intel stocks depreciated 5% and AMD depreciated 4% from the view that there is a possibility that the like will be hit. Semiconductor-related sales are also being sold by this company and others in the Tokyo market.
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Advantest - sharp fall SOX index falls by over 3% bad material overlaps and sentiment worsens

Petroleum resource development, stock price high for the first time in 16 years due to heightened risk in the Middle East
$Japan Petroleum Exploration(1662.JP)$is a retrograde height. It rose to 7440 yen, which was 4.05% higher at one point, and hit a high for the first time in 16 years since 2008. At the New York Mercantile Exchange (NYMEX) on the 12th of last weekend, crude oil futures prices temporarily reached a high level for the first time in about 5 and a half months, and purchases are gathering due to speculation that profitability in petroleum-related businesses will improve. $Fuji Oil(5017.JP)$is also doing well.

NYK Line - rebound for the first time in 3 days, Iran attacked Israel for the first time and bought shipping stocks
$Nippon Yusen Kabushiki Kaisha(9101.JP)$rebounded for the first time in 3 days. The source is that Iran launched a large-scale attack using a large number of missiles and drones against Israel from the 13th to the 14th. There is a growing view that shipping market conditions will also be affected, such as making it difficult to pass through the Strait of Hormuz due to heightened geopolitical risks. While the overall market price was risk-off, shipping-related matters rose in a retrograde manner. $Mitsui O.S.K. Lines(9104.JP)$、 $Kawasaki Kisen Kaisha(9107.JP)$It's also expensive.

Ryohin Keikaku stock price falls after year-to-date high, leaving current fiscal year forecast unchanged
$Ryohin Keikaku(7453.JP)$Continued decline. It started with a rise in the morning, but it soon turned down, and there was a scene where 2395 yen, which was 4.10% lower at one point, was added. In the consolidated financial results for the fiscal year ending 2023/9/24 announced on the 12th, net profit was 15.7 billion yen, 2.1 times the same period last year. Immediately after the close, purchases that favored the drastic increase in profit in the first half took precedence, and although the year-to-date high price was updated to 2599 yen, profit based sales swelled because the full-year earnings forecast for the fiscal year ending 24/8 was left unchanged.

Astellas Pharma's stock price falls to a year-to-date low, and net profit for the previous fiscal year fell 97%
$Astellas Pharma(4503.JP)$Continued decline. The year-to-date low was updated. After the end of trading on the 12th of the previous weekend, it was announced that consolidated net profit for the fiscal year ending 2024/3 decreased 97% from the previous fiscal year to 3 billion yen. It was revised 55 billion yen downward from the previous forecast. It fell far below the 63.5 billion yen expected by the QUICK consensus (as of the 11th, 9 companies) of the market forecast average, and it was pushed by sales that disgusted the slump in business performance.