Tokyo Market Summary: Finance Minister Suzuki says “the level is not a criterion” due to the continued fall of the Nikkei average and the depreciation of the yen

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●The Nikkei Stock Average ended at 31237.94 yen, 521.94 yen lower than the previous business day
● Finance Minister Suzuki assesses fluctuation range from “perfect response” level of yen depreciation
● Can the Taylor Rule be an effective clue during the Bank of Japan negative interest rate cancellation period
● Takeda is clueless and cautious due to the discontinuation of sales of lung cancer drugs in the US
● Rakuten Group - Reduction in decline Ministry of Internal Affairs and Communications platinum band assigned to Rakuten
● Attention to the handle: $Takeda Pharmaceutical(4502.JP)$、 $Inpex(1605.JP)$、 $Rakuten Group(4755.JP)$、 $Sumitomo Mitsui Financial Group(8316.JP)$、 $Advantest(6857.JP)$etc
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Market Overview
Today's Nikkei Stock Average closed at 31237.94 yen, 521.94 yen lower than the previous business day, and the Tokyo Stock Price Index (TOPIX) fell 38.97 points to 2275.47.

Top news
Finance Minister Suzuki assesses fluctuation range from “perfect response” level of yen depreciation
Finance Minister Suzuki Shunichi was asked about exchange intervention due to the progress of the depreciation of the yen at the press conference after the cabinet meeting on the 3rd, and stated that “we will continue to take thorough measures with a high sense of tension.” “The standard itself is not a criterion for judgment. It's just a matter of fluctuation rate,” he also pointed out.

Can the Taylor Rule be an effective clue during the Bank of Japan negative interest rate cancellation period
If Bank of Japan Governor Ueda Kazuo applies the same rules quoted when he voted against canceling zero interest rates over 20 years ago, there is a high possibility that the world's last negative interest rate policy will be lifted sooner or later. Mr. Ueda explained the reason why he did not agree with the cancellation of zero interest rates at the August 2000 monetary policy meeting when he was a member of the Bank of Japan deliberation committee, using the Taylor Rule.

10-year government bond surface interest rate raised to 0.8% high level for the first time in 10 years
On the 3rd, the Ministry of Finance raised the surface interest rate, which indicates the interest rate for interest payments paid to buyers every year, from 0.8% and 0.4% until September in a bid for 10-year government bonds (372 bonds) issued in October. High level for the first time in 10 years since 2013/10.

Notable stocks
Takeda is dull and cautious due to the discontinuation of sales of lung cancer drugs in the US
$Takeda Pharmaceutical(4502.JP)$It's not bright. On the 2nd US time, it was announced that sales of the lung cancer treatment drug “EXKIVITY (generic name mobosertinib)” in the United States will be voluntarily discontinued. As for the earnings forecast for the fiscal year ending March 24, it is said that the current impact amount will continue to be scrutinized and appropriately reviewed as necessary.

INPEX plummeted by over 7% at one point, profit determination sales increase due to falling crude oil prices
$Inpex(1605.JP)$It continued to drop drastically for 3 days. The stock price temporarily plummeted by just over 7% compared to the previous day. $Japan Petroleum Exploration(1662.JP)$It also continued to fall for 3 days. The US crude oil futures exchange rate on the 2nd fell to 88.82 dollars per barrel, 1.97 dollars lower than the previous weekend for the November term of WTI (West Texas Intermediate).

Rakuten Group - Reduced decline Ministry of Internal Affairs and Communications platinum band assigned to Rakuten
$Rakuten Group(4755.JP)$The range of decline has been reduced. The Ministry of Internal Affairs and Communications announced on the 3rd that it has accepted applications requesting allocations from Rakuten Mobile, which is under the umbrella of the company. According to the Mainichi Shimbun report on the same day, it is expected that it will be assigned to the company after an examination by the Ministry of Internal Affairs and Communications and consultation with the Radio Control Council scheduled to be held on the 23rd of this month.

Sumitomo Mitsui receives 100 billion yen in insurance claims for Russian aircraft leasing
$Sumitomo Mitsui Financial Group(8316.JP)$SMBC Aviation Capital (AC), an aircraft leasing company invested by (FG), announced on the 3rd that it has received 710 million dollars (about 100 billion yen) of insurance claims for some of the aircraft leased to Russian airlines.

Strong, such as Ad Test, etc., and strong as the main semiconductor stocks related to generation AI following NVIDIA stocks
$Advantest(6857.JP)$In addition to showing strong price movements amid a general decline in the market, $Disco(6146.JP)$They are also selling around the closing price the day before. The Nikkei Average showed a decline of close to 500 yen at one time, but the main semiconductor stocks are generally in a situation where solidity has been observed.

Distributors: Bloomberg, Nihon Keizai Shimbun, Traders Web, MINKABU