Nikkei Average Updates to Record High, Amid Expectations for US Rate Cuts and Weaker Yen - Export-Related and Financial Stocks Gain
Nikkei Average Updates to Record High, Amid Expectations for US Rate Cuts and Weaker Yen - Export-Related and Financial Stocks Gain
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On the 21st, the Tokyo stock market experienced a notable extension of its upward trend, with the Nikkei Stock Average reaching a new all-time high during the session. This surge in buying momentum was encouraged by the Federal Open Market Committee's (FOMC) decision to stick with its earlier projection of implementing three rate cuts in 2024.
21日，东京股市的上涨趋势显著延续，日经平均指数在该时段创下历史新高。联邦公开市场委员会（FOMC）决定坚持其先前关于在2024年实施三次降息的预测，这鼓励了购买势头的激增。
The Bank of Japan's continued easing policy, even after the removal of negative interest rates, has contributed to a depreciation of the yen, benefiting export-driven sectors, particularly the automotive industry, along with semiconductor and financial sectors, including insurance and banking, all of which have seen their values rise.
即使取消了负利率，日本央行的持续宽松政策也导致了日元贬值，使出口驱动型行业，尤其是汽车行业，以及包括保险和银行在内的半导体和金融行业受益，所有这些行业的价值均有所上涨。
However, the stock market's momentum faced temporary hurdles as the yen's decline halted following remarks by BOJ Governor Kazuo Ueda, who indicated in a parliamentary statement that the expected inflation rate is on a path towards reaching 2%, impacting the pace of gains in the stock index.
但是，日本央行行长上田和夫发表讲话后，日元停止下跌，股市的势头面临暂时的障碍。上田和夫在一份议会声明中表示，预期的通货膨胀率有望达到2％，这影响了股指的上涨步伐。
The depreciation of the yen to the 151 level has spurred interest in export-oriented stocks, driven by Japan's low-interest-rate policy aimed at combating negative real wages and supporting economic growth. Market experts like Naoki Fujiwara of Shinkin Asset Management and Takashi Ito of Nomura Securities anticipate this monetary stance to continue benefiting Japanese equities, especially with the Bank of Japan's (BoJ) reluctance to implement sudden interest rate hikes. This view is reinforced by the Federal Open Market Committee's (FOMC) recent economic outlook upgrade, which left the crucial interest rate projections largely unchanged, easing market anxieties.
在日本旨在打击负实际工资和支持经济增长的低利率政策的推动下，日元贬值至151水平刺激了人们对出口导向型股票的兴趣。信金资产管理公司的藤原直树和野村证券的伊藤隆史等市场专家预计，这种货币立场将继续使日本股市受益，尤其是在日本银行（BoJ）不愿实施突然加息的情况下。联邦公开市场委员会（FOMC）最近的经济前景升级强化了这一观点，这使关键的利率预测基本保持不变，缓解了市场的焦虑。
On the Tokyo Stock Exchange, a majority of sectors have experienced growth, led notably by the Pulp & Paper industry, while Marine Transportation saw a decline. The broader market trends show a promising upswing, with the TOPIX index up by 18% year-to-date and the MSCI Asia Pacific Index increasing by 5%. This positive sentiment is reflected in the valuation of TOPIX constituents, which are currently trading at 16 times their expected earnings for the next year, indicating robust investor confidence in the resilience and growth potential of Japanese stocks.
在东京证券交易所，大多数板块都出现了增长，主要是纸浆和造纸行业带动，而海运则出现了下滑。总体市场趋势显示出令人鼓舞的上升趋势，东证指数今年迄今上涨了18％，摩根士丹利资本国际亚太指数上涨了5％。这种积极情绪反映在东证成分股的估值上，东证成分股目前的交易价格是明年预期收益的16倍，这表明投资者对日本股票的弹性和增长潜力充满信心。