[Nikkei Stock Average TOPIX (table)]
Nikkei Average; 42343.72; +511.73
TOPIX; 2939.41; +30.21
[Snuggle Overview]
The Nikkei Average on the 11th rose 511.73 yen to 42343.72 yen for 3 days, and trading began. The US stock market rose on the 10th the day before. The Dow average closed at 39721.36 dollars, which rose by 429.39 dollars, and the Nasdaq closed at 18647.45, which was 218.16 points higher. Expectations of interest rate cuts, which received congressional testimony in the Senate of US Federal Reserve (Fed) Chairman Powell, rose after being close to it. Although the chairman did not clarify the timing even in his testimony in the House of Representatives, the market price remained steady throughout the day because it suggested that conditions for interest rate cuts were being prepared, and the range of increases expanded at the end of the game. The NASDAQ also supported the rise of Apple and NVIDIA, and hit record highs for 7 consecutive days.
Buying took precedence in the Tokyo stock market today. The three major indices (Dow Average, NASDAQ Composite Index, S&P 500) all rose by over 1% in the US stock market yesterday, and the Philadelphia Semiconductor Stock Index (SOX Index), which consists of major semiconductor-related stocks, rose 2.4% and rose drastically, which supported the stock prices of main stocks and semiconductor-related stocks in the Tokyo market. Also, there was a sense of security in the stock market that the yen exchange rate continued to remain stable at a depreciation of the yen and high level of the dollar, with 1 dollar = 161 yen 50 yen in the foreign exchange market. Meanwhile, the Nikkei Average continued to grow until yesterday, and since the 2-day increase exceeded 1000 yen, a sense of caution about short-term high prices intensified, and profit-taking sales were easy to come out. Also, since the US Consumer Price Index (CPI) for June and the US Wholesale Price Index (PPI) for June will be announced tonight in the US tomorrow evening, there was also a tendency to forego aggressive purchases in order to determine these, but buying was dominant in the contract stage. Note, according to the machine order statistics for May announced before the start of trading, the order amount (seasonally adjusted) for “private demand excluding ships and electricity,” which is a leading indicator of private capital investment, decreased 3.2% from the previous month. The median private sector forecast compiled by QUICK was up 0.9%. Also, according to the status (weekly) of external and internal securities sales agreements, etc. announced before the start of trading, overseas investors overbought domestic stocks for 2 consecutive weeks from 6/30 to 7/6. The overpurchase amount was 603.7 billion yen.
By sector, electrical equipment, precision instruments, non-ferrous metals, rubber products, pulp and paper, etc. are rising at a high rate of price increase, and the air transport industry is falling in price. Sumco ＜3436＞, Mitsubishi Electric ＜6503＞, Murata ＜6981＞, Sony G ＜6758＞, Renesas ＜6723＞, SoftBank G ＜9984＞, DISCO ＜6146 ＞, Nidec ＜6594＞, Daiichi Sankyo ＜4568＞, Daikin ＜6367＞, Mitsubishi ＜7211＞, Denso ＜6902＞, KOKUSAI ＜6525＞, etc. have risen. Meanwhile, Mercari ＜4385＞, Fujifilm ＜4901＞, Mitsubishi Heavy Industries ＜7011＞, Recruit HD ＜6098＞, etc. have declined.