I would like to pay attention to the following 3 points in the late-day transaction on the 8th.

・The Nikkei Average continued to rise for 3 days, leading to rough price movements turning back from a decline of over 800 yen

・The dollar and yen reversed, and Japanese stocks rose

・The top contributor to price increases is Lasertech ＜6920＞, and the same 2nd place is Fast Lite ＜9983＞

■The Nikkei Average continued to rise for 3 days, leading to rough price movements turning back from a decline of over 800 yen

The Nikkei Average continued to rise for 3 days. The front-end transaction was closed at 35148.10 yen (estimated volume 1.2 billion shares), which was 58.48 yen higher (+ 0.17%) compared to the previous day.

The US stock market fell on the 7th. The Dow average closed at 38763.45 dollars (-0.60%), the NASDAQ depreciated 171.05 points (-1.05%) at 16195.80, and the S&P 500 fell by 40.53 points (-0.77%) at 5199.50. Buybacks continued due to easing concerns about the recession, and after getting close, they rose. After a round of buybacks, sales were rekindled due to a deep-seated sense of uncertainty about the economy, and higher prices were suppressed. Towards the end, sales that were wary of the weak results of 10-year bond bidding intensified further, and the market price began to decline and ended.

The Tokyo market began trading with a strong selling advantage due to the fall in US stocks and the recent sharp rebound. After the donation, there was also a scene where the decline in the Nikkei Average widened to 34207.16 yen, but after one round of sales, the decline gradually narrowed. Since the exchange market and interest rate market have stabilized, etc., it seems that buybacks became dominant. Since the Nikkei Average was reversed over the previous closing, the price range of high prices was over 1000 yen, resulting in rough price movements today as well.

Among stocks adopted by the Nikkei Average, Lasertech ＜6920＞ became a stop-high based on financial results announcements and positive reports by securities companies, and Isuzu ＜7202＞ was drastically higher because the setting of financial results and company stock buybacks was viewed as material. Additionally, Nitori Holdings ＜9843＞, Asahi Group ＜2502＞, Sumitomo Pharma ＜4506＞, Idemitsu Kosan ＜5019＞, Teijin ＜3401＞, and Keisei Electric Railway ＜9009＞ were bought.

Meanwhile, SUMCO (3436), which announced that consolidated net profit for the January-September fiscal year was expected to decrease 73% from the same period last year, plummeted and temporarily stopped depreciating. Also, Shiseido ＜4911＞ also stopped weakening because net profit for the January-June fiscal year decreased 99% from the same period last year. Additionally, Taiyo Yuden ＜6976＞, Sumitomo Mining ＜5713＞, Sumitomo Heavy Industries ＜6302＞, Advantest ＜6857＞, SoftBank Group ＜9984＞, and Keyence ＜6861＞ declined.

By industry, while mining, petroleum and coal products, insurance, rubber products, foodstuffs, etc. rose, metal products, non-ferrous metals, wholesale businesses, securities and commodity futures trading, and other financial industries declined.

The 10-year government bond yield, which is an indicator of long-term interest rates, has risen slightly to 0.895%. After falling to 0.750% on the 5th, it was volatile, but calm was finally regained. Market turmoil since 7/31 has calmed down in response to the pigeon faction statement made by Uchida Shinichi Bank Vice President yesterday. The Bank of Japan switched from the “hawk faction” to the “pigeon faction” in just 1 week, but there is a possibility that the view that “the virtuous cycle of prices will continue to push up prices in the future, and private consumption will remain steady” will also change in the future. Since concerns about Japanese stock sales by foreign investors due to a decline in trust in the Bank of Japan have not been dispelled, it seems that rough price movements with large price ranges led by futures will continue for a while. There will also be rough price movements in the Tokyo market in the aftermath.

■The dollar and yen reversed, and Japanese stocks rose

The dollar and yen were reversed at the Tokyo market on the morning of the 8th. The background of the interest rate hike was clarified in the summary of the proceedings of the Bank of Japan monetary policy meeting, and the price was temporarily lowered to 145 yen 44 yen ahead of yen purchases. However, after that, when the Nikkei Stock Average turned positive, yen sales strengthened, and it rose to 146 yen 80 yen.

The trading range up to this point is 145 yen 44 yen to 146 yen 87 sen for the dollar and yen, 158 yen 96 yen to 160 yen 51 sen for the euro and yen, and 1.0921 dollars to 1.0935 dollars for the euro dollar.

■Backstage check stocks

・6 stocks, such as Japan Information Create ＜4054＞ and Infonet ＜4444＞, etc., are stop-high

*Includes temporary stop height (sign value)

・The top contributor to price increases is Lasertech ＜6920＞, and the same 2nd place is Fast Lite ＜9983＞

■Economic indicators and statements from key figures

[Economic indicators]

・Daily/June current account balance: +1 trillion533.5 billion yen (forecast, May: +2 trillion849.9 billion yen)

[Remarks by VIPs]

・Finance Minister Suzuki

“Specific methods of monetary policy should be left to the Bank of Japan”

“The strong results of the Spring Battle are gradually being reflected in wages”

“I will refrain from commenting on Bank of Japan Vice Governor Uchida”

・Key Opinions at the Bank of Japan Monetary Policy Meeting (7/30/31)

“From the viewpoint of achieving price stability targets, it is appropriate to raise policy interest rates and adjust the degree of mitigation.”

“The current Japanese economy is good to the extent that extremely low policy interest rates can be raised somewhat”

“Even if interest rates are raised, the nominal interest rate of 0.25% will continue to be at an extremely accommodative level”

“Financial normalization must not become a self-objective, and it is necessary to carefully proceed with future policy management”

＜Domestic＞

・ 14:00 July Business Watcher Survey and Current Status Judgment (Forecast: 47.5, June: 47.0)

＜Overseas＞

・Nothing in particular