[Nikkei Stock Average and TOPIX (Table)]
Nikkei Average; 37,847.85; +459.23 TOPIX; 2,668.09; +26.95 On the 20th, the Nikkei average rebounded and started trading at 37,847.85 yen, up 459.23 yen. On the previous day, the U.S. stock market continued to rise, with the Dow Jones rising 236.77 dollars to 40,896.53 dollars and the Nasdaq rising 245.05 points to 17,876.77 dollars. The economy was expected to avoid a rapid slowdown and achieve a soft landing, so it was bought after the opening. In addition, Daly, Kashkari, and Gouldsbee, the heads of the San Francisco, Minneapolis, and Chicago Feds, respectively, all expressed a positive attitude toward a rate cut in September in interviews over the weekend, supporting buying throughout the day in anticipation of a gradual rate cut. The semiconductor sector supported the market and expanded its gains in the final stage.
The Tokyo stock market opened with buying. The rise of major indices in the US stock market on the previous day supported Tokyo stock prices. In particular, the Nasdaq Composite Index, which has a high proportion of high-tech stocks, rose 1.39%, and the Philadelphia Semiconductor Index (SOX Index), which consists mainly of major semiconductor-related stocks, rose 1.86%, a greater increase than the Dow Jones (0.58% increase), and became a factor supporting the stock prices of high-tech and semiconductor-related stocks on the Tokyo market. In addition, the forex market saw a level of yen depreciation and dollar appreciation, with 1 dollar = 146.60 yen, about 1.30 yen lower than around 3:00 p.m. yesterday, a comforting factor for the Tokyo market. On the other hand, this week, on the 23rd, Bank of Japan Governor Ueda is expected to explain the reactions of interest rate hikes and the stock market during the closed-session review of both houses of parliament. Also, on the 23rd, Powell, chairman of the Federal Reserve Board (FRB), is scheduled to speak at the International Symposium on Economic Issues, the Jackson Hole Conference. Some investors held back from actively buying and want to assess these contents, but buying was dominant in the initial stage.
[Sector]: Mining, insurance, banking, transportation equipment, wholesale trade, etc. are the top decliners, while pharmaceuticals, precision instruments, and electric and gas industries rose. The turnover of the Tokyo Stock Exchange Prime includes Laser Tech <6920>, Mirrors HD <8897>, Kawasaki Shipbuilding <9107>, Dai-ichi Life HD <8750>, Recruit HD <6098>, Marubeni <8002>, Mitsui & Co. <8031>, Honda <7267>, SMC <6273>, INPEX <1605>, Nissan Motor <7201>, and Nomura <8604>, all of which fell. Meanwhile, Nitori Holdings <9843>, Rakuten Group <4755>, and Daiichi Sankyo <4568>, among others, have risen.
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Sector wise, nonferrous metals, insurance, transportation equipment, securities futures and options, electrical and gas industries, etc. posted higher price increases, while retail trade declined. Among the trading values of Tokyo Prime, Mercari <4385>, TEPCO HD<9501>, Laser Tech <6920>, Fujikura <5803>, Kao <4452>, Advantest <6857>, TDK <8035>, SoftbankG <9984>, Keyence <6861>, Asics <7936>, Tokio Marine <8766>, Daikin <6367>, TOWA <6315>, Disco <6146>, etc. rose. On the other hand, Seven & i HD <3382>, Pan Pacific HD <7532>, Mitsui Bussan <8031>, Hitachi <6501>, Nintendo <7974>, Mitsui E&S <7003>, Shinko Electric Industries <6967>, etc. declined.