ADRs of Japanese stocks, such as Yucho Bank <7182>, Toyota Motor <7203>, Renesas <6723>, Murata Manufacturing <6981>, Takeda Pharmaceutical <4502>, Fujifilm <4901>, and Daikin Industries <6367>, fell compared to the Tokyo Stock Exchange (at a rate of 1 dollar = 145.18 yen). Selling pressure prevailed overall. The Chicago Nikkei 225 futures settlement price was 37,885 yen, down 85 yen from the Osaka daytime session.

The U.S. stock market rebounded. The Dow Jones Average closed at 40,890.49, up 55.52 points, and the Nasdaq closed at 17,918.99, up 102.05 points. Expectations of rate cuts were bolstered by a significant downward revision in the number of employees for the year through March, resulting in buying after the opening. Some positive earnings reports from retailers and buying of high-tech stocks due to lower long-term interest rates supported the market, which remained firm throughout the day. The market temporarily stagnated due to adjustment selling ahead of Chairman Powell's speech, but it began rising again when the minutes of the Federal Open Market Committee (FOMC) meeting for the July session, released by the Federal Reserve Board (FRB), suggested a rate cut in September. It closed with gains.

In the New York foreign exchange market on the 21st, the dollar-yen rose to 146.77 yen before falling to 144.46 yen temporarily, and closed at 145.29 yen. The upward revision in the preliminary value of the growth criteria for the number of annual employees until March, announced by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor, was within expectations, and the increase in long-term interest rates turned the dollar into buying. Subsequently, the successful results of the 20-year bond auction and the confirmation of a slowdown in the labor market, as well as the minutes of the Federal Open Market Committee (FOMC) meeting for the July session announced by the Federal Reserve Board (FRB), which indicated that a majority of members believed that a rate cut in September was highly likely, along with the revelation that several officials supported a 0.25% rate cut at the July meeting, accelerated selling of the dollar in anticipation of a rate cut. The euro-dollar fell to 1.1100 dollars before rising to 1.1174 dollars and closed at 1.1151 dollars.

NYMEX crude oil futures for October were weakly traded (NYMEX crude oil October futures settled at $71.93, down $1.24).

Top performing ADR stocks on the 21st:

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<5020> ENEOS $10.66, 774 yen (up 35.3 yen), up 4.78%

<8830> Sumitomo Realty $17, 4,936 yen (up 177 yen), up 3.72%

<6178> Japan Post $10 1452 yen ($49) +3.49%

<2801> Kikkoman $24 1742 yen ($51) +3.02%

<4689> LINE Yahoo $5.35 388 yen ($9.3) +2.46%

Bottom ADR Decline (21st)

Stock code, stock name, closing price (dollars), yen equivalent price, Japanese closing price/compared to previous day, change rate

<7182> Japan Post Bank $8.45 1227 yen (-176.5 yen) -12.58%

<8750> Dai-ichi Life HD $24.6 3571 yen (-488 yen) -12.02%

<7259> Aisin Seiki $31.96 4640 yen (-357 yen) -7.14%

root inc 9503 kansai electrical utilities 8.21 dollars 2384 yen (-108 yen) -4.33%

sony group corp 6752 panasonic 7.77 dollars 1128 yen (-32 yen) -2.76%

■ Other ADR stocks (21st)

Code name closing price (dollar) Japanese yen conversion price Japan closing price comparison

japan tobacco inc 2914 14.3 dollars 4152 yen (45 yen)

sevens & i holdings co. ltd 3382 14.01 dollars 2034 yen (-10.5 yen)

shin-etsu chemicals 4063 21.03 dollars 6106 yen (-2 yen)

takeda pharmaceuticals sp adr 4502 14.94 dollars 4338 yen (-31 yen)

<4519> Chugai Pharmaceutical $23.53 6832 yen (-$16)

<4543> Terumo $19.05 2766 yen (+$6)

<4568> Daiichi Sankyo $40.33 5855 yen (+$28)

<4661> Orient Land $27.91 4052 yen (-$7)

<4901> Fujifilm $12.61 3661 yen (-$24)

<5108> Bridgestone $20.12 5842 yen (-$31)

<6098> Recruit Holdings $11.85 8605 yen (-$22)

<6146> DISCO $30.6 44,425 yen (-$145)

<6178> Japan Post $10 1,452 yen (¥49)

<6201> Toyoda Automatic Loom Works $78.61 11,413 yen (-¥57)

<6273> SMC $23.3 67,654 yen (-¥286)

<6301> Komatsu $28.41 4,125 yen (-¥7)

<6367> Daikin Industries $12.11 17,581 yen (-¥114)

<6501> Hitachi $48.76 3,539 yen (-¥5)

<6503> Mitsubishi Electric $32.38 2,350 yen (-¥9)

<6594> Nidec $10.64 6,179 yen (¥11)

<6702> Fujitsu $17.46 2535 yen (-$2)

<6723> Renesas $8.37 2430 yen (-$18)

<6758> Sony $92.79 13471 yen (+$86)

<6857> Advantest $45.2 6562 yen (+$32)

<6902> Denso $15.58 2262 yen (-$13)

<6954> Fanuc $14.49 4207 yen (-$12)

<6981> Murata Manufacturing $10.01 2907 yen (-$21)

<7182> Japan Post Bank $8.45 1227 yen (-$176.5)

Toyota Motor is at $183.62 and ¥2666 (-¥26.5).

Honda Motor is at $32.17 and ¥1557 (-¥5).

HOYA is at $136.84 and ¥19866 (+11).

Canon Inc-spons ADR is at $34.36 and ¥4988 (+2).

Nintendo Co Ltd is at $14.22 and ¥8258 (+5).

ITOCHU is at $97.57 and ¥7083 (-7).

Marubeni Corp. is at $169.69 and ¥2464 (+2).

Mitsui & Co is at $415.4 and ¥3015 (-5).

<8035> Tokyo Electric $96.65 28063 yen (-63 yen)

<8053> Sumitomo Trading $23.07 3349 yen (-7 yen)

<8058> Mitsubishi Corp $20.7 3005 yen (-13 yen)

<8306> Mitsubishi UFJ FG $10.55 1532 yen (-6 yen)

<8316> Mitsui Sumitomo FG $13.62 9887 yen (-11 yen)

<8411> Mizuho FG $4.25 3085 yen (16 yen)

<8591> Orix $119.96 3483 yen (-3 yen)

<8725> MS&AD Insurance Holdings $23 3339 yen (-6 yen)

<8766> Tokyo Marine Holdings at $37.95, ¥5510 (+¥31)

<8801> Mitsui Fudosan at $31, ¥1500 (-¥1.5)

<9432> NTT at $26.12, ¥152 (+¥0)

<9433> KDDI at $16.39, ¥4759 (-¥15)

<9983> Fast Retailing at $30.23, ¥43888 (-¥62)

<9984> SoftBank Group at $29.25, ¥8493 (-¥36)