[Nikkei Stock Average and TOPIX (Table)]
Nikkei average; 38278.18; +67.17
TOPIX; 2678.29; +6.89
[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.
On the 23rd, the Nikkei average continued to rise with an increase of 67.17 yen to start trading at 38278.18 yen. On the previous day, the US stock market fell. The Dow Average closed at 40712.78 yen, down 177.71 yen, and the Nasdaq closed at 17619.36, down 299.63 points. Weekly jobless claims did not surprise, and the rapid deterioration in the labor market's sense of caution receded, leading to a rise after the market opened. The number of existing home sales also exceeded expectations, and with the rise in long-term interest rates, selling shifted to high-tech stocks. Subsequently, concerns about profit-taking selling in anticipation of a speech by Federal Reserve Chairman Powell increased, and the market widened its decline towards the end.
Buying took precedence in the Tokyo stock market today. In the foreign exchange market, the dollar was around 146.30 yen, about 90 yen lower compared to around 3:00 p.m. yesterday, which supported stock prices, such as export-related stocks, in the Tokyo market. In addition, the Nikkei average yesterday exceeded the milestone of 38,000 yen and finished trading above the high after the sharp decline on August 5, indicating the strength of the market. On the other hand, the decline of major indices in the US stock market weighed on stock prices in Tokyo. In particular, the Nasdaq Composite Index, which has a high ratio of technology stocks, fell 1.67%, and the Philadelphia Semiconductor Index, which consists of major semiconductor-related stocks, fell 3.44％, compared to the Dow Average (down 0.43%), the decline rate was larger. This became a factor that contributed to the hesitancy of buying high-tech and semiconductor-related stocks in the Tokyo market. Also, today, Governor Kuroda's remarks during the interim inspection of the Diet and Federal Reserve Chairman Powell's speech at the Jackson Hole conference are scheduled, and some refrained from actively buying as they wanted to assess the content of these speeches, but buying was dominant at the opening stage. In addition, the National Consumer Price Index (CPI) for July, announced before the start of trading, rose 2.7% in the overall index excluding fresh food compared to the same month of the previous year. The median of market expectations compiled by QUICK was also a 2.7% increase.
In terms of sectors, mining, pharmaceuticals, warehouse transportation, other financing businesses, and oil & coal products have seen increases in value, while nonferrous metals, glass & ceramics products, and others have seen decreases in value.
In the top trading value of the Tokyo Stock Exchange Prime, IHI <7013>, Chugai Pharmaceutical <4519>, Asics <7936>, Recruit HD <6098>, JT <2914>, 7 & iHD <3382>, Fujifilm HD <4901>, Honda <7267>, Daiichi Sankyo <4568>, Keyence <6861>, Daikin <6367>, Mitsubishi UFJ <8306>, First Retail <9983>, NYK <9101>, and others have increased. On the other hand, Sakura <3778>, Mercari <4385>, Advantest <6857>, Nitori HD <9843>, KOKUSAI <6525>, SOCIÈTÉ NEXT <6526>, Laser Tech <6920>, Renesas <6723>, Fujikura <5803>, TOWA <6315>, Sumitomo Forestry <1911>, Kasumigaseki Capital <3498>, Disco <6146>, Higashi-Elec <8035>, and others have declined.