ADR (American Depositary Receipt) Japanese stocks, compared to the Tokyo Stock Exchange (converted at 1 dollar = 144.28 yen), were mainly sold off, with Yucho Bank <7182>, Nidec Corporation <6594>, Marubeni <8002>, Takeda Pharmaceuticals <4502>, Sony <6758>, Denso <6902>, Fujifilm <4901> and others falling. The Chicago Nikkei 225 futures settlement price closed at 38,330 yen, down 80 yen from the Osaka daytime session.

The US stock market rebounded significantly. The Dow Jones Industrial Average closed at 41,175.08, up 462.30 points, and the Nasdaq closed at 17,877.79, up 258.44 points. This was driven by buying momentum as Federal Reserve Chairman Powell revealed a swift rate cut trajectory in his speech at the Jackson Hole Symposium, leading to expectations of a rate cut. After the opening, the market rose, spreading a sense of buying safety by dispelling uncertainty, and continued to show strong performance throughout the day, with the market increasing its gains towards the end.

In the New York foreign exchange market on the 23rd, the dollar-yen rate rose to 146.48 yen, then dropped to 144.05 yen, and closed at 144.39 yen. Federal Reserve Chairman Powell, at the Jackson Hole meeting, clarified that the time for a policy change has come, making it clear that a rate cut is imminent, and also did not rule out the possibility of a significant rate cut, further accelerating selling of the dollar, incorporating a rate cut in September. The euro-dollar rate rose from 1.1080 dollars to 1.1201 dollars and closed at 1.1193 dollars.

On the 23rd, NY crude oil futures for October continued to rise significantly (NYMEX crude oil October futures closing price: 74.83, up 1.82).

Top-performing ADR stocks (23rd):

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

<8830> Sumitomo Realty $17 4906 yen (+115 yen) 2.4% increase

<4755> Rakuten $6.7 967 yen (+20.6 yen) 2.18% increase

<6178> Japan Post $10 1443 yen (30.5 yen) +2.16%

<9503> Kansai Electric Power $9 2597 yen (55 yen) +2.16%

<8309> Mitsui Sumitomo Trust Holdings $5.18 3735 yen (56 yen) +1.52%

ADR stocks with the largest declines (23rd):

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

<7182> Yucho Bank $8.4 1212 yen (-190 yen) -13.55%

<8750> Dai-ichi Life Holdings $25 3607 yen (-507 yen) -12.32%

<7259> Aisin Seiki $31.96 4611 yen (-391 yen) -7.82%

<9107> Kawasaki Kisen Kaisha $14.15 2042 yen (-$79) -3.72%

<8601> Daiwa Securities Group Inc. $7.36 1062 yen (-$35) -3.19%

Other ADR stocks (23rd):

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

<2914> Japan Tobacco Inc. $14.56 4201 yen (-$17)

<3382> Seven & I Holdings Co Ltd $14.12 2037 yen (-$7.5)

<4063> Shin-Etsu Chemical Co Ltd $22.17 6397 yen (+$5)

<4502> Takeda Pharmaceuticals Co Ltd $15.08 4351 yen (-$40)

<4519> Chugai Pharmaceutical $24.98 7208 yen (-$12)

<4543> Terumo $19.44 2805 yen (+5.5 yen)

<4568> Daiichi Sankyo $41.26 5953 yen (-$2)

<4661> Oriental Land $28.01 4041 yen (+11 yen)

<4901> Fujifilm $13 3751 yen (-$19)

<5108> Bridgestone Corporation Unsponsored ADR $20.08 5794 yen (-$6)

<6098> Root Inc $12.28 8859 yen (+31 yen)

<6146> Disco $30.1 43428 yen (+188 yen)

<6178> Japan Post 10 dollars 1443 yen (30.5 yen)

<6201> Toyota Industries 79.24 dollars 11433 yen (-47 yen)

<6273> SMC 23.5 dollars 67812 yen (22 yen)

<6301> Komatsu 28.23 dollars 4073 yen (-3 yen)

<6367> Daikin Industries 12.52 dollars 18064 yen (-36 yen)

<6501> Hitachi 47.85 dollars 3452 yen (-9 yen)

<6503> Mitsubishi Electric 32.35 dollars 2334 yen (-6 yen)

<6594> Nidec 10.58 dollars 6106 yen (-67 yen)

<6702> Fujitsu $17.72 2557 yen (-7 yen)

<6723> Renesas $8.52 2459 yen (-2.5 yen)

<6758> Sony $92.39 13330 yen (-80 yen)

<6857> Advantest $44.4 6406 yen (24 yen)

<6902> Denso $15.64 2257 yen (-12.5 yen)

<6954> Fanuc $14.73 4250 yen (-7 yen)

<6981> Murata Manufacturing $10.07 2906 yen (-11.5 yen)

<7182> Japan Post Bank $8.4 1212 yen (-190 yen)

<7203> Toyota Motor $185.09 2670 yen (-$12)

<7267> Honda Motor $32.69 1572 yen (-$6)

<7741> HOYA $142.88 20615 yen ($10)

<7751> Canon Inc-Spons ADR $35.09 5063 yen (-$13)

<7974> Nintendo Co Ltd $14.22 8207 yen (-$18)

<8001> Itochu Corporation $99.31 7164 yen ($54)

<8002> Marubeni Corporation $168.98 2438 yen (-$22.5)

<8031> Mitsui & Co Ltd $419.14 3024 yen ($5)

<8035> Tokyo Electric Corp. $94.84 27367 yen (262 yen)

<8053> Sumitomo Corporation $23.45 3383 yen (10 yen)

<8058> Mitsubishi Corporation $20.73 2991 yen (20 yen)

<8306> MUFG $10.63 1534 yen (9 yen)

<8316> SMFG $13.79 9948 yen (59 yen)

<8411> Mizuho Financial Group $4.29 3095 yen (20 yen)

<8591> Orix Corporation $123.75 3571 yen (-3 yen)

<8725> MS&AD Insurance Holdings $22.85 3297 yen (-3 yen)

<8766> Tokyo Marine HD $37.71 5441 yen (-$3)

<8801> Mitsui Fudosan $31.5 1515 yen (+$9)

<9432> NTT $26.42 152 yen ($0)

<9433> KDDI $16.58 4783 yen (-$9)

<9983> Fast Retailing $31.73 45780 yen (+$90)

<9984> SoftBank G $29.65 8556 yen (+$82)