日経平均採用銘柄では、東京エレクトロンのほか、ソシオネクスト＜6526＞、レーザーテック＜6920＞、ルネサスエレクトロニクス＜6723＞など半導体株の多くが買われた。また、黒鉛電極の販売価格引き上げ発表を受けて、レゾナック・ホールディングス＜4004＞が買われたほか、東海カーボン＜5301＞にも思惑的な買いが向かった。このほか、川崎重工＜7012＞、村田製作＜6981＞、太陽誘電＜6976＞、古河電工＜5801＞、SUMCO＜3436＞、電通グループ＜4324＞などが上昇した。The Nikkei Average rose sharply and continued to rise for three consecutive days. It ended the morning session of trading at 37,935.58 yen (+780.25 yen or +2.10%) with an approximate trading volume of 0.8 billion shares.
The U.S. stock market rebounded significantly on the 19th. The Dow Jones Industrial Average closed at 42,025.19 (+522.09 points or +1.26%), the Nasdaq rose 440.68 points or +2.51% to 18,013.98, and the S&P 500 closed at 5,713.64 (+95.38 points or +1.70%). The weekly initial jobless claims fell to their lowest level in four months, easing concerns about a slowdown in the labor market, leading to a rise in stock prices after the opening. In addition, the Federal Open Market Committee's (FOMC) substantial interest rate cut has been successful in preventing a sharp economic downturn, leading to expectations of a soft landing and further gains. The high-tech sector also supported the market and extended its gains in the final stages of trading.
The Tokyo market started with a buying bias following the significant rebound in U.S. stocks. Semiconductor stocks, such as Tokyo Electron Ltd. and others, stood out due to the rise in U.S. high-tech stocks. The Nikkei average started at around 37,700 yen and expanded its gains to near 38,000 yen. It closed the morning session above the 25-day moving average (around 37,450 yen) and the 200-day moving average (around 37,620 yen).
Among the stocks included in the Nikkei Average, Tokyo Electron Ltd., Socionext Inc., Laser Tech Inc., and Renesas Electronics Corp. were among the many semiconductor stocks that were bought. In addition, Resonac Holdings Inc. received buying interest following the announcement of a price increase for graphite electrodes, and speculation-driven purchases were also seen in Tokai Carbon Co., Ltd. Other stocks that rose included Kawasaki Heavy Industries, Ltd., Murata Manufacturing Co., Ltd., TDK Corporation, Furukawa Electric Co., Ltd., SUMCO Corporation, and Dentsu Group Inc.
On the other hand, shares of private railways such as Keisei Electric Railway Co., Ltd., Odakyu Electric Railway Co., Ltd., and Tobu Railway Co., Ltd. were generally weak. Retail-related stocks such as Aeon Co., Ltd., Marui Group Co., Ltd., and J. Front Retailing Co., Ltd. were also low. Other stocks that declined included ZOZO Inc., Sumitomo Dainippon Pharma Co., Ltd., and Kyowa Kirin Co., Ltd.
In terms of industries, petroleum and coal products, electric machinery, nonferrous metals, glass and ceramics products, and banking all recorded gains. Only the land transportation and electric and gas industries saw a decline.
During lunchtime, the exchange rate remained around 142.50 yen per dollar. As of 11:40 a.m., the results of the Bank of Japan's monetary policy meeting, which is currently being held, have not been announced, but the market consensus is that the policy will be maintained. Therefore, the movement in the foreign exchange and stock markets after the announcement is expected to be limited. Market attention is focused on the press conference by Bank of Japan Governor Haruhiko Kuroda, which will begin at 3:30 p.m., so there is not likely to be significant movement in the Tokyo market in the afternoon. The Nikkei Average is likely to experience consolidation in the high price range.
