Japanese stocks of American Depositary Receipts (ADRs), compared to the Tokyo Stock Exchange (1 dollar equivalent to 143.57 yen), Mizuho Financial Group <8411>, Toyota Industries <6201>, Terumo <4543>, Hitachi Ltd <6501>, Tokio Marine Holdings <8766>, Sumitomo Corporation <8053>, and Mitsui & Co Ltd <8031> all rose, leading to a general buying preference. The Chicago Nikkei 225 futures settlement price closed at 38,115 yen, up 585 yen compared to Osaka daytime trading.

The US stock market rose, with the Dow Jones up 61.29 points to 42,124.65, and the Nasdaq up 25.95 points to 17,974.27 at the close of trading. Bought on expectations of additional interest rate cuts later this year, the market rose after the opening. Following better-than-expected September service sector PMI data, the market initially faltered with the rise in long-term interest rates, but hopes for a soft landing and comments from Federal Reserve Board (FRB) officials leaving the door open for significant additional rate cuts limited downward pressure. The market rebounded towards the end, maintaining a positive territory, with the Dow hitting record highs consecutively and closing.

In the New York foreign exchange market on the 23rd, the Dollar-Yen rate rose to 144.34 yen, then dropped to 143.28 yen before closing at 143.60 yen. The unexpected improvement in the August Chicago Fed National Activity Index and the better-than-expected preliminary value of September Service Sector PMI led to a rise in long-term interest rates and a predominance of Dollar buying. Subsequently, comments by Federal Reserve Board (FRB) officials mentioning additional interest rate cuts this year resulted in a reversal in long-term interest rates, causing a retreat in Dollar buying. The Euro-Dollar rose from 1.1108 dollars to 1.1144 dollars before closing at 1.1112 dollars.

NY Crude Oil futures for November weakened (NYMEX Crude Oil November futures closing price: 70.37, down 0.63).

Top-performing ADR stocks (23rd):

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

Aeon <8267>, $29.3, 4207 yen (199 yen), +4.97%

Nitto Denko <6988>, $44.51, 12781 yen (591 yen), +4.85%

<4307> Nomura Research Institute, $37.45, ¥5377 (¥212) +4.1%.

<8411> Mizuho Financial Group, $4.16, ¥2986 (¥95.5) +3.3%.

<8309> Sumitomo Trust Holdings, $4.98, ¥3575 (¥109) +3.14%.

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> Japan Post Bank, $8.15, ¥1170 (-¥152.5) -11.53%.

<8750> Dai-ichi Life Holdings, $23, ¥3302 (-¥339) -9.31%.

<9503> Kansai Electric Power, $7.58, ¥2177 (-¥172) -7.32%.

ENEOS at $10.21 and ¥733 (-¥55.9) -7.09%

Daiichi Sankyo at $33.48 and ¥4807 (-¥137) -2.77%

Other ADR stocks (23rd):

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

Japan Tobacco Inc at $14.32 and ¥4112 (+18)

Seven & i Holdings Co at $15.05 and ¥2161 (+9.5)

Shin-Etsu Chemical Co Ltd at $20.6 and ¥5915 (+53)

Takeda Pharmaceuticals SP ADR at $14.89 and ¥4276 (+1)

<4519> Chugai Pharmaceutical $24.18 6943 yen (+94 yen)

<4543> Terumo $19.2 2757 yen (+74.5 yen)

<4568> Daiichi Sankyo $33.48 4807 yen (-137 yen)

<4661> Orient Land $27.58 3960 yen (+50 yen)

<4901> Fujifilm $13.25 3805 yen (+43 yen)

<5108> Bridgestone $19.4 5571 yen (+47 yen)

<6098> Recruit Holdings $13.1 9404 yen (+139 yen)

<6146> Disco $25.5 36610 yen (+320 yen)

<6178> Japan Post $10 1436 yen (+12 yen)

<6201> Toyoda Automatic Loom Works $79.59 11427 yen (+317 yen)

<6273> SMC $21.28 61103 yen (+623 yen)

<6301> Komatsu $27.14 3896 yen (+42 yen)

<6367> Daikin Industries, Ltd. Unsponsored ADR $12.64 18147 yen (+187 yen)

<6501> Hitachi Ltd Sponsored ADR $52.37 3759 yen (+87 yen)

<6503> Mitsubishi Electric Corp. Unsponsored ADR $32.15 2308 yen (+31.5 yen)

<6594> Nippon Densan $10.24 5881 yen (+4 yen)

<6702> Fujitsu $20.46 2937 yen (+34.5 yen)

<6723> Renesas $7.38 2119 yen (+0.5 yen)

<6758> Sony $94.21 13526 yen (+161 yen)

<6857> Advantest $44.6 6403 yen (+108 yen)

<6902> Denso $15 2154 yen (+34.5 yen)

<6954> Fanuc $13.99 4017 yen (+52 yen)

<6981> Murata Manufacturing $9.63 2765 yen (+16 yen)

<7182> Japan Post Bank $8.15 1170 yen (-152.5 yen)

Toyota Motor is at $185.4 and ¥2662 (+¥28).

Honda Motor Co., Ltd. is at $32.95 and ¥1577 (+¥20.5).

HOYA is at $139.22 and ¥19988 (+¥253).

Canon Inc-Spons ADR is at $33.31 and ¥4782 (+¥53).

Nintendo Co Ltd is at $13.39 and ¥7690 (+¥20).

ITOCHU Corporation is at $108.34 and ¥7777 (+¥126).

Marubeni Corporation is at $163.06 and ¥2341 (+¥39.5).

Mitsui & Co., Ltd. is at $433.24 and ¥3110 (+¥59).

<8035> Tokyo Electric 85.47 dollars 24,542 yen (297 yen)

<8053> Sumitomo Corporation 23.09 dollars 3,315 yen (66 yen)

<8058> Mitsubishi Corporation 20.62 dollars 2,961 yen (8.5 yen)

<8306> Mitsubishi UFJ Financial Group 10.49 dollars 1,506 yen (24 yen)

<8316> Sumitomo Mitsui Financial Group 12.9 dollars 9,260 yen (148 yen)

<8411> Mizuho Financial Group 4.16 dollars 2,986 yen (95.5 yen)

<8591> Orix 120.15 dollars 3,450 yen (53 yen)

<8725> MS&AD Insurance Holdings 23.55 dollars 3,381 yen (43 yen)

<8766> Tokio Marine Holdings, Inc. $37.47 5380 yen (+121 yen)

<8801> Mitsui Fudosan Co., Ltd. $29.1 1393 yen (+21.5 yen)

<9432> NTT Inc. $26.17 150 yen (+0.2 yen)

<9433> KDDI Corporation $16.75 4810 yen (+6 yen)

<9983> Fast Retailing Co., Ltd. $33.71 48397 yen (+587 yen)

<9984> SoftBank Group Corp. $30.29 8697 yen (+134 yen)