“Chicago Nikkei Average Futures (CME)” (30 days)

DEC24

O 37600 (in dollars)

H 38615

L 37535

C 38265 large exchange ratio +335 (evening ratio +55)

Vol 8126

DEC24

O 37445 (in yen)

H 38460

L 37355

C 38115 large margin +185 (evening ratio -95)

Vol 27246

“American Depositary Receipts Overview (ADR)” (30th)

In the ADR market, Japan Post ＜6178 ＞, Mizuho FG ＜8411＞, SMC ＜6273＞, Mitsui Fudosan ＜8801＞, Tokyo Elec ＜8035＞, Toyota Motor Corporation ＜7203＞, Advantest ＜6857＞, etc. rose in comparison with the Tokyo Stock Exchange (143.61 yen equivalent to 1 dollar), and the general buying advantage.

Code stock name closing price compared to previous day Japanese yen conversion price Japanese closing price ratio

7203 (TM.N) TOYOTA MOTOR CORPORATION 178.57 -4.25 2564 21.5

8306 (MUFG.N) Mitsubishi UFJFG 10.18 0.05 1462 8.5

8035 (TOELY) Tokyo Elec 88.83 -1.66 25514 224

6758 (SONY.N) Sony 96.57 0.41 2774 -3.5

9432 (NTTYY) NTT 25.58 -0.11 147 0.2

8058 (MTSUY) Mitsubishi Corporation 20.56 0.11 2953 0.5

6501 (HTHIY) Hitachi 53.00 0.45 3806 25

9983 (FRCOY) Fast Lite 33.10 -0.18 47535 115

9984 (SFTBY) SoftBank G 29.51 -0.37 8476 49

4063 (SHECY) Shin-Etsu Chemical 20.82 0.08 5980 3

8001 (ITOCY) ITOCHU Corporation 107.40 2.05 7712 34

8316 (SMFG.N) Sumitomo Mitsui FG 12.63 0.46 3023 -22

8031 (MITSY) Mitsui & Co. 444.16 9.11 3189 11

6098 (RCRUY) Recruit HD 12.13 -0.25 8710 5

4568 (DSNKY) Daiichi Sankyo 32.92 -0.18 4728 19

9433 (KDDIY) KDDI 15.92 -0.62 4573 -21

7974 (NTDOY) Nintendo 13.32 -0.21 7652 16

8766 (TKOMY) Tokio Marine HD 36.65 0.75 5263 32

7267 (HMC.N) Honda Motor 31.73 -0.49 1519 11.5

2914 (JAPAY) Nippon Tobacco Industry 14.55 -0.02 4179 0

6902 (DNZOY) DENSO 14.84 -0.10 2131 5.5

4519 (CHGCY) Chugai Pharmaceutical 24.09 -0.53 6919 -13

4661 (OLCLY) ORIENLAND 25.69 -0.56 3689 -9

8411 (MFG.N) Mizuho FG 4.18 0.17 3001 65

6367 (DKILY) Daikin Industries 13.99 0.20 20091 16

4502 (TAK.N) Takeda Pharmaceutical 14.22 -0.32 4084 -19

7741 (HOCPY) HOYA 138.40 0.69 19876 91

6503 (MIELY) Mitsubishi Electric 32.27 -0.40 2317 13.5

6981 (MRAAY) Murata Manufacturing 9.83 0.08 2823 16.5

7751 (CAJPY) Canon 32.90 -0.27 4725 22

6273 (SMCAY) SMC 22.40 0.18 64337 687

7182 (JPPTY) JP BANK 8.20 0.25 1178 -160

6146 (DSCSY) disco 26.30 0.50 37769 279

3382 (SVNDY) Seven & i HD 14.97 -0.02 2150 3

8053 (SSUMY) Sumitomo Corporation 22.37 -0.08 3213 19

6702 (FJTSY) Fujitsu 20.50 0.30 2944 8.5

6201 (TYIDY) TOYOTA INDUSTRIES 76.60 -6.31 11001 -24

5108 (BRDCY) Bridgestone 19.26 0.09 5532 32

6178 (JPPY) Japan Post 10.00 0.00 1436 70

8002 (MARUY) Marubeni 163.06 2.06 2342 2

6723 (RNECY) Renesas 7.23 0.10 2077 -2

6954 (FANUY) FANUC 14.61 -0.15 4196 6

8725 (MSADY) MS&AD Insi HD 23.08 0.49 3315 -15

8801 (MTSFY) Mitsui Fudosan 28.20 -1.60 1350 12

6301 (KMTUY) Komatsu Seisakusho 27.73 0.41 3982 16

4901 (FUJIY) FUJIFILM 12.86 -0.03 3694 6

6594 (NJDCY) Nidec 10.50 0.04 3016 10

6857 (ATEYY) ADVANTEST 47.30 0.60 6793 52

4543 (TRUMY) Terumo 18.72 -0.41 2688 -12

8591 (IX.N) ORIX 116.05 -3.45 3333 15

(Top 50 by market capitalization, converted to 143.61 yen per dollar)

“Top 5 ADR Growth Rate Stocks” (30th)

Code stock name closing price Japanese yen conversion price Japanese closing price ratio (%)

6988 (NDEKY) Nitto Denko 45.05 2588 199.5 8.35

6178 (JPPY) Japan Post 10.00 1436 70 5.12

7259 (ASEKY) Aisin Seiki 33.94 1625 48 3.04

8411 (MFG.N) Mizuho FG 4.18 3001 65 2.21

7532 (DQJCY) Pampasi HD 26.20 3763 68 1.84

“Top 5 ADR depreciation rate stocks” (30th)

Code stock name closing price Japanese yen conversion price Japanese closing price ratio (%)

7182 (JPPTY) Japan Post Bank 8.20 1178 -160 -11.96

8750 (DLICY) Dai-ichi Life HD 22.60 3246 -436 -11.84

5020 (JXHLY) ENEOS 10.30 740 -38.7 -4.97

2801 (KIKOY) Kikkoman 22.00 1580 -48 -2.95

9735 (SOMLY) SECOM 17.98 5164 -130 -2.46

“US Stock Market Overview” (30th)

NYDOW

Closing price: 42330.15 compared to the previous day: 17.15

Opening Price: 42289.75 High Price: 42347.66 Low Price: 41929.07

Year-to-date high: 42330.15 year-to-date low: 37266.67

Previous year high: 37710.10 Previous year low price: 31819.14

Nasdaq

Closing price: 18189.17 compared to the previous day: 69.58

Opening Price: 18069.83 High Price: 18198.16 Low Price: 17997.56

Year-to-date high: 18647.45 year-to-date low: 14510.30

Previous year high: 15099.18 Previous year low price: 10305.24

S&P 500

Closing price: 5762.48 compared to the previous day: 24.31

Opening Price: 5726.52 High Price: 5765.14 Low Price: 5703.53

Year to date high: 5762.48 Year old low: 4688.68

Previous year high: 4783.35 Previous year low price: 3808.10

US 30-year government bonds 4.116% US 10-year government bonds 3.781%

The US stock market rose. The Dow average rose 17.15 dollars to 42,330.15 dollars, and the Nasdaq closed at 18,189.17, which rose 69.58 points.

Ahead of Chairman Powell's speech of the Federal Reserve (Fed), the wait-and-see signs intensified, and after they snuggled up, things were mixed up. Buying became dominant because the September Chicago Purchasing Department Association Business Index unexpectedly improved, but since Chairman Powell suggested a small pace of interest rate cuts, sales temporarily turned drastically from a sense of disappointment. The rise in long-term interest rates on the NASDAQ was frowned upon, but the rise in mobile terminals Apple provided support, and it recovered to the positive zone towards the end of the market, boosting the market price. At the end of the month, in addition to adjustments at the end of the quarter, the Dow also rose until the end of the month, hit record highs every day, and ended in response to soft landing expectations in response to the chairman's opinion, which is optimistic about the economy. By sector, while technology, hardware, and equipment rose, materials declined.

CVS Health (CVS), which operates drugstores, liked reports that they held a meeting with dismissive investor Glenview Capital Management over business improvement measures, and rose. Analysts showed an optimistic outlook that signs of sluggish demand based on the time required from order to delivery of the “pro” model seen at the beginning of the announcement in sales of the new iPhone were being corrected, and the mobile terminal Apple (AAPL) was bought.

The outlook for the fourth quarter of Carnival (CCL), which operates cruise ships, fell short of expectations. The satellite communication infrastructure Ecostar (SATS) agreed to sell Dish Network, which is under its umbrella, to DirecTV, and declined.

Chairman Powell expressed the view that if economic indicators are as expected, interest rate cuts within the year will total 0.5%.

(Horiko Capital Management LLC)