Interest in main stocks did not increase, and trading volume stunk.

This week, emerging markets fell. During the same period, while the Nikkei Average was -3.00%, the Growth Market Index was -3.69%, and the Growth Market 250 Index was -4.22%. Similar to the Prime Market, there was a rollback in the 'high market trade' at the beginning of the week causing a decline. Subsequently, influenced by the words and actions of the new Prime Minister Ishiba, buying of main stocks was cautious, and short-term funds flowed into recent IPO stocks. Due to the lack of increased interest in main stocks, trading volume remained low at just over 100 billion yen each day.

Among the top market capitalization stocks, Time <215A> was sold down to the lowest level since listing due to a gradual decline. On the other hand, GENDA <9166> was bought and reached a new all-time high since listing, while Free <4478> also showed strong performance. Additionally, cybersecurity-related stocks purchased on September 27 such as FFRI Security <3692>, as well as space-related stocks like QPS Research Institute <5595>, ispace <9348>, Astro Scale HD <186A>, showed declines, while Asaden <5616> surged as a regional revitalization-related stock. Furthermore, short-term funds flowed into recent IPO stocks like Asua <246A>, Itami Art <168A>, Opro <228A>, and Liberaware <218A>, leading to a buying trend. The opening price of Shimadaya <250A>, which was listed on the Standard Market on the 1st, was 6.4% below the offering price at 1760 yen, and it continued to gradually decline over the weekend.

At the beginning of the week, there is a possibility of an upside but with a heavy resistance at higher levels.

Next week, the emerging markets are likely to start with a buying trend. Following a decline in expectations of a significant rate cut after the US employment statistics, the US dollar strengthened against the yen, reaching 148 yen per dollar in the US forex market over the weekend. This shift led to improved investor sentiment. Overnight trading of Growth 250 Futures increased by 13 points from the day's close to 645 points. The Growth Market 250 Index has been moving within a narrow range between the 75-day moving average line (75MA: 641 points) and the 25-day moving average line (25MA: 655 points). However, there is a possibility of testing higher levels at the beginning of the week. Due to the yen's weakening against the dollar, the main focus of trading activity is likely to shift to large-cap stocks on the main board, which may lead to heavy resistance in the Growth Market after the initial buying phase. It will be important to confirm an increase in trading volume.

Individually, interest continues to be directed towards recent IPO stocks with light price movements. The focus remains on Ishin <143A>, which was purchased this week following a release, as well as Asua and Opro, which showed significant increases. On the other hand, biotech-related stocks like Canvas <4575>, Anges <4563>, Qiome Biotech <4583>, Noile Immune Biotech <4893>, which experienced declines, may continue to face challenges due to the flow of short-term funds towards recent IPOs.

Next week, Kei Uno <259A>, engaged in the manufacture and sale of jewelry and watches, will be listed on the Mothers Market on the 8th. In addition, on the 11th, Orutzu <260A>, engaged in the development of Digital Clone P.A.I. (Personal Artificial Intelligence), will be listed on the Growth Market. Orutzu is likely to see a stable price formation and secondary trading due to the high thematic interest in Personal Artificial Intelligence.