Japanese ADR (American Depositary Securities) shares fell in comparison with the Tokyo Stock Exchange (converted to 1 dollar 151.03 yen), Japan Post Bank ＜7182 ＞, FANUC ＜6954＞, Fujifilm ＜4901＞, Recruit HD ＜6098＞, KDDI ＜9433＞, MS&AD Insi HD ＜8725＞, Shin-Etsu Chemical (4063), etc. fell, and overall sales became slightly dominant. The Chicago Nikkei 225 futures settlement price is 38,390 yen, which is 40 yen lower than the Osaka daytime ratio.

The US stock market is mixed. The Dow average closed at 42,924.89 dollars, down 6.71 dollars, and the Nasdaq closed at 18,573.13, which was 33.12 points higher. Sales continued due to a retreat in expectations of aggressive interest rate cuts, and after getting close, they fell. The market price began to rise, supported by favorable economic indicators and the increase in domestic economic growth forecasts by the International Monetary Fund (IMF), and purchases in response to expectations of a soft landing were supported. Towards the end of the game, the rise in interest rates was pushed by disgusting sales, and the NASDAQ remained steadfast in expectations for high technology, maintained a positive zone, and ended in a mixed situation.

The dollar and yen fell to 150 yen 61 yen in the New York foreign exchange market on the 22nd, then rose to 151 yen 20 yen, and closed at 151 yen 10 yen. The US October Philadelphia Fed non-manufacturing activity and the US October Richmond Fed manufacturing index improved more than expected from the previous month, and long-term interest rates turned upward in response to results justifying gradual interest rate cuts, and dollar purchases resumed. The euro dollar fell from $1.0822 to $1.0793 and closed at $1.0798. Portuguese Central Bank President Centeno suggested the possibility of drastic interest rate cuts, and euro sales accelerated in response to dovish statements from senior officials such as European Central Bank (ECB) President Lagarde and Chief Economist Director Lane.

NY crude oil futures continued to rise for the 12-month period on the 22nd (NYMEX crude oil 12-month closing price: 71.74 ↑ 1.70).

■Stocks with the highest ADR growth rate (22nd)

Stock code stock name closing price (dollar) Japanese yen conversion price Japanese closing price ratio gain/fall rate

＜8830＞ Sumitomo Real Estate 17 dollars 5135 yen (526 yen) +11.41%

＜6178＞ Japan Post $10 1510 yen (111.5 yen) +7.97%

＜2801＞ Kikkoman 24.1 dollars 1,820 yen (133 yen) +7.88%

＜9107＞ Kawasaki Kisen 15.08 dollars 2278 yen (104 yen) +4.78%

＜5020＞ ENEOS 10.65 dollars 804 yen (32.1 yen) +4.16%

■Stocks with lower ADR depreciation rate (22nd)

Stock code stock name closing price (dollar) Japanese yen conversion price Japanese closing price ratio gain/fall rate

＜8750＞ Dai-ichi Life HD 23 dollars 3474 yen (-357 yen) -9.32%

＜7182＞ Japan Post Bank 8.3 dollars 1254 yen (-120.5 yen) -8.77%

＜7259＞ Aisin Seiki 10.45 dollars 1,578 yen (-30 yen) -1.87%

＜4755＞ Rakuten $6.13 926 yen (-10.6 yen) -1.13%

＜4911＞ Shiseido 22.2 dollars 3353 yen (-38 yen) -1.12%

■Other ADR stocks (22nd)

Stock Code Stock Name Closing Price (Dollar) Japanese Yen Conversion Price Japanese Closing Price Ratio

＜2914＞ Nippon Tobacco Industry 13.52 dollars 4084 yen (-5 yen)

＜3382＞ Seven & I HD 14.62 dollars 2208 yen (-12 yen)

＜4063＞ Shin-Etsu Chemical 19.31 dollars 5833 yen (-35 yen)

＜4502＞ Takeda Pharmaceutical 14.13 dollars 4268 yen (13 yen)

＜4519＞ Chugai Pharmaceutical 22.78 dollars 6881 yen (-4 yen)

＜4543＞ Terumo 19.22 dollars 2903 yen (-12.5 yen)

＜4568＞ Daiichi Sankyo 32.54 dollars 4915 yen (16 yen)

＜4661＞ Orienland 23.59 dollars 3563 yen (-16 yen)

＜4901＞ Fujifilm $12.03 3634 yen (-27 yen)

＜5108＞ Bridgestone 18.6 dollars 5618 yen (-24 yen)

＜6098＞ Recruit HD 12.68 dollars 9575 yen (-71 yen)

＜6146＞ Disco 25.9 dollars 39117 yen (-203 yen)

＜6178＞ Japan Post $10 1510 yen (111.5 yen)

＜6201＞ Toyota Industries 71.67 dollars 10824 yen (-31 yen)

＜6273＞ SMC 21.05 dollars 63584 yen (574 yen)

＜6301＞ Komatsu Seisakusho 26.17 dollars 3952 yen (8 yen)

＜6367＞ Daikin Industries 12.14 dollars 18,335 yen (-100 yen)

＜6501＞ Hitachi, Ltd. $51.68, 3903 yen (5 yen)

＜6503＞ Mitsubishi Electric $30.5 2303 yen (-5 yen)

＜6594＞ Nidec 4.76 dollars 2876 yen (32 yen)

＜6702＞ Fujitsu 19.95 dollars 3013 yen (-11 yen)

＜6723＞ Renesas 6.58 dollars 1988 yen (-10.5 yen)

＜6758＞ Sony 17.89 dollars 2702 yen (11 yen)

＜6857＞ Advantest $52.8 7974 yen (14 yen)

＜6902＞ Denso 13.68 dollars 2066 yen (-9.5 yen)

＜6954＞ FANUC 12.89 dollars 3894 yen (-31 yen)

＜6981＞ Murata Manufacturing 9.27 dollars 2800 yen (-14 yen)

＜7182＞ Japan Post Bank 8.3 dollars 1254 yen (-120.5 yen)

＜7203＞ Toyota Motor Corporation 169.93 dollars 2566 yen (21 yen)

＜7267＞ Honda Motor 30.44 dollars 1532 yen (19.5 yen)

＜7741＞ HOYA 132.64 dollars 20033 yen (-77 yen)

＜7751＞ Canon $33.22 5017 yen (-6 yen)

＜7974＞ Nintendo 13.23 dollars 7993 yen (-17 yen)

＜8001＞ ITOCHU Corporation 100.39 dollars 7581 yen (-24 yen)

＜8002＞ Marubeni 156.61 dollars 2365 yen (-1.5 yen)

＜8031＞ Mitsui & Co., Ltd. 413.5 dollars 3123 yen (-3 yen)

＜8035＞ Tokyo Electric 76.15 dollars 23002 yen (12 yen)

＜8053＞ Sumitomo Corporation 21.52 dollars 3250 yen (-1 yen)

＜8058＞ Mitsubishi Corporation 18.68 dollars 2821 yen (4.5 yen)

＜8306＞ Mitsubishi UFJFG 10.59 dollars 1599 yen (7.5 yen)

＜8316＞ Sumitomo Mitsui Financial Group 12.65 dollars 3184 yen (24 yen)

＜8411＞ Mizuho Financial Services 4.21 dollars 3179 yen (38 yen)

＜8591＞ ORIX $107.11 3235 yen (15 yen)

＜8725＞ MS&AD Inci HD 22.68 dollars 3425 yen (-22 yen)

＜8766＞ Tokio Marine HD 36.75 dollars 5550 yen (-22 yen)

＜8801＞ Mitsui Fudosan 26.6 dollars 1339 yen (1 yen)

＜9432＞ NTT 24.06 dollars 145 yen (-0.6 yen)

＜9433＞ KDDI 15.56 dollars 4700 yen (-31 yen)

＜9983＞ Fast Lite $33.99 51,335 yen (-95 yen)

＜9984＞ SoftBank G 29.84 dollars 9013 yen (-1 yen)