On the Chicago Nikkei futures (CME) (7th)

December 24

Open at $40135

High at $40175

Low at $39085

Close at $39730, +490 compared to the previous trading day on the Tokyo Stock Exchange (+50 from the evening session)

Volume: 6860

December 24th

O 40085 (yen basis)

H 40110

L 39040

C 39690, +450 compared to the TSE (+10 evening comparison)

Volume 23444

The overview of American depositary receipts (ADR) (7th)

In the ADR market, compared to the TSE (converted at 1 dollar = 152.89 yen), Terumo <4543>, SoftBank G <9984>, mitsubishi commercial affairs <8058>, Advantest <6857>, Japan Post <6178>, Tokyo Electron <8035>, HOYA <7741>, among others, have risen, with a general tendency towards buying.

Code Company Name Closing Price Change from Previous Day Japanese Yen Conversion Price Comparison with Japanese Closing Price

(Ranked in the top 50 by market capitalization, converted at 1 dollar to 152.89 yen)

Top 5 ADR increases (7 days)

Code Stock name Closing price Japanese yen conversion price Japanese closing price ratio (%)

Top 5 ADR declines (7 days)

Code Company Name Closing Price Japanese Yen Conversion Price Japanese Closing Price Comparison (%)

US stock market overview (7 days)

NYDOW

Closing Price: 43,729.34 Previous Day Change: -0.59

Opening price: 43718.92 High: 43823.10 Low: 43641.92

Year-to-date high: 43729.93 Year-to-date low: 37266.67

Previous Year High: 37,710.10, Previous Year Low: 31,819.14

NASDAQ

Closing price: 19269.46 Change from previous day: 285.99

Opening price: 19084.43 High: 19301.70 Low: 19084.43

Year-to-date high: 19269.46 Year-to-date low: 14510.30

Previous Year High: 15,099.18, Previous Year Low: 10,305.24

S&P 500

Closing price: 5973.10, Change from previous day: +44.06

Opening price: 5947.21, High: 5983.84, Low: 5947.21

Year-to-date high: 5973.10, Year-to-date low: 4688.68

Previous Year High: 4,783.35, Previous Year Low: 3,808.10

U.S. 30-year Treasury bond: 4.541%, U.S. 10-year Treasury bond: 4.328%

U.S. stock market was mixed. The Dow Jones Industrial Average closed down 0.59 dollars at 43,729.34 dollars, while the Nasdaq ended trading at 19,269.46, up 285.99 points.

Bullish sentiment continued due to favorable reactions to Trump's victory in the presidential election. Additionally, buying interest was driven by expectations of rate cuts at the Federal Open Market Committee (FOMC) meeting. Following the opening, the market rose. The Federal Reserve Board (FRB) announced the expected rate cut at the FOMC, leading to a drop in long-term interest rates and further gains in the Nasdaq, setting new record highs consecutively. While the overall market trended higher, the Dow failed to maintain gains and closed mixed. By sector, automobiles, auto parts, semiconductors, and related manufacturing equipment rose, with banks experiencing a decline.

Ride-sharing service Lyft Inc (LYFT) reported strong growth in passenger numbers and revenue in the third quarter earnings, as well as raising its performance outlook. Additionally, it announced partnership plans with self-driving technology companies Mobileye, May Mobility, and Nexar, leading to an increase. Cosmetic manufacturer e.l.f. Beauty (ELF) recorded an unexpected 40% increase in revenue, prompting an upward revision of its full-year outlook and an increase.

Sporting goods manufacturer Under Armour-A (UAA) saw an increase in profit in the quarterly earnings, adjusted its full-year earnings per share forecast upwards, resulting in a rise. Luxury clothing brand Ralph Lauren (RL) reported strong sales in Europe and Asia in the quarterly earnings, showing an optimistic outlook for the year-end holiday season, and revising its full-year performance outlook upwards, leading to an increase. Analyst downgrades led to a decline in the shares of bank JP Morgan (JPM).

Airbnb, a platform for travel information and reservations, announced its quarterly earnings after the close of trading. The content and outlook were well received, leading to an increase in extended hours trading.

(Horiko Capital Management LLC)