I would like to pay attention to the following 3 points in late-day trading on the 14th.

・The Nikkei Average rebounded for the first time in 3 days, and the depreciation of the yen continued to have little sense of direction

・The dollar and yen are strong, and are in the 156 yen range before noon

・First Rite ＜9983＞ is the top contributor to price increases, and FANUC ＜6954＞ is in the same 2nd place

■The Nikkei Average rebounded for the first time in 3 days, and the depreciation of the yen continued to have little sense of direction

The Nikkei Average rebounded for the first time in 3 days. The forward transaction was closed at 38761.02 yen (estimated volume 1 billion 80 million shares), which was 39.36 yen higher (+ 0.10%) compared to the previous day.

The US stock market on the 13th was mixed. The Dow average closed at 43958.19 dollars, which rose by 47.21 dollars, and the NASDAQ closed at 19230.73, which fell 50.68 points. Since the October Consumer Price Index (CPI) matched expectations, buying took precedence with a sense of security, and it stayed steady. At the same time, the market price rose because additional interest rate cut observations at the December Federal Open Market Committee (FOMC) were strengthened in response to CPI. The Dow remained strong throughout the day, but the NASDAQ stalled towards the end of the game, turned into a decline, and ended.

US stocks were mixed, but the reaction of the drastic depreciation the day before took precedence, and the Tokyo market began trading with a buying advantage. There was also a scene where the Nikkei Average recovered to the 39,000 yen level, but there was still little sense of direction, and after a round of buying, there was a struggle at the previous day's closing price level. Meanwhile, the dollar index continued to stand alone, with the dollar index rising to the 106.5 level since 23/11/1. The depreciation of the yen and appreciation of the dollar accelerated to the 155 yen 90 yen per dollar exchange rate, which underpinned export-related stocks.

Mercari (4385) rose because it became known that the investment fund Oasis held just over 5% of stocks adopted by the Nikkei Average. Mitsubishi Heavy Industries ＜7011＞ and Sumitomo Mitsui Tigers ＜8309＞ were bought based on positive reports from securities companies. The search for electric wire stocks such as Sumitomo Electric ＜5802＞ and Furukawa Electric ＜5801＞ also continued. In addition, Kubota ＜6326＞, Sapporo HD ＜2501＞, Fujitsu ＜6702＞, Pana HD ＜6752＞, Kawasaki Shigeru ＜7012＞, FANUC ＜6954＞, etc. were bought.

Meanwhile, Kansai Electric Power Company (9503), which announced a large-scale public offering, plummeted, and 7 & iHD (3382), which announced that it had received proposals for delisting by founders, etc., fell slightly. The Rakuten Group (4755), whose financial results for the fiscal year ended 24-7 to 9 had its first operating surplus after entering the mobile phone business, remained in a negative zone after a round of purchases. Isetan Mitsukoshi ＜3099＞ had strong financial results for the fiscal year ending 24-4/9, but it was sold with an awareness that materials were exhausted due to the fact that the full-year earnings forecast was left unchanged. Other than this, there aren't even TOPPAN Holdings ＜7911＞, Sumitomo Pharma ＜4506＞, Lasertech ＜6920＞, SUMCO ＜3436＞, etc.

By industry, nonferrous metals, wholesale, machinery, transportation equipment, warehousing/transportation-related, etc. rose, while electricity/gas, oil/coal, metals, land transportation, retail, etc. declined.

Since the sense of caution against the next Trump administration continues to be strong in the backstage Tokyo market, there is a possibility that the Nikkei Average will drop one step lower around 14:00 when European investors begin to participate, similar to yesterday. Meanwhile, since today is the peak day for financial results announcements, the flow of individual searches is likely to become active. At 12:00, Takasago Thermal Engineering ＜1969＞, DIC ＜4631＞, Kyushu FG ＜7180＞, at 13:00, Daio Paper (3880), Toei ＜9605＞, Yokohama Rubber ＜5101＞, and at 15:00, Sundrug ＜9989＞, Credit Saison ＜8253＞, Macromill ＜3978＞, Japan Post ＜6178＞, SMC ＜6273＞, Kanpo Life Insurance ＜7181＞, Japan Post Bank ＜182＞, Concordia < 7186 ＞, Akebono Brake ＜7238＞, Ebara Seisakusho ＜6361＞, T&D Holdings ＜8795＞, Asahi ＜2502＞, Matsuki Yokoko ＜3088＞, etc. are planned.

■The dollar and yen are strong, in the 156 yen range before noon

The dollar and yen were strong in the Tokyo market on the morning of the 14th, and the position was steady from 155 yen 34 yen. Dollar buying intensified due to the upward trend in US 10-year bond yields, and it temporarily rose to the 156 yen level before noon. After that, it was pushed by sales near the milestone and stalled, but yen sales supported the dollar in the positive zone of the Nikkei Stock Average.

The trading range up to this point has been from 155 yen 34 yen to 156 yen 05 sen for the dollar and yen, 164 yen 09 yen to 164 yen 66 sen, and the euro dollar from 1.0547 dollars to 1.0568 dollars.

■Backstage check stocks

・9 stocks, such as Sailor Advertisement ＜2156＞ and ASUA ＜246A＞, etc., are stop-high

*Includes temporary stop height (sign value)

・First Rite ＜9983＞ is the top contributor to price increases, and FANUC ＜6954＞ is in the same 2nd place

■Economic indicators and statements from key figures

[Economic indicators]

・Australia · October: 4.1% (forecast: 4.1%, September: 4.1%)

・Increase or decrease in the number of people employed in Australia in October: +0.0159 million people (forecast: +0.025 million people, September: +0.0641 million people)

[Remarks by VIPs]

・Australian Reserve Bank Governor Brock

“Interest rates are sufficiently restrictive and will remain at that level until we are confident about inflation”

＜Domestic＞

・Nothing in particular

＜Overseas＞

・Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting