I would like to pay attention to the following 3 points in the late-day transaction on the 25th.

・The Nikkei Average continued to rise drastically and remained in the positive zone with a buying advantage

・The dollar and yen are reluctant to decline, and they are also being bought back because of affordability

・The top contributor to price increases is Fast Rite ＜9983＞, and Tokyo Electron ＜8035＞ is in the same 2nd place

■The Nikkei Average continued to rise drastically and remained in the positive zone due to buying dominance

The Nikkei Average continued to rise drastically. The front market transaction was closed at 38868.68 yen (estimated volume 0.9 billion11.31 million shares), which rose 584.83 yen.

On the 22nd of last weekend, the Dow average in the US market rose by 426.16 dollars to 44296.51 dollars, and the NASDAQ closed at 19003.65 points, which was 31.23 points higher. Due to improvements in manufacturing and service industry PMI, it was bought in anticipation of a soft landing, and then rose after being close to it. The Dow continued to grow in response to a decline in long-term interest rates and good financial results from retail companies such as Gap (GAP) and Ross Stores (ROSS), etc., and hit a record high. The NASDAQ maintained a positive zone, although growth was sluggish due to the decline in NVDA (NVDA), which is leading the artificial intelligence (AI) semiconductor market.

With the US stock market on the sidelines, buying took the lead in today's Nikkei Average in the form of falling in favor of Chicago futures. Expectations for the year-end sales season are also growing in response to good financial results from US retail companies. The strong US economic indicators announced the previous weekend had a positive effect on investor sentiment, and buying dominance developed in a wide range of stocks.

Individually, some semiconductor-related stocks such as Lasertec ＜6920＞ and Toelec ＜8035＞, and financial stocks such as Mitsubishi UFJ ＜8306＞ and Sumitomo Mitsui ＜8316＞ remained steady. Also, Mitsubishi Heavy Industries ＜7011＞, SoftBank G ＜9984＞, Fast Lite ＜9983＞, ASICS ＜7936＞, etc. rose. In addition, Keisei Electric Railway (9009), where some shares held by the Murakami Fund were transferred, skyrocketed, and Keikyu Corporation (9006), Prored Partners (7034), YTL (1773), etc. became the top price increase rates.

Meanwhile, Disco (6146), Advante (6857), Fujikura (5803), etc. remained soft. Also, Mercari ＜4385＞, NTT ＜9432＞, ITOCHU ＜8001＞, Hitachi ＜6501＞, etc. also declined. Meiji HD ＜2269＞, which announced the implementation of stock sales by major financial institutions, took the lead in sales. In addition, System Research ＜3771＞, Ceres ＜3696＞, Senshu Electric Industry ＜9824＞, etc. ranked high in price drop rates.

By industry, while the land transport industry, precision equipment, pharmaceuticals, etc. rose, only the shipping industry declined.

It seems that the Nikkei Stock Average will continue to be steady in the aftermath as the search for a wide range of stocks continues. In the current market, additional interest rate hike implementation observations at the Bank of Japan's last monetary policy meeting to be held on December 18-19 are increasing. In response to this, the depreciation of the yen and appreciation of the dollar came to a standstill at the level of 154 yen per dollar in the exchange market. Regional banks and megabanks are showing steady movements in the Tokyo market, but it seems that interest rate merit stocks such as financial stocks will speculatively advance until the December meeting. On the other hand, I would like to assume that there is a possibility that stocks with interest rate disadvantages, such as real estate, will generally not even move.

■The dollar and yen are reluctant to decline, and they are also being bought back because of affordability

The dollar and yen were reluctant to decline in the Tokyo market on the morning of the 25th. Dollar sales took precedence due to a decline in US 10-year bond yields, and the price dropped from 154 yen 41 yen to 153 yen 55 yen. After that, it was bought back due to a sense of affordability, and it was returned to a small price. However, in response to the rise in the Nikkei Stock Average, the return of the dollar was limited.

The trading range up to this point is from 153 yen 55 yen to 154 yen 41 sen for the dollar and yen, 160 yen 99 yen to 161 yen 92 sen for the euro and yen, and 1.0464 dollars to 1.0501 dollars for the euro dollar.

■Backstage check stocks

・3 stocks, such as GMO Ad Partners ＜4784＞ and BTM ＜5247＞, are stop-high

*Includes temporary stop height (sign value)

・The top contributor to price increases is Fast Rite ＜9983＞, and Tokyo Electron ＜8035＞ is in the same 2nd place

■Economic indicators and statements from key figures

[Economic indicators]

・NZ・October trade balance: -1.544 billion NZ dollars (September: -2.154 billion NZ dollars ← -2.108 billion NZ dollars)

[Remarks by VIPs]

・German Chancellor Nagel

“PMI confirms stagnation in German economy”

“There is a possibility that additional interest rate cuts will continue in the next few months”

“We are on track to reach our 2% inflation target”

＜Domestic＞

・ 14:00 September Business Trend Index · Prior Revised Value (Preliminary Value: 109.4)

＜Overseas＞

・Nothing in particular