In comparison with the Tokyo Stock Exchange (based on an exchange rate of 155.12 yen per dollar), Japanese stocks in the ADR (American Depositary Receipts) market, such as Japan Post Holdings Co. Ltd <6178>, Japan Post Bank Co. Ltd <7182>, Renesas Electronics Corporation <6723>, Toyota Industries Corporation <6201>, Toyota Motor <7203>, Shin-Etsu Chemical Co. <4063>, and Mizuho Financial Group Inc. <8411>, experienced declines, leading to overall selling pressure. The Chicago Nikkei 225 Futures settlement price was 39,355 yen, down 275 yen compared to Osaka during the day.
The US stock market reversed course. The Dow Jones Industrial Average closed down 337.47 points at 44,544.66, and the Nasdaq ended down 54.31 points at 19,627.44. There was no surprise in the PCE core price index, and following a drop in interest rates, the market opened higher. Reports that the Trump administration would postpone the tariff implementation until March were received positively, leading to further gains. However, after a government spokesman denied the reports, clarifying that plans to start tariffs on February 1 remained unchanged, caution increased and selling accelerated, leading to a decline. The Nasdaq, which had been rising significantly on positive earnings from Apple, also turned to decline, as the market expanded its losses toward the end.
In the New York foreign exchange market on January 31, the dollar weakened to 154.50 yen before rising to 155.22 yen and closing at 155.19 yen. The US December core PCE price index was as expected with no surprises; however, the January Chicago Purchasing Managers' Index (PMI) fell short of forecasts. Reports in some media suggested that the Trump administration was postponing the implementation of tariffs on Canada and Mexico until March, which led to a preference for selling dollars as long-term interest rates decreased. Subsequently, the White House denied the report, clarifying that tariffs on Canada, Mexico, and China would commence on February 1, which caused long-term interest rates to turn upward and revived dollar buying. It is believed that actual demand at the month-end also supported dollar buying. The euro-dollar exchange rate fell to 1.0360 before rising to 1.0434, then dropped again, closing at 1.0362. The unexpected slowdown in Germany's January Consumer Price Index (CPI) led to selling of the euro due to interest rate cut expectations as well as selling pressure from President Trump's clarification of tariff implementation plans on the European Union.
The NY crude oil futures for March 31st were weaker (NYMEX West Texas Intermediate crude for March closed at $72.53, down $0.20).
■Top Gainers in ADRs (January 31)
Stock code Stock name | Closing price (dollars) | Price in Japanese yen | Japan closing price comparison | Rate of change |
<9107> | Kawasaki Kisen Kaisha | 13.53 dollars | 2099 yen (126 yen) | +6.39% |
<9503> | kansai electric power co inc | 5.82 dollars | 1806 yen (90 yen) | +5.24% |
<4507> | Shionogi & Co., Ltd. | 7.73 dollars | 2398 yen (108 yen) | +4.72% |
<8309> | Sumitomo Mitsui Trust Holdings, Inc. | 5.13 dollars | 3979 yen (97 yen) | +2.5% |
<8113> | Uni-Charm | 3.97 dollars | 1232 yen (17 yen) | +1.4% |
■ Stocks with the largest decline in ADRs (31st)
Stock code Stock name | Closing price (dollars) | Price in Japanese yen | Japan closing price comparison | Rate of change |
<8830> | Sumitomo Realty | 15.02 dollars | 4660 yen (-732 yen) | -13.58% |
<7259> | Aisin Seiki | 10.25 dollars | 1590 yen (-172.5 yen) | -9.79% |
<6752> | Panasonic | 9.5 dollars | 1474 yen (-123 yen) | -7.7% |
<6178> | Japan Post Holdings | 9.73 dollars | 1509 yen (-117 yen) | -7.2% |
<7182> | Japan Post Bank | 9.65 dollars | 1497 yen (-113.5 yen) | -7.05% |
■ QITABANKUAI ADR stocks (31st)
Stock code Stock name | Closing price (dollars) | Price in Japanese yen | Japan closing price comparison |
<2914> | JAPAN TOBACCO INC | 12.7 dollars | 3940 yen (-33 yen) |
<3382> | Seven & i Holdings Co., Ltd. | 16.02 dollars | 2484 yen (14.5 yen) |
<4063> | Shin-Etsu Chemical Co. | 15.5 dollars | 4,809 yen (-68 yen) |
<4502> | Takeda Pharmaceuticals Sp Adr | 13.39 dollars | 4,154 yen (-55 yen) |
<4519> | Chugai Pharmaceutical Co., Ltd. | 21.65 dollars | 6717 yen (-17 yen) |
<4543> | Terumo | 18.66 dollars | 2895 yen (-35.5 yen) |
<4568> | Daiichi Sankyo Company | 27.91 dollars | 4,329 yen (52 yen) |
<4661> | Orient Land | 22.45 dollars | 3,482 yen (-19 yen) |
<4901> | FUJIFILM | 10.98 dollars | 3,406 yen (-39 yen) |
<5108> | Bridgestone Corporation Unsponsored ADR | 17.94 dollars | 5,566 yen (-23 yen) |
<6098> | Root Inc | 13.97 dollars | 10,835 yen (-95 yen) |
<6146> | Disco | 29.1 dollars | 45,140 yen (400 yen) |
<6178> | Japan Post Holdings | 9.73 dollars | 1509 yen (-117 yen) |
<6201> | Toyota Automatic Loom Works | 82.76 dollars | 12838 yen (-187 yen) |
<6273> | SMC | 18.97 dollars | 58,853 yen (-27 yen) |
<6301> | KOMATSU | 30.39 dollars | 4,714 yen (-22 yen) |
<6367> | Daikin Industries, Ltd. unsponsored adr | 11.75 dollars | 18,227 yen (-143 yen) |
<6501> | Hitachi Ltd Sponsored ADR | 51.2 dollars | 3,971 yen (25 yen) |
<6503> | Mitsubishi Electric Corp. | 32.88 dollars | 2550 yen (-21.5 yen) |
<6594> | Nidec | 4.32 dollars | 2680 yen (-9.5 yen) |
<6702> | Fujitsu | 19.53 dollars | 3029 yen (11 yen) |
<6723> | Renesas | 6.69 dollars | 2076 yen (-31.5 yen) |
<6758> | Sony Group Corp | 22.01 dollars | 3414 yen (-26 yen) |
<6857> | Advantest | 55.3 dollars | 8578 yen (-81 yen) |
<6902> | DENSO | 13.83 dollars | 2145 yen (-12.5 yen) |
<6954> | ファナック | 14.89 dollars | 4619 yen (-40 yen) |
<6981> | Murata Manufacturing Co., Ltd. | 7.86 dollars | 2438 yen (-31.5 yen) |
<7182> | Japan Post Bank | 9.65 dollars | 1497 yen (-113.5 yen) |
<7203> | toyota motor | 188.93 dollars | 2931 yen (-42.5 yen) |
<7267> | HONDA MOTOR CO., LTD. | 28.34 dollars | 1465 yen (-13.5 yen) |
<7741> | HOYA | 133.89 dollars | 20,769 yen (-206 yen) |
<7751> | Canon Inc-Spons Adr | 32.25 dollars | 5,003 yen (-15 yen) |
<7974> | Nintendo Co Ltd | 16.36 dollars | 10,151 yen (-79 yen) |
<8001> | Itochu Corporation | 92.15 dollars | 7,147 yen (-36 yen) |
<8002> | Marubeni | 148.7 dollars | 2307 yen (-11 yen) |
<8031> | Mitsui & Co., Ltd. | 393.96 dollars | 3056 yen (-30 yen) |
<8035> | Tokyo Electron | 84.48 dollars | 26,209 yen (4 yen) |
<8053> | Sumitomo Corporation | 21.64 dollars | 3,357 yen (-7 yen) |
<8058> | Mitsubishi Corporation | 16 dollars | 2482 yen (-7.5 yen) |
<8306> | Mitsubishi UFJ Financial Group | 12.61 dollars | 1956 yen (-22.5 yen) |
<8316> | Sumitomo Mitsui Financial Group | 14.88 dollars | 3847 yen (-21 yen) |
<8411> | Mizuho Financial Group | 5.48 dollars | 4250 yen (-57 yen) |
<8591> | ORIX | 105.79 dollars | 3282 yen (-15 yen) |
<8725> | MS&AD Insurance Holdings | 20.74 dollars | 3217 yen (-32 yen) |
<8766> | Tokio Marine Holdings, Inc. | 33.06 dollars | 5128 yen (-32 yen) |
<8801> | Mitsui Fudosan | 27 dollars | 1396 yen (-13.5 yen) |
<9432> | NTT | 24.62 dollars | 153 yen (0.3 yen) |
<9433> | kddi corporation | 16.59 dollars | 5147 yen (-39 yen) |
<9983> | Fast Retailing | 33.1 dollars | 51,345 yen (315 yen) |
<9984> | SoftBank Group | 30.72 dollars | 9,531 yen (120 yen) |
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