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Buyback movement due to expectations of a soft landing in the US economy.
The Nikkei Average rebounded, closing at 38,647.75 yen, up 285.22 yen (approx. 2 billion shares traded). Due to the Dow Jones Industrial Average reaching a new high in the previous day's US market, investor sentiment improved and buying focused on leading stocks. However, the decline in shares of US semiconductor giant Nvidia weighed down on semiconductor-related stocks, resulting in selling pressure. The Nikkei Average soon turned negative, falling to 38,316.87 yen. However, being the final trading day of the month, there were buying activities from domestic institutional investors to adjust their holdings.
The Nikkei Average rebounded, gradually rising towards the close of the market, driven by supply and demand.
In the U.S. stock market on the 29th, the Dow Jones Industrial Average closed at 41,335.05, up 243.63 points (+0.59%), while the Nasdaq closed at 17,516.43, down 39.60 points (-0.23%), and the S&P 500 closed with a slight decline of 0.22 points (-0.004%). The revised figures for the GDP and personal consumption for the 4th to 6th quarter exceeded expectations, leading to an increase in the market after opening. The robustness of the domestic economy, labor market, and consumption demonstrated positive prospects for the economy, resulting in a continued rise in the market. Towards the end...
Sumitomo Rubber, Miura Kogyo, etc. (Added) Rating
Upgrade - Bullish Code | Stock Name | Securities Company | Previous | After Change | ------ | ------------ | ---------- | --------- | --------- | <9719> | SCSK | GS | "Hold" | "Buy" | Target Stock Price Change Code | Stock Name | Securities Company | Previous | After Change | ------ | ------------ | ---
8/30 [Strength and Weakness Materials]
[Bullish and Bearish Factors] Bullish factors: Dow Jones Industrial Average rose (41335.05, +243.63), 1 dollar = 144.80-90 yen, VIX index decreased (15.65, -1.46), US crude oil futures rose (75.91, +1.39), expectations of easing inflation in the USA, active share buyback, request from the Tokyo Stock Exchange to improve corporate value. Bearish factors: Nikkei average declined (38362.53, -9.23), NASDAQ Composite Index decreased (17516.43, -39.60), Chicago Nikkei futures declined.
Japan Steel, Sojitz, etc. [List of stock materials from newspapers]
* Okaya Steel Machinery <7485> deepens its presence in Asia, establishes a new company in Vietnam and increases staff in India (Nikkan Kogyo front page). * Nippon Steel <5401> expects arbitration results on the acquisition of US Steel next month, Vice Chairman looks ahead (Nikkan Kogyo front page). * NTT <9432> and Chunghwa Telecom achieve international communication between Japan and Taiwan through IOWN (Nikkan Kogyo page 3). * TDK <6762> collaborates with Tokyo Medical and Dental University to measure heart activities non-invasively using magnetic sensors (Nikkan Kogyo page 3). * Sojitz <2768> invests in agriculture DX startups, predicts grain harvest.
List of Cloud Breakout Stocks [Ichimoku Balance Table, List of Cloud Breakout Stocks]
○ Cloud Breakthrough Stocks List Market Code Stock Name Closing Price Leading Span A Leading Span B Tokyo Stock Exchange Main Board ＜1721＞ Comsys HD 3214 3210.5 3202＜1808＞ Haseko 1825 1805.5 1792.5＜2269＞ Meiji HD 3640 3637 3574}