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The rise of Fast Retailing's stock is supporting the market.
The Nikkei average rose for the third day, ending the trading at 39,605.80 yen, up 224.91 yen (+1.5 billion 70 million shares estimated volume). Despite the main stock price index in the US market falling the previous day, buying continued in financial stocks such as mega banks due to expectations of improved spreads following the rise in domestic long-term interest rates. Additionally, First Retailing <9983> announced favorable earnings, attracting buying from the morning, and the Nikkei average extended its gains to 39,668.93 yen in the mid-afternoon. On the Tokyo Stock Exchange main board, the number of declining stocks and rising stocks were
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Nikkei Average continues to rise, bought on the weakening yen, but weighed down by china connect and CPI announcements.
On the 9th, the U.S. stock market continued to rise. The Dow Jones Industrial Average closed at 42,512.00, up 431.63 points, and the Nasdaq closed at 18,291.62, up 108.70 points. Expectations of a prompt interest rate cut by the Federal Reserve Board (FRB) waned, leading to a decline after the opening. However, buying interest emerged from the dips as expectations of fiscal stimulus from the Chinese government aimed at revitalizing the economy to support global economic and corporate sales recovery, driving the market higher. Expectations were based on the September Federal Open Market Committee (FOMC) announcement by the FRB.
SoftBank, Kasumigaseki Capital, etc. (additional) Rating
Upgrade - Bullish Code | Stock Name | Securities Company | Before | After | ------ | --------------- | ------- | ------- | ------- | <4985> | Earth Pharmaceutical | Daiwa | "4" | "3" | Target Stock Price Change Code | Stock Name | Securities Company | Before | After | ------ | ----------------- | ------- | -----
Alps Al, Mitsui Chemicals, etc.
Alps Alpine <6770> enhances in-vehicle software, finds opportunities in SDV, invests 7 billion yen (Nikkan Kogyo front page) - NTT <9432> NTT Communications demonstrates transmission with MiraiSense and haptic sense in IOWN (Nikkan Kogyo page 3) - Mitsui Chemicals <4183> starts basic design for consolidating ethylene facilities in Chiba with Idemitsu Kosan (Nikkan Kogyo page 3) - 7 iHD <3382> major convenience store chain aims to increase acquisitions to 7 trillion yen, seeking negotiations (Nikkan Kogyo page 3) - Nagase Industry <8012>
Rising US high-tech stocks support the strong performance of semiconductor-related stocks.
The Nikkei average rebounded. It closed at 39,277.96 yen, up 340.42 yen (approximate volume of 1,508 million shares) at the end of trading. In the US market the previous day, hi-tech stocks were mainly bought following the stabilization of crude oil prices and the increase in long-term interest rates, leading to a rise in major stock indices. In the Tokyo market, buying ahead of semiconductors and related stocks pushed the Nikkei average up to 39,456.28 yen shortly after the start of trading. However, moves to secure short-term profits against the background of a recent decline in the Chinese Shanghai market's bullish trend were also observed.