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With FOMC looming, there was volatile movement throughout, but it managed to hold at 36,000 yen by the close.
The Nikkei average fell significantly. It closed at 36,203.22 yen, down 378.54 yen (with a volume of approximately 1.870 billion shares traded). Although the Nikkei average initially rose in the morning due to the record high of the NY Dow in the U.S. market on the 16th, it softened after reaching a high of 36,663.18 yen shortly thereafter. Against the background of expectations for a significant interest rate cut in the U.S., the yen exchange rate temporarily reached the 139 yen level against the dollar during the three-day holiday, the highest level in about a year and two months, causing growing concerns about the performance of export companies, which gradually heightened caution over the Nikkei average.
The Nikkei Average continued to sharply decline, with the decline in financial stocks due to the strengthening of the yen and the decrease in interest rates.
On the 16th, the U.S. stock market was mixed. The Dow Jones Industrial Average closed at 41,622.08, up 228.30 points (+0.55%), the Nasdaq closed at 17,592.13, down 91.85 points (-0.52%), and the S&P 500 closed at 5,633.09, up 7.07 points (+0.13%). Ahead of the upcoming Federal Open Market Committee (FOMC) meeting this week, there was a cautious stance and the market was mixed after the opening. The September New York Fed Manufacturing Business Index recovered to expansion territory for the first time in about a year, indicating a positive manufacturing sector.
Companies such as Otsuka Holdings and Seiko House (additional) Rating
Upgrade - Bullish Code | Stock Name | Securities Company | Previous | After Change | ------|---------------|-------------|--------------|--------------|＜2371＞|Kakaku.com |SMBC Nikko | "3" | "2" |＜4927＞|POLA Orbis Holdings |Morgan Stanley | "Under W" | "Equal
Determine the firmness around 36,500 yen.
[Stock Opening Comments] The Japanese stock market on the 17th is likely to have a market development that is difficult to grasp the direction, ahead of the Federal Open Market Committee (FOMC). In the U.S. market on the 16th, the NY Dow was up 228 points, while the Nasdaq was down 91 points. The September NY Fed manufacturing business index expanded for the first time in about a year, and the NY Dow updated its record high on the expectation of a soft landing. The Chicago Nikkei 225 futures settlement price was 36,435 yen, 145 yen higher than Osaka. The exchange rate was 140 yen to the dollar.
China aims for the top with AI self-driving cars
[Self-driving Cars] Competition is intensifying among emerging companies such as Xpeng and leading tech giants like Huawei over the driver assistance software that is becoming a step towards full self-driving cars in China. China has surpassed other countries in the field of electric automobiles (EVs), and now it is reported that China is trying to repeat this achievement in the field of self-driving cars. <7203> Toyota Motor, <6902> Denso, <3663> Cell Cysco, <3906>
How do you view the recent "hawkish" stance of the Bank of Japan executives? Goldman Sachs: The next interest rate hike may still have to wait until January next year.
Goldman Sachs believes that when evaluating the timing of interest rate hikes, it is important to consider financial market stability and inflation trends. The bank predicts that January next year will be the best time to determine whether Japan's inflation will rebound, and based on this, determine that Japan will raise interest rates in January. However, if there is significant turmoil in the financial markets, the timing of the rate hike may become uncertain.