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Market Chatter: Sanken Electric Faces Uncertainty as ON Semi Eyes Allegro
The Nikkei average surged by 629 points, rebounding significantly, and the TOPIX also rose, marking the largest increase this year as of the afternoon of the 3rd.
On the 3rd, the Nikkei Average Stock Price rose significantly by 629.97 yen compared to the previous weekend, reaching 37,785.47 yen, marking the second largest increase of the year after January 7 (776.25 yen). The TOPIX (Tokyo Stock Price Index) also rose by 47.47 points to 2,729.56 points, exceeding the gain of 32.26 points on February 13 and achieving the largest increase this year. On February 28 in the local U.S. stock market, the concern over the resurgence of inflation eased, leading to broad buying of stocks, which also influenced the buying of Japanese stocks from the morning.
Sanken Electric ETC continues to rank, and it is reported that ON Semiconductor is interested in acquiring Allegro.
Sanken Electric Co., Ltd. <6707> is now ranked (as of 13:32). It hit the upper limit. Allegro Microsystems Inc., which holds about 32% of shares as the largest shareholder of the company, is reported to have drawn interest from rival ON Semiconductor for acquisition. It seems that efforts towards the acquisition have been underway for several months, and there is also a possibility that other companies aiming for acquisition may emerge. Top changes in Volume [As of March 3, 13:32] (average over the last 5 days.
Stocks reaching the upper and lower limits in the first half of the trading session.
■Limit Up <265A> Hmcomm <2998> Kuriaru <3195> Generation Pass <3350> Metaplanet <3696> Celes <5535> Migaro Holdings <6707> Sunken Electricity <7093> Adish <9787> Aeon Delight ■Limit Down *Includes temporarily high and low limits (indicative prices).
The Nikkei average rose by 424 points, rebounding, with all 33 Industries increasing, and over 80% of Main Board stocks rising = March 3rd morning session.
On March 3, the Nikkei average in the morning session rose by 424 yen and 52 sen from the previous weekend, reaching 37,580 yen and 2 sen. The TOPIX (Tokyo Stock Price Index) also increased by 34.07 points to 2,716.16 points. Shortly after the market opened at 9:00 AM, the Nikkei average hit 37,720 yen and 36 sen, up by 564 yen and 86 sen. In the US stock market on February 28, the January PCE (Personal Consumption Expenditures) deflator rose by 0.3% compared to the previous month, aligning with market forecasts. There is concern over renewed inflation.
The Nikkei average is up about 450 yen, and after a round of buying, it is in a sideways trading condition as of March 3rd, morning session.
On March 3rd at around 10:09 AM, the Nikkei average stock price was trading at approximately 37,605 yen, up about 450 yen from the previous weekend. Just after the market opened at 9:00 AM, it reached 37,720.36 yen, up 564.86 yen. In the US stock market on February 28, the January PCE (Personal Consumption Expenditures) deflator in the US rose by 0.3% compared to the previous month, matching market average expectations. Concerns over a resurgence of inflation eased, leading to broad buying of stocks. In response to this movement, Japanese stocks were also bought actively. However, buying...