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The Japanese stock market soared nearly 9% in a single week, the largest increase in four years! Japanese investors are celebrating: the familiar feeling has returned.
According to market data, the Nikkei 225 index rose by 3.6% to 38,062.67 points on Friday, resulting in a stunning 8.7% increase for the week, marking the largest weekly gain since the beginning of the pandemic in April 2020. Meanwhile, the TOPIX index also rose 3% on the day and posted a weekly gain of approximately 8%.
With Fumio Kishida's unexpected resignation, how do market strategists view the Japanese yen, Japanese stocks, and Bank of Japan policies?
Market strategists pointed out that Fumio Kishida's decision not to seek re-election as prime minister may pave the way for new leaders to support the normalization of Bank of Japan policies in Japan.
The afternoon's Nikkei average started down 80 yen, with Shin-Etsu Chemical and Hitachi among others declining.
[Nikkei Average Stock Price・TOPIX (Table)] Nikkei Average; 36,151.76; -80.75 TOPIX; 2,565.72; +12.17 [Afternoon opening summary] The afternoon Nikkei Average started at almost the same level as the previous close (36,155.26 yen) at 36,151.76 yen, down 80.75 yen from the previous day. During lunchtime, Nikkei 225 futures ranged from 36,020 yen to 36,230 yen. The dollar-yen was about 40 yen higher against the yen and lower against the dollar than around 9 a.m., at 1 dollar = 146.60-70.
Three points to watch for in the morning session - a stronger trend to buy on dips waiting to aim higher.
In the first half of the 14th, the following three points are of interest: ■ Movement that strengthens buying on waiting for a pullback ■ Citizen, Q1 operating profit decreased by 15.4% to 4.684 billion yen ■ Key material for the morning session: Canon, "i-line exposure equipment" for downstream processes to double next year, contributing to high-density implementation ■ In the Japanese stock market on the 14th, after a round of buying, there may be a sense of stalemate but it is likely to move towards a stance of waiting for a pullback. In the US market on the 13th, the Dow Jones Industrial Average
Canon Inc-spons adr, Hino Motors, and others [List of stock materials from newspapers]
*Canon Inc-spons Adr <7751>: Production of 'i-line exposure equipment' for backend processes will double in the next fiscal year and contribute to high-density mounting. (Nikkan Kogyo front page) - ○ * Tokyo Electric Power HD <9501>: Cooperation in decarbonization in Palau (Nikkan Kogyo page 3) - ○ * Kobayashi Pharmaceutical <4967>: 11 additional cases of death related to unreported 'red koji' incidents (Nikkan Kogyo page 3) - ○ * Hino Motors <7205>: Steady management of 'municipal ride-sharing' operations with remote support from Tokyo (Nikkan Kogyo page 6) - ○ * Yamato HD <9064>: Public road demonstration of battery replaceable EV truck with Mitsubishi.
Tokyo Electric Power: March 2025, 1st quarter financial statement (Japanese standard) (consolidated) (completion of mid-term review by certified public accountants)
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