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Noboru Yamamoto's "Stock Research File": The second act of the great market for stocks with a PBR below 1 begins PART 4.
As pointed out repeatedly in this column, the Exchange will soon reveal its views and policies regarding parent-child listings for the first time. According to the release from the expert meeting on December 10th last year, it was stated that the announcement would be made around the New Year, so it is likely to be released today at the earliest, or at the latest by next week. <Three Scenarios> Regarding the stock price reaction to this, three scenarios can be considered. The main scenario suggests that the listing rules will be quite stringent, but once the information is fully disclosed.
The sudden drop of Fast Retailing is a burden.
The Nikkei average has fallen for three consecutive days, closing down 414.69 yen at 39,190.40 yen (estimated Volume 1.7 billion 30 million shares), below the psychological threshold of 39,500 yen. The operating profit for Fast Retailing <9983> for the September-November 2024 period announced the previous day fell below market Financial Estimates, causing the company's stock to drop nearly 8% at one point. The decline widened toward the middle of the morning session, reaching as low as 39,166.05 yen. However, due to the consecutive declines, there was buying aimed at a rebound in the afternoon session.
Reports regarding Trump tariffs are a burden.
The Nikkei average experienced a significant decline, finishing at 39,605.09 yen, down 375.97 yen (Estimated Volume of 1.8 billion 40 million shares). Selling became prominent due to some reports regarding tariffs in the USA and the tightening of export regulations on Semiconductors to China. With the US market being closed on the 9th, selling by European players was also observed, along with position adjustments ahead of the SQ calculation date for January futures, leading to a drop to 39,385.05 yen during the mid-afternoon session. In the latter part of the session, there was some buying on dips.
The Nikkei average fell by 542 yen, with the yen rising and putting pressure on stock prices.
The Nikkei Average is down 542 yen (as of 1:50 PM). In terms of contribution to the Nikkei Average, ADVANTEST <6857>, Tokyo Electron <8035>, Fast Retailing <9983> are among the top negative contributors, while Chugai Pharmaceutical <4519>, NINTENDO CO LTD <7974>, and NTT Data G <9613> are among the top positive contributors. In the Sector, Marine Transportation, Wholesale Trade, Nonferrous Metals, Transportation Equipment, and Precision Instruments are among the top declining rates, while Other Products and Food Products have risen.
The Nikkei average is down about 445 yen, with the major negative contributors being Tokyo Electron, Advantest, and Fast Retailing.
On the 9th at 12:48 PM, the Nikkei average stock price is trading around 39,535 yen, down about 445 yen from the previous day. The afternoon session begins with a dominant Sell, expanding the decline. At 12:35 PM, it has fallen to 39,523.63 yen, down 457.43 yen. In the foreign exchange market, 1 dollar is at around 157.90 yen, with a slight appreciation of the yen recently. Among the stocks included in the Nikkei average, negative contributors include Tokyo Electron <8035.T>, Advantest <6857.T>, and Fast Retailing <998.
Nikkei Average Contribution Ranking (Before Closing) ~ The Nikkei Average continues to decline, with Tokyo Electron pushing it down by about 41 yen with just one stock.
As of the closing on nine days ago, the number of rising and falling stocks in the Nikkei average was 44 rising, 181 falling, and 0 unchanged. The Nikkei average continued to decline, ending the morning session at 39,678.93 yen, down 302.13 yen (−0.76%) compared to the previous day, with an estimated Volume of 0.9 billion shares. On the 8th, the USA market showed mixed results. The Dow Inc rose by 106.84 dollars to 42,635.20 dollars, while the Nasdaq ended trading down 10.80 points at 19,478.88. Employment-related Indicators showed mixed strength.
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