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Developments while keeping an eye on the exchange rate.
The Nikkei average has fallen for six consecutive trading days. It ended the day at 38,701.90 yen, down 111.68 yen (estimated Volume of 2.7 billion 10 million shares). Following the yen's depreciation after Bank of Japan Governor Kazuo Ueda's press conference, there was buying in export-related stocks, such as Automobiles, and the Nikkei average began to rebound. Towards the end of the morning session, it rose to 39,039.68 yen. However, after Finance Minister Katsunobu Kato expressed concerns over the fluctuations in the foreign exchange market, including speculative movements, it was a trigger for short-term Futures.
The Nikkei average fell for the sixth consecutive day, closing at a low due to the decline in financial stocks.
On the 19th, the U.S. Stocks market was mixed. The Dow Inc. rose by $15.37 to close at $42,342.24, while the Nasdaq fell by 19.93 points to end at $19,372.77. After the opening, the market experienced an upward movement. The sharp drop the previous day, due to the indication from the Federal Reserve Board (FRB) of a slowdown in the pace of additional interest rate cuts during the Federal Open Market Committee (FOMC), was seen as an overreaction, leading to a wave of buying. The domestic Gross Domestic Product (GDP) for the July to September period was revised upward, and new unemployment Insurance claims were announced in the morning.
Stocks that moved or were traded in the first half of the session.
*Needswell <3992> 377 - announced measures aimed at a stock price target of 600 yen. *Zojirushi Makino <7965> 1770 +202 raised its financial estimates, and operating profit is now projected to increase. *Park 24 <4666> 1994 +146.5 due to upward revisions from the previous term and a significant increase in dividend plans this term. *Mixi <2121> 3395 +235 expectations continue for the new SNS service. *Osaka Titanium Technologies <5726> 1766 +104 Bo.
December 17th [Today's Investment Strategy]
[Fisco Selected Stocks] [Material Stocks] Zojirushi Mahobin <7965> 1568 yen (12/16) engages in cooking appliances, home appliances, and living products. The financial estimates for the fiscal year ending November 2024 have been revised upward. The operating profit is expected to be 5.955 billion yen (an increase of 19.1% compared to the previous period). This is about a 14% increase from the previous estimates. The pressure IH rice cookers and humidifiers, centered around the top model 'Enbu Daki', are performing well. The efforts to pass on the increased costs to prices have also contributed to this success. [Emerging]
Focus on Zojirushi and Park24, while Proled and Tokyo Base may be sluggish.
In the US stock market on the 16th, the Dow Jones Industrial Average fell by 110.58 points to 43,717.48, the Nasdaq composite index rose by 247.17 points to 20,173.89, and the Chicago Nikkei 225 Futures increased by 165 yen to 39,625 yen compared to the daytime in Osaka. The exchange rate was 1 dollar = 154.10-20 yen. In today's Tokyo market, Park 24 Co., Ltd. <4666> exceeded the previous Financial Estimates with a projected operating profit increase of 21.0% for the fiscal year ending October 2024 compared to the previous estimate of 9.4%. Zojirushi Corporation <79> revised its performance forecast upwards for the fiscal year ending November 2024.
Sumitomo and others announced a Share Buyback on December 16.
The stocks that announced the establishment of their own stock acquisition limits on December 16 (Monday) are as follows: <8830> Sumitomo Realty 8 million shares (1.7%) 35 billion yen (from 24/12/17 to 25/6/30) <4936> Axia 1.2 million shares (5.0%) 0.6 billion 80.4 million yen (24/12/17) <2902> Taiyo Chemical 0.15 million shares (0.9%) 0.2 billion 26.8 million yen (24/12/17) <7807> Kowa Manufacturing 0.13 million shares (3.0%) 0.1 billion 25.19 million yen.