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Concerns about the slowdown of the Japanese economy temporarily led to a drop below the 36,000 yen level.
The Nikkei average fell. It closed at 36,793.11 yen, down 235.16 yen (Volume approximately 2.2 billion 40 million shares). Concerns about an economic slowdown in the USA due to President Trump's tariff policies led to a significant decline in major stock indices in the previous day's USA market, while the yen strengthened to the mid-146 yen range against the dollar, which also pressured investor sentiment. During the first half of the trading session, the Nikkei average dropped to 35,987.13 yen, breaking below 36,000 yen for the first time in about six months since September 17 of last year.
Although high-tech stocks are steady, there is a stagnation around 37,000 yen.
The Nikkei average rebounded, ending the trade at 37,028.27 yen, up 141.10 yen (Volume approximately 1.7 billion shares). It started with buying due to the rise in US stocks at the end of the previous week, but comments from President Trump led to uncertainty, and there were moments when the Nikkei average turned down to 36,705.02 yen. However, due to the continuous drop in stock prices, there were movements to pick up dips, and the yen, which was close to falling below 147 yen per dollar for a time, stabilized in the late 147 yen range, resulting in a buying movement.
M3, Coca BJH, etc. (additional) Rating
Upgraded - Bullish Code Stock Name Brokerage Firm Previous After Change --------------------------------------------------- <3436> SUMCO SMBC Nikko "2" "1" <5947> Rinnai Mizuho "Hold" "Buy" <9983> Fast Retailing SMBC Nikko "2" "1" Downgraded - Bearish Code Stock Name Brokerage Firm Previous After Change -------------------------------------
It is important to assess the rebound strength of Semiconductors stocks.
[Stock Opening Comment] The Japanese stock market on the 10th is likely to continue with an unstable market trend after a round of buying. On the 7th, the US market saw the Dow Jones Industrial Average rise by 222 points, and Nasdaq increased by 126 points. The Dow Jones Industrial Average widened its decline at one point due to the US employment statistics for February coming in below Financial Estimates. Subsequently, Federal Reserve Chairman Powell reassured the economy is stable and reaffirmed the stance of maintaining policy for the time being during a speech, which spread a sense of security leading to a turnaround.
Risk-averse movements due to the decline in U.S. tech stocks and the appreciation of the yen.
The Nikkei average saw a significant decline for the first time in three days, falling by 817.76 yen to settle at 36,887.17 yen (with an estimated Volume of 1.9 billion 90 million shares), marking a drop below 37,000 yen for the first time in about six months since September 18 of last year. The decline was driven by a downturn in US tech stocks and a strengthening yen, leading to increased risk aversion. Although there was some buying at the lower level after breaking below the key level of 37,000 yen, attention is focused on the upcoming US employment statistics for February and the subsequent movements in the US market.
TOKAIHD, Sansan, ETC (additional) Rating
Upgraded - Bullish code stock name broker firm previous change after ------------------------------------------------------------- <2395> Shin-Nihon Kogyo Nomura "Hold" "Buy" <3487> CRE Logistics Mizuho "Hold" "Buy" <6460> Sega Sammy HD SMBC Nikko "2" "1" <7240> NOK Morgan Stanley "Equal Weight" "Over Weight" <7832> Bandai Namco HD SMBC Nikko.