2024-03-14 17:22:50
On March 14th, the Nikkei Stock Average on the Tokyo stock market rebounded for the first time in four business days and closed at 38,807.38 yen, up 111.41 yen from the previous business day. The photo was taken in October 2020 in Tokyo (2024 Reuters/Issei Kato)
TOKYO (Reuters) – On the Tokyo stock market, the Nikkei Stock Average rebounded for the first time in four business days and closed at 38,807.38 yen, up 111.41 yen from the previous business day. Semiconductor stocks and other stocks sold off the previous day’s drop in US tech stocks, while value stocks were bought, supporting the index. However, with the Bank of Japan’s monetary policy meeting scheduled for next week, the rate of increase was not expected to widen.
The Nikkei average started slightly lower, down 104 yen from the previous business day. Semiconductor-related stocks were weak following the decline in high-tech stocks in the U.S. market the previous day, and the price at one point fell by 295 yen to 38,400 yen.17. On the other hand, there was some movement to look for value stocks, supporting the market. In the latter half of the market, semiconductor stocks gradually narrowed their decline, and the Nikkei Stock Average turned positive. However, a wait-and-see mood prevailed ahead of the Bank of Japan’s monetary policy meeting on the 18th and 19th, and the market was trading slightly higher in the second half of the market.
Japanese stocks have continued to be weak this week, but in the market, “I think this is a movement unique to March, such as selling to prepare for financial results and selling by institutional investors to take profits.” (Iwai Cosmo Securities, Director of Investment Research Department) (Mr. Shoichi Arisawa). Arisawa said, “The outlook for Japanese stocks seems to be strong, and if the Bank of Japan’s meeting in March passes without any problems, it may be easy for stock prices to test an upward trend once more.” (Arisawa)
On the other hand, regarding the Bank of Japan’s monetary policy, “There is a strong sense of uncertainty regarding the Bank of Japan’s policy following the lifting of negative interest rates, and the focus will be on what views Governor Kazuo Ueda will express regarding future monetary policy at the March meeting.” It was also pointed out that he was a strategist.
TOPIX closed 0.49% higher at 2,661.59 points. The trading value on the TSE prime market was 4,337,472 million yen. Prices rose in 29 of the 33 industries on the TSE, including electricity/gas, oil/coal products, and non-ferrous metals. Prices fell in four industries, including pulp and paper, banks, and services.
Individually, high-tech stocks such as Tokyo Electron (8035.T), opens new tab, Advantest (6857.T), opens new tab, and Shin-Etsu Chemical (4063.T), opens new tab were weak. On the other hand, Fast Retailing (9983.T), opens new tab, which has a large index contribution, rose over 1%, and SoftBank Group (9984.T), opens new tab, rose slightly. Power stocks are solid, with Tohoku Electric Power (9506.T), opens new tab up over 7%, Kansai Electric Power (9503.T), opens new tab up over 6%, Tokyo Electric Power Company Holdings (9501.T), opens new tab is over 6% higher. Nissan Motors (7201.T), opens new tab and Honda (7267.T), opens new tab, which were reported to be considering collaboration, were solid.
In the prime market, 1,236 stocks rose (74%), 382 stocks fell (23%), and 38 stocks (2%) remained unchanged.
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