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Movement of risk avoidance due to the decline in US high-tech stocks and the appreciation of the yen.
The Nikkei average continued to sharply decline. It closed at 38,053.67 yen, down 1,027.58 yen (- Volume estimate 1.9 billion90 million shares). Following the trend of tech stocks being sold in the previous day's US market, semiconductor-related stocks and others lost value. The yen also strengthened, reaching 151 yen to the dollar at one point, putting pressure, and causing selling to spread to export-related stocks. Furthermore, in the afternoon session, there was selling pressure from position adjustments ahead of the three-day weekend starting tomorrow, and with next week's US presidential election approaching, after the holiday.
Express News | Japanese stocks closed lower: the Nikkei 225 index fell by 2.63%, Lasertec semiconductors plunged more than 16%.
Guide to Watching the Show: If Shipo Mao and the opposition party fail to reach an agreement, what will happen next in the Japanese political arena?
①The latest report indicates that the Japanese Diet is set to hold a prime ministerial election on November 11. ②The long-ruling "LDP-Komeito coalition" failed to secure a majority of votes, and also failed to convince major opposition parties to join the coalition. ③Due to Japan's electoral rules, the deadlock will not prevent Japan from electing a prime minister in November.
Express News | Japanese stocks opened lower: the Nikkei 225 index fell 1.48%, Mitsubishi Heavy Industries, Ltd. and Hoya Corporation both dropped more than 2%.
Profit-taking sales are dominant due to the decline in US high-tech stocks.
The Nikkei average fell for the first time in 4 days. It closed at 39,081.25 yen, down 196.14 yen (trade volume approximately 2.19 million shares). In the previous three days, it rose more than 1,300 yen, but due to the selling of tech stocks in the US market the previous day, profit-taking sales of tech stocks led the way in the Tokyo market as well. The outcome of the Bank of Japan's monetary policy meeting revealed after the morning session ended was as expected, deciding to maintain the current monetary policy, but not as dovish as the outlook report had anticipated.
The Nikkei Average fell for the first time in four days, affected by the decline in semiconductor stocks, but it maintained the 39,000 yen level.
On the 30th, the US stock market fell. The Dow Jones Industrial Average closed at 42,141.54, down 91.51 points, while the Nasdaq ended trading at 18,607.93, down 104.82 points. The decline of heavy equipment maker Caterpillar weighed on the Dow, resulting in mixed trading after the opening. The private sector employment statistics exceeded financial estimates, and the domestic gross domestic product (GDP) for the July-September quarter also showed a still robust growth, despite slowing growth from the previous quarter, leading to expectations of a soft landing in the market. However, the long-term interest rates