On 9th July, the Nikkei Stock Average rose by nearly 800 yen to close at over 41,500 yen, reaching a new all-time high. Propelled by rising stock prices at the S&P 500 and Nasdaq in the US stock market, semiconductor-related stocks pushed the index higher. Value stocks were sold for profit-taking. Stocks such as Fast Retailing (9983.T) or Softbank Group (9984.T) were bought well while automotive stocks were weak.
On 10th July, the Nikkei 225 again reached an all-time high on the Tokyo Stock Exchange (TSE) in two consecutive days, closing above 41,800 yen. The TSE’s the top-tier Prime Market cap exceeded 1,000 trillion yen for the first time. In addition to semiconductors and other high-tech-related stocks, finance and insurance-related stocks were bought well on the back of rising long-term interest rates, and a wide range of industries bought from expectations that the weakening of the yen would boost earnings, particularly for exporting industries such as automobile companies.
https://www.jpx.co.jp/english/ Website of Japan Exchange Group (JSE)
https://www.jetro.go.jp/en/invest/investment_environment/ Invest Japan -Japan External Trade Organization (JETRO)
