[Today's Market] March 18 – Sharp rebound driven by crude oil decline and a rise in U.S. stocks, led by semiconductor shares

On the Tokyo market of the 18th, buying gradually took the lead from the start of trading, and the upside expanded into the afternoon session.
The Nikkei Stock Average closed at 55,239 yen, up 1,539 yen from the previous day. After an unstable trend until the previous day, it rebounded sharply.

In the U.S. market the previous day, both the Dow and Nasdaq rose.
Excessive caution regarding Middle East tensions eased somewhat, and the easing of crude oil prices contributed to an improvement in investor sentiment.

Encouraged by this trend, the Tokyo market also saw buying coming in from the open.
Moreover, as WTI crude futures fell to around the $91 per barrel level during trading, inflation fears receded and buying accelerated.

Additionally, President Trump's remarks suggesting an early end to the Iran situation further supported market a sense of security.
Expectations for a reduction in geopolitical risks spread, and risk-taking behavior strengthened.

As a result, not only the Nikkei, but the TOPIX and the Growth 250 index also rose in tandem.
There was broad buying across many stocks, a so-called broad-market rally.

Among them, semiconductor-related stocks stood out.
Purchases gathered in mainstay stocks such as Advantest and SoftBank Group, which had been weighted down on the upside, lifting the indices.

In addition, capital flowed into shipping stocks amid movements in crude oil prices.
Mitsui O.S.K. Lines continued to rise on consecutive days, signaling continued capital shifts into them with a thematic appeal.

From the previously unstable market stance, investor sentiment greatly improved.
However, it is also true that such rapid market-moving changes are heavily influenced by external factors.

◆ Market Summary for Today

・Nikkei up 1,539 to 55,239, a sharp rebound
・U.S. market rose as crude oil stabilized
・Oil fell to around $91 during trading
・Geopolitical risk easing expectations due to Trump remarks
・Semiconductors (Advantest, SBG) led the indices
・Shipping stocks (Mitsui O.S.K. Lines) also attracted funds

◆ Investor Notes

Today's gains largely reflect external factors such as the decline in crude oil prices and the easing of geopolitical risk expectations; it is still premature to conclude that the market trend has fully changed.

Tomorrow features important events that could influence the market and exchange rate directions, such as the Japan-U.S. leaders' summit and the Bank of Japan policy decision meeting.
Depending on the details, the trend could shift significantly again.

In such a situation, rather than rushing into short-term gains, a calm assessment of the situation is required.
To gauge the market for the following week, it is important to watch tomorrow's movements.