[Today's Market] April 15 — A shift due to earnings reports, the difficulty of the semiconductor market
On the Tokyo market on the 15th, large shareholders led from the opening.
The Nikkei Stock Average ended the day at 58,134, up 256 points from the previous day.
In the U.S. market the previous day,the Dow Jones Industrial Average・the Nasdaq Compositealso rose.
Strength in AI-related semiconductors stood out, and the market started on a favorable tone.
Following that trend, the Tokyo market in the morning session was led by semiconductors.
However, around 2:00 p.m., the atmosphere changed abruptly.
After the results of ASML, the Dutch maker of semiconductor manufacturing equipment,ASMLsemiconductor stocks fell broadly.
Lamited by Laser Tech and Tokyo Electron fell into negative territory.
The Nikkei average also faced a narrowing of gains.
Even good earnings were sold off.
This move is truly a headache for investors.
◆Market Summary for Today
・Nikkei rose 256 points to 58,134
・U.S. market rose led by semiconductors
・In the morning, Tokyo market also led by semiconductors
・Trading slowed in the afternoon after ASML results
・Broad selling in semiconductor stocks
◆Investor Notes
Today’s price moves symbolize the difficulty of the current market.
What will Tokyo do tomorrow when clouds gathered after ASML’s results?
Will the semiconductor trend continue,
or will it break down at some point?
This is a moment to assess carefully.
And one more thing.
The market is starting to price in an end to warfare after the conflict ends.
Of course, nothing is certain, but it is true that eyes are gradually turning in that direction.
Moreover, going forward, attention is likely to focus on long-term interest rate movements in Japan and the U.S.
With regard to Middle East tensions, the market reaction has become somewhat muted as the existing factors have been largely priced in.
There is also an impression forming that the market is moving beyond geopolitical factors alone.
In other words, there is the possibility that the axis is shifting toward the next catalysts rather than just geopolitics.
Even so, there are certainly phases when buying is warranted.
Do not miss those timings.
This seems to be the key point moving forward.