[Today's Market] April 27 | Ongoing semiconductor market, but the turning point is imminent

The Tokyo market on the 27th saw buying concentrated in a core group of stocks from the opening.
The Nikkei Stock Average ended trading at 60,537 yen, up 821 yen from the previous day.

In last week's US market, the Nasdaq Composite surged sharply following Intel's strong results.Nasdaq Compositerose significantly.

On the other hand,the Dow Jones Industrial Averagefell and moved somewhat erratically, but Japanese stocks rose solidly.

This time, the focus is again on semiconductors.

Advantest moved enough to push the Nikkei average up by about 500 yen with a single stock.

◆ Today’s Market Digest

・Nikkei Average rose 821 yen to 60,537 yen
・US led by Nasdaq, Japan followed
・Semiconductor-led structure continues
・Capital inflows into theme stocks
・Advantest after results, weaker in after-hours

◆ Investor Memo

The current market is clearly led by semiconductors.

However, signs of change are appearing in the core stocks.

Even with good results, they are sold off.

This pattern is often seen at market turning points.

Will the trend continue here,
or will it cool off for a while?

Tomorrow’s opening will be quite important.

From tomorrow onward, earnings announcements will intensify.

Shin-Etsu Chemicaland Socionext are among the notable companies’ results due.

Depending on the results, the market may shift from a previously index-led movement to an allocation toward individual stocks.

Whether the semiconductor cycle continues or the flow of funds changes remains to be seen.

From here, how earnings are digested will likely determine the market direction.

Trends change in an instant.

When will the semiconductor cycle change?

Being able to discern that will be important going forward.