[Fujitomi] Tokyo Stock Market Continues Rally; Enthusiasm for Pausing Yen Rise

The Nikkei Stock Average continued to rise, closing at 19,262.53 yen, up 177.22 yen (0.93%) from the previous day. In the morning, selling pressure due to a stronger yen limited gains, but when it was reported that the U.S. House of Representatives would vote on an alternative to the Affordable Care Act (Obamacare) on the 24th, dollar-yen buying returned, and the Nikkei turned higher. The increase was also aided by domestic importers increasing dollar purchases during the pre-10 a.m. settlement on the 5th and 10th. On the other hand, in parts of the currency market, downside risks for the dollar against the yen are being watched with caution. If the Obamacare replacement bill is defeated in the U.S. House, doubts about the Trump administration’s policy administration could spread, and dollar selling could intensify. The TOPIX also rose, finishing up 13.51 points (0.88%) at 1,543.92.

The Tokyo Stock Exchange Prime Market trading value was 2,145.5 billion yen, and trading volume was 1,822.174 million shares. The number of advancing issues on the Prime Market was 1,559, declining issues 351, and unchanged 100. Of the 33 sectors, 30 rose, including Pulp & Paper, Electric Power & Gas, Banks, Insurance, Chemicals, Construction, Land Transport, and Pharmaceuticals, while Petroleum & Coal Products, Ocean Shipping, and Mining fell.

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