Mr. Hiroshi Arano: What happened in the September market and what it suggests, based on overseas investors' trading actions

In September, the Nikkei 225 held firm in the 23,000-yen range, and it fell below 23,000 yen only once.

Compared with the Dow Jones, volatility and breadth were lower, and although the advance-decline ratio remained at a high level, it showed weakness that could not fully recover.

We will also discuss the high price-earnings ratio and foreign investors' views on Japanese stocks.

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