September fiscal-year-end stocks, ex-rights final trading day
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Now, the theme this time isSeptember earnings stocks and the last trading day with rights.
On the 25th, as expected, the Prime Minister indicated his intention to dissolve the House of Representatives.
Believing in the anomaly that “the market rises during elections,” buyers may have had expectations for today, but as of 10:00, it has been trading modestly lower.
The offering price for additional shares of Japan Post Holdings was 1,322 yen per share (2% discount from 1,349 yen), which also fell below the initial public offering price of 1,400 yen, giving a bad image.
Furthermore, just before the Prime Minister's announcement, Governor Koike announced the formation of a new party, which seems to have shifted the atmosphere.
This is partly because in some forecasts, the Liberal Democratic Party might lose nearly half of its seats in the Tokyo electoral district.
The image of another Tokyo Metropolitan Assembly election has resurfaced again.
From around there, the yen strengthened, and with the NY market also trading weakly, the Japanese stock market started in a modestly soft manner.
The "buy on elections" sentiment also seemed to have exhausted after the recent rise of about 400 yen.
Going forward, it is uncertain how much buying on the rights day and the end-of-September “makeup” buying will occur.
On the other hand, there is also demand from shorts to cover, so the market may stay range-bound for a while.
Note) The above is my personal view and is intended solely to improve financial literacy. Therefore, it was not created for investment solicitation. Please make the final investment decisions at your own responsibility.
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