News On Japan

Nikkei Closes at Record High, Surpassing 52,000 Yen for the First Time

TOKYO - The Nikkei Stock Average closed at a record high of 52,411 yen on October 31st, up 1,085 yen from the previous day, marking the first time in history it has ended above the 52,000-yen level. This is the third consecutive day the index has reached a new all-time closing high.

Investor sentiment was buoyed by strong earnings reports from U.S. technology companies such as Apple, which drove buying across semiconductor-related shares and other high-tech sectors.

Adding to the momentum was the yen’s depreciation following comments from the Bank of Japan governor the previous day, with the exchange rate temporarily falling to the 154-yen range against the dollar.

Market analysts noted that anticipation for upcoming corporate earnings announcements and continued enthusiasm for high-tech stocks were fueling a cycle of aggressive buying. However, they also warned that the rapid pace of gains was heightening concerns of an overheated market.

Source: TBS

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Typhoon No. 24 remained nearly stationary south of Japan on September 2 but is forecast to move north toward Okinawa, bringing the risk of sudden heavy rain and stronger winds from the afternoon while waves are expected to rise steadily as the storm lingers nearby. As of 6 a.m. on September 2, the typhoon was located south of Japan and was expected to approach Okinawa while passing to the east of the main island.

Japan's Environment Ministry will conduct its first survey of animal cafes, where customers can interact with animals including exotic species, as concerns grow over infection risks, injuries and the welfare burden placed on animals.

Haneda Airport introduced two major changes on September 2, opening a new boarding facility at Terminal 1 while moving the checked-baggage deadline for all domestic flights to 30 minutes before departure.

Universal Studios Japan is considering its first expansion since opening in 2001, with plans to use about 60,000 square meters of former Nippon Steel factory land adjacent to the park and potentially increase its total area by roughly 10%.

Japan will lower the statutory speed limit on certain residential roads from 60 kilometers per hour to 30 km/h from September 1, with police in Hyogo Prefecture urging drivers to familiarize themselves with the new rules and drive more carefully in neighborhood areas.

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U.S. Treasury Secretary Scott Bessent told Bank of Japan Governor Kazuo Ueda that he strongly supports decisive market intervention and monetary policy measures by Japan to address excessive yen weakness, saying the currency's depreciation is contributing to inflationary pressure.

Tokyo stocks ended mixed on September 1, with the Nikkei 225 closing at 66,215.34, down 96.59 points, or 0.15%, as rising bond yields and weakness in semiconductor shares weighed on the index, while the broader TOPIX rose 25.57 points, or 0.62%, to 4,181.86 for its ninth straight gain.

Japan's benchmark long-term interest rate reached 3% on September 1, its highest level since 1996, as government bond selling accelerated on expectations of a possible Bank of Japan rate hike, rising U.S. yields and growing concerns over Japan's fiscal outlook.

Honda and Nissan Motor have agreed to jointly develop an operating system and onboard computers for next-generation vehicles, aiming to introduce the technology in new models from fiscal 2029 as they seek to compete with U.S. and Chinese automakers.

Japan began producing a commemorative 1,000-yen silver coin marking 100 years since the start of the Showa era at the Japan Mint in Osaka on August 31, with a first-striking ceremony held to mark the start of production.

Tokyo stocks ended mixed on August 31, with the Nikkei 225 closing at 66,311.93, down 93.63 points, or 0.14%, after briefly plunging more than 1,500 points in early trading, while the broader TOPIX rose 9.58 points, or 0.23%, to 4,156.29 for its eighth straight gain.

Japan's benchmark long-term interest rate briefly climbed to 2.95% on August 31, its highest level in about 30 years, as investors sold government bonds on expectations of further Bank of Japan rate increases, rising U.S. yields and concerns over the outlook for government spending.

Curry restaurant chain CoCo Ichibanya will introduce a late-night surcharge for the first time from September 1 and raise prices on a dozen toppings as higher ingredient, packaging and labor costs put pressure on operations.