■ Inflation peak out Expectations and buybacks before the settlement of accounts are significantly higher
This week's emerging markets have risen sharply. Investor sentiment has improved against the backdrop of expectations for inflation peaking out and a decline in caution about a sharp rate hike at the US Federal Open Market Committee (FOMC) in July as long-term US interest rates remain stable. It seems that the repurchase of sellers has progressed ahead of the full-scale announcement of financial results for the April-June period of major Japanese and US companies, and while the Nasdaq Composite Index has risen sharply every day, the Tokyo market is also centered on growth stocks. Buybacks accelerated. The weekly rate of increase/decrease was + 4.20% for the Nikkei average, + 5.17% for the Mothers index, and + 5.25% for the TSE growth market index.
Individually, weekly, Visional < 4194 > + 14.8%, Free < 4478 > + 5.6%, Bengo4.com < 6027 > + 5.5%, WealthNavi < 7342 > + 7.7%, Medley < 4480 > + 7.8%, Appier Group < 4180 > + 5.1%, CellSource < 4880 > + 9.9%, GNI Is + 11.6%, and major stocks are generally strong. Of the top 20 stocks on the TSE growth market by market capitalization, only JTOWER < 4485 > and TKP < 3479 > fell in the week. In addition to the latest IPOs (initial public offerings) such as EDP < 7794 > and Tsubota Laboratory < 4890 >, PSS has become popular since the beginning of July due to the re-expansion of the new coronavirus infection in Japan. < 7707 > is included. Sportsfield < 7080 >, which has significantly revised its earnings forecast, had the highest rate of the price increase. ■ Focusing on GAFAM financial results, 3 IPO companies in the TSE growth market
Will emerging markets be volatile next week? The FOMC will be held from 26th to 27th. There is already a consensus that the rate will be raised by 0.75pt from the statements of senior officials such as the Federal Reserve Board (FRB) director Waller. In fact, the 0.75pt rate hike is almost certainly due to factors such as the decline in the long-term expected inflation rate of the University of Michigan Consumer Confidence Index. On the other hand, the market has factored in a 0.75pt rate hike as a probability of 50% or more for the September rate hike, but it has declined since the announcement of the US June Consumer Price Index (CPI). Please note that the market is likely to react negatively if Fed Chair Powell has implications for the September meeting at a press conference with a 0.75pt rate hike and, in some cases, a 1.00pt rate hike. Also, pay attention to the financial results of large tech companies known as "GAFAM" by Alphabet, Microsoft, Meta Platforms, Apple, and Amazon.com. The financial results of Snapchat and Twitter have been disappointing, suggesting a slump in advertising demand amid growing concerns about a recession. There is a growing sense of caution about the financial results of Alphabet and Meta, which also develop the advertising business, and I would like to pay close attention to the fact that they have a great influence. It is speculated that the repurchase of sales before the settlement of accounts has come to a halt, and next week it is likely that emerging stocks will take a short break ahead of a major event.
Individually, we focused on domestic demand-related stocks whose business performance and charts seemed to be relatively stable, and focused on CareNet < 2150 > , BuySell Technologies < 7685 > , Hyuga < 7133 > , and AZOOM.We are paying attention to < 3496 > , Extreme < 6033 > , Impact HD < 6067 > , and FreakOut HD < 6094 > .
At IPO, energy < 5034 >, which operates a big data platform for human flow data on the 28th, and HOUSE < 5035 >, which develops, operates, and maintains information systems, will handle a monthly fashion rental service on the 29th. Air Closet < 9557 > will be newly listed on the TSE Growth Market. Kurashicom < 7110 >, which sells fashion accessories on the EC site, has entered the book building (ABB) period from the 20th (~ 26th).
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