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KOBE BUSSAN and Nitori Holdings rise on yen-positive stocks amid currency intervention speculation
KOBE BUSSAN CO.,LTD. <3038> and Nitori Holdings Co., Ltd. <9843> shares trended higher as intense speculation of a yen-buying intervention by Japanese authorities fueled a rotation into yen-appreciation beneficiaries. The yen surged approximately 5 yen, jumping from the mid-160 yen range to the mid-155 yen level per dollar, a move the market largely attributed to government action. The currency's sharp rebound sparked buying in sectors that have struggled with high import costs. Kobe Bussan, a major food importer, and Nitori, which sources most of its furniture from overseas, are seen as prime "yen-strength plays." Retail Investors also targeted Seria Co., Ltd. <2782>, betting that a stronger currency will provide much-needed margin relief for discount retailers.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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