★ Top 10 Popular Themes

1 Semiconductors

2 Physical AI

3 Drones

4 Data Centers

5 Defense

6 Semiconductor Manufacturing Equipment

7 Artificial Intelligence

8 TOPIX Core 30

9 JPX-Nikkei 400

10 Storage Batteries

"Yen Appreciation Beneficiaries" ranked 19th in the popular theme rankings compiled by Minkabu and Kabutan.

The market focused on central bank meetings this week. At the Bank of Japan's April 27-28 policy meeting, the central bank kept interest rates unchanged as expected, though three board members dissented, fueling expectations for an early hike. The yen briefly strengthened before reversing course as the Federal Open Market Committee meeting on April 28-29 saw rate cut expectations recede, driving the dollar to a 21-month high of 160.70 yen on April 30.

The trend shifted that evening following coordinated warnings from Japanese officials. Finance Minister Satsuki Katayama told reporters that "the timing for decisive measures is approaching," while Vice Finance Minister for International Affairs Atsushi Mimura issued what he called a "final evacuation warning." The rare dual-level warning sparked yen buybacks, pulling the pair down to the 159 yen level before it surged further to 155.50 yen. The Nikkei reported on May 1 that the government and the BOJ had conducted yen-buying intervention.

While Middle East tensions continue to support safe-haven dollar buying, keeping the rate around 157 yen, intervention speculation has pivoted investor focus toward yen appreciation beneficiaries. In Tokyo trading on May 1, KOBE BUSSAN <3038>, Nitori Holdings <9843>, and Seria <2782> gained on expectations of reduced import costs. NICHIREI <2871> and Nippon Paper Industries <3863> also remained firm.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.