日经指数收涨3.0%至51832.80点，芯片和重工股领涨；盘中一度突破52000点。 2026 年的第一个交易日，日本日经指数盘中大涨 3%，芯片相关股票领涨，投资者无视美国在委内瑞拉 采取军事行动的潜在影响。东证股价指数创下历史新高。 IwaiCosmo Securities首席策略师Kazuaki Shimada说："市场转为偏好风险，似乎美国对委内瑞拉采取行 动的不确定性已经消除。""周一的走势反映了去年日经指数的情况，芯片相关股票领涨市场。这可能也 会成为今年的趋势，"Shimada 说。 日本央行行长植田和男利用新年伊始首次公开露面的机会，在对私人银行家的讲话中强调了他将继续提 高基准利率的意图。 "我们将随着经济和通胀的改善继续提高利率。"植田和男周一在全国银行协会主办的新年会议上说 道，"适当调整货币宽松政策将有助于实现通胀稳定的目标和更长期的经济增长。" 这些评论发表于最近一次加息约两周后，明确表明植田在将利率提升至1995年以来的最高水平后，并未 停止缩减货币宽松政策。就在讲话前不久，日本基准10年期国债收益率继续攀升，触及自1999年以来的 最高水平，部分原因是市场预期利率将进一步上涨。 ...

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, has expressed his intention to continue raising the benchmark interest rate as the economy and inflation improve [1][3]. Group 1: Interest Rate Policy - Ueda stated that appropriate adjustments to monetary easing policies will help achieve inflation stability and long-term economic growth [1][3]. - The Bank of Japan raised the benchmark interest rate to 0.75% on December 19, marking the highest level in 30 years [4]. - Most observers expect the next interest rate hike to occur around mid-year, although some believe it may happen sooner due to the weak yen [4]. Group 2: Market Reactions - Following Ueda's comments, the yield on Japan's benchmark 10-year government bonds continued to rise, reaching the highest level since 1999, driven by market expectations of further rate increases [1][3]. - The yen's exchange rate against the dollar hit 157.30, its weakest level in two weeks, with market participants considering the 1 dollar to 160 yen threshold as a key factor in the Bank of Japan's recent rate decision [4]. Group 3: Upcoming Policy Decisions - The Bank of Japan is scheduled to announce its next policy decision on January 23 [2][4].

Core Viewpoint - The article highlights significant volatility in the Asia-Pacific market, particularly in government bonds and foreign exchange, with the Indian rupee hitting a record low against the US dollar and widespread declines in bond markets across several countries [1][3][6]. Group 1: Currency Market Movements - The Indian rupee fell to a record low of 88.49 against the US dollar, with concerns that it could breach the 90 mark [1][4]. - Other currencies, including the euro, pound, Australian dollar, Swiss franc, Korean won, and Indonesian rupiah, also experienced declines [1]. - The Thai central bank announced measures to address the volatility of the Thai baht and monitor its exchange rate closely [5]. Group 2: Bond Market Reactions - Japanese government bonds saw significant declines, contributing to a broader sell-off in the Asia-Pacific stock markets, with the Nikkei index dropping by 1.89% [6]. - In Malaysia, short-term government bond yields surged, indicating a sharp drop in bond prices [3][4]. - South Korean government bonds also experienced declines, with many showing a drop of over 1% [3]. Group 3: Economic Implications - The Bank of Japan indicated a hawkish stance, suggesting potential future interest rate hikes, which could impact inflation and economic growth [6]. - Analysts warn that Japan's position as a major creditor could lead to market disruptions if it sells off US Treasury bonds to support the yen [7]. - The potential for a significant appreciation of the yen in 2024 could trigger global market volatility, particularly if capital flows reverse [7].

Core Viewpoint - The Bank of Japan is gradually adjusting its monetary easing policy, indicating a cautious approach to raising interest rates as inflation and wage growth mechanisms are recovering [1] Group 1: Monetary Policy Adjustments - The Bank of Japan is in the process of gradually adjusting the degree of monetary easing, reflecting a commitment to cautiously increase interest rates [1] - Governor Ueda stated that the mechanism of synchronized growth in inflation and wages is being restored, which supports the adjustment of monetary policy [1] Group 2: Economic Context - The meeting between Prime Minister Kishi and Governor Ueda comes as investors seek clarity on Kishi's stance on monetary policy and await details of the upcoming economic plan [1] - Japanese stock markets and government bond prices have seen significant declines, with the benchmark 10-year Japanese government bond yield reaching a 17-year high [1] Group 3: Currency and Economic Impact - The yen has depreciated, falling below the psychological level of 155 against the US dollar and reaching a historical low of 180 against the euro [1] - Governor Ueda mentioned that the central bank will closely monitor the impact of exchange rates on the economy and will work closely with the government [1]

Group 1 - The core viewpoint is that the Bank of Japan should continue to adjust its monetary easing policy if it can confirm that corporate positive behaviors are sustained [1]

Group 1 - The Bank of Japan's Governor Ueda Kazuo indicated that if the economy improves as expected, the central bank will continue to raise the benchmark interest rate, which has strengthened the yen [1] - Ueda stated that the central bank has lowered its economic and inflation outlook due to increased uncertainty, particularly related to trade policy risks, but still expects core inflation to gradually approach 2% in the latter half of the forecast period [1][2] - Japan's core CPI accelerated to 3.5% year-on-year in April, marking three consecutive years of meeting or exceeding the central bank's target, with expectations for May data to continue this trend [1] Group 2 - Ueda highlighted that Japan is experiencing a second round of supply shocks due to soaring food prices, which requires close monitoring, particularly the transmission effect of food inflation on core inflation [2] - The government plans to release more rice reserves to stabilize the market and has introduced energy subsidies covering gasoline, natural gas, and electricity to alleviate household financial pressure [2] - The Bank of Japan halved its growth forecast for the current fiscal year and postponed the timeline for achieving its inflation target by one year, which was interpreted as a dovish signal [3]

Core Viewpoint - The Bank of Japan's meeting minutes indicate that a member suggested the need for flexible adjustments to the degree of monetary easing to prevent overheating in financial activities [1] Group 1 - A member of the Bank of Japan expressed concerns about the potential overheating of financial activities [1] - The suggestion emphasizes the importance of adjusting monetary policy in a flexible manner [1]