"Nikkei" rebounds 195 points in half a day, Tokyo Electric continues to drop 5%, car stocks are weak, and bank stocks continue to rise

Japan's Finance Minister Katsuyuki Kitagawa stated that he does not believe there is a divergence between the government and the Bank of Japan regarding the view of Japan's mild economic recovery. Previously, Bank of Japan Governor Kazuo Ueda hinted at a possible interest rate hike this month, contradicting the government's stance on loose monetary policy. The yen fell slightly by 0.1% during the Asian session, with the dollar rising to 155.59 yen. The Nikkei index opened 191 points higher this morning (2nd) after a sharp decline the previous day, fluctuating narrowly in the early market, and closing up 195 points or 0.4% at 49,499.

Major automotive stocks were weak, with Mitsubishi Motors (7211.JP), Honda (7267.JP), Toyota (7203.JP), and Nissan (7201.JP) falling between 0.9% and 1%.

Tokyo Electric Power Company (9501.JP) continued to decline by 5.3% after a nearly 10% drop the previous day, SoftBank (9984.JP) fell by 2%, while Fast Retailing (9983.JP) rose by 1.4%.

Interest rate-sensitive major bank stocks continued to rise, with Sumitomo Mitsui Financial (8316.JP) and Mitsubishi UFJ Financial (8306.JP) each rising by 1.8% to 1.9%