Japan equity morning memo: Preview of key factors to watch next week (30 July)

研报英文原文证据摘录

Japan equity morning memo: Preview of key factors to watch next week (30 July)

Japan equity morning memo: Preview of Global Markets Research 30 July 2026

key factors to watch next week (30 July)

EQUITY: JAPAN STRATEGY

Research AnalystsUS/Japan AI and semiconductor earnings, FOMC

Macro strategyfollow-up communication, GPIF investment report

Tomochika Kitaoka - NSC

tomochika.kitaoka@nomura.comQuick Note +81 3 6703 1815

Starting 1 August, Trump Media will begin selling faster access to President Trump's

posts. Hedge funds and other investors are expected to subscribe to the service. The

Michigan US Senate Democratic primary election on 4 August is heating up. The US

Treasury will release its quarterly refunding announcement on 3 August, followed by

detailed issuance plans on 5 August. Fed officials are also likely to make numerous public

statements as the data releases will come immediately after the FOMC meeting. Data

releases include advance Q2 GDP on 30 July, the Q2 Employment Cost Index on 31 July,

July ISM Manufacturing PMI on 3 August, the June JOLTS report on 4 August, and the

July employment report on 7 August. AMD and SpaceX are scheduled to report earnings

on 4 August, followed by SanDisk on 5 August. An AI conference will be held in Las

Vegas from 4–6 August.

In China, the focus will be on whether the Politburo meeting and the Beidaihe conference

that will start in late July result in economic support measures. The minimum deposit

requirement for trading leveraged ETFs linked to individual South Korean stocks will be

raised on 31 July.

In Japan, Prime Minister Sanae Takaichi is expected to issue instructions on 30 July to

lower the consumption tax, with Cabinet approval scheduled for early August. The BOJ is