Tokyo Stock Market Rebounds to 32,750.41 Yen, But Profitable Selling Near 33,000 Yen

Stock Market Rebounds in Tokyo as Nikkei Average Hits 32,750.41 Yen

By: Professional Journalist

The Tokyo stock market saw a rebound as the Nikkei Stock Average rose to 32,750.41 yen, marking an increase of 182.30 yen from the previous trading day. Reflecting a trend seen in the US stock market over the weekend, stocks contributing significantly to the index showed robust performance. However, as the stock approached the psychological benchmark of 33,000 yen, some profit-taking was observed. The accompanying photo was taken in Tokyo last December (2023 Reuters / ISSEI KATO)

The Nikkei average initially surged by 250 yen, reaching a peak of 32,913.31 yen after a subsequent increase of 345 yen. However, the pace of increase gradually slowed down, with the price stabilizing around 32,700 yen.

In after-hours trading, all three U.S. stock futures indexes exhibited weakness. This came in the wake of rating agency Moody’s decision to lower the rating outlook for US bonds on the 10th, alongside lingering concerns about a potential US government shutdown.

Tomoichiro Kubota, senior market analyst at Matsui Securities, commented, “The potential impact of these rating adjustments on the US stock market tonight remains uncertain and is likely to exert downward pressure.”

During the morning session, TOPIX closed at 2,342.72 points, showing a 0.26% increase. The trading value on the TSE primary market amounted to 2,018,027 million yen. Of the 33 industries listed on the TSE, 22 observed price gains, including warehousing and transport, other products, rubber products, insurance, and banking, while 11 industries, including shipping, chemical industry, and shipping, experienced price declines.

Notable among the major stocks, Tokyo Electron (8035.T) and Fast Retailing (9983.T) saw increases of over 2% following upward adjustments to their full-year earnings forecasts on the 10th. Conversely, Shiseido (4911.T) recorded a 14% decline after revising its outlook downward, while Nissan Chemical (4021.T) also fell by over 7%. A domestic securities strategist noted, “There is a clear divergence in trading based on company performance.”

In terms of the number of ups and downs in the main TSE market, 684 issues rose (41%), 927 fell (55%), and 46 remained unchanged (2%).

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On the Tokyo stock market, the Nikkei Stock Average rebounded to 32,750.41 yen, up 182.30 yen from the previous business day. Continuing the trend in which the three major indices rose in the US stock market last weekend, stocks with high contributions to the index were generally firm. However, as the stock approached the psychological milestone of 33,000 yen, there were some profitable selling. The photo was taken last December in Tokyo (2023 Reuters / ISSEI KATO)

TOKYO (Reuters) – On the Tokyo stock market, the Nikkei Stock Average rebounded to 32,750.41 yen, up 182.30 yen from the previous trading day. Continuing the trend in which the three major indices rose in the US stock market last weekend, stocks with high contributions to the index were generally firm. However, as the stock approached the psychological milestone of 33,000 yen, there were some profitable selling.

The Nikkei average rose 250 yen, then rose 345 yen to hit a high of 32,913.31 yen. After that, the rate of increase gradually narrowed, and the price continued to trade around 32,700 yen.

All three U.S. stock futures indexes weakened in after-hours trading. On the 10th, the rating agency Moody’s lowered the rating outlook for US bonds, and concerns about the US government shutdown are also smoldering.

Tomoichiro Kubota, senior market analyst at Matsui Securities, said, “It is unclear how much the ratings will affect the US stock market tonight, and it is likely to weigh on the market.”

TOPIX closed the morning session at 2,342.72 points, up 0.26%. The trading value on the TSE primary market was 2,018,027 million yen. Of the 33 industries on the TSE, 22 industries saw an increase in prices, including warehousing and transport, other products, rubber products, insurance, and banking, while prices fell in 11 industries, including shipping, chemical industry, and shipping .

Among the big stocks, Tokyo Electron (8035.T), which issued upward revisions to its full-year earnings forecast on the 10th, rose more than 2%, as did Fast Retailing (9983.T), Advantest (6857 .T) , and TDK ( 6762.T) are solid. On the other hand, Shiseido (4911.T), which revised its outlook downward, fell 14%, and Nissan Chemical (4021.T) fell more than 7%. “There is a clear divide between buying and selling based on performance,” said a domestic securities strategist.

In terms of the number of ups and downs in the main TSE market, 684 issues rose (41%), 927 issues fell (55%), and 46 issues remained unchanged (2%).

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