TOPIX rose for a sixth straight session in Tokyo trading on the 12th, gaining 38 points from the previous day to 4,139 and setting a new record high for the first time in about a month. The backdrop included broader buying of stocks that had reported strong earnings and gains across a wide range of sectors.
TOPIX rose for a sixth straight session in Tokyo stock trading on the 12th, gaining 38 points from the previous trading day to 4,139 and setting a new record high for the first time in about a month. Gains in semiconductor-related stocks and buying of companies that had recently reported strong earnings spread to stocks across a wide range of sectors.
Yokohama Rubber announced an upward revision to its earnings outlook for the fiscal year ending December 2026 on the afternoon of the 10th and reached an all-time high. Monogatari Corporation also announced an increase in its dividend for the fiscal year ending June 2027, setting a new all-time high.
According to figures compiled by The Nikkei, 70% of the TSE Prime-listed companies with March fiscal year-ends that announced results for the April-June quarter reported higher net profit year on year. As strong earnings spread, 60% of TSE Prime stocks rose on the 12th.
Defense-related stocks were also bought. IHI rose 5%, while Mitsubishi Heavy Industries and Sumitomo Heavy Industries also gained. Hirotake Tsuboi (坪井裕豪), chief strategist at Daiwa Securities, said, "Buying has come into stocks being reassessed in response to heightened geopolitical risks."
TOPIX has performed better than the Nikkei Stock Average since the end of May. Some analysts noted that TOPIX is less affected by AI and semiconductor-related stocks and more readily reflects trends across a broad range of sectors.