In morning trading on 9 November, the Nikkei Stock Average staged its first sharp rebound in 6 sessions, closing the morning at ¥59,411.34, up 3.44% and briefly gaining more than ¥2,000. Buying spread across AI-related stocks against the backdrop of the US midterm elections.
In morning trading on 9 November, the Nikkei Stock Average staged its first sharp rebound in 6 sessions, standing at ¥59,411.34 at the morning close, up ¥1,976.57 from the end of the previous week. The gain briefly exceeded ¥2,000, with buying dominant from the start of trading.
The move was driven by sharp gains in both the Nasdaq Composite and SOX in the US market on the 6th, prompting broad-based buying in Tokyo, particularly in AI- and semiconductor-related stocks. Advantest contributed approximately ¥310 to the Nikkei's rise. On the TSE Prime Market, 1,479 stocks rose and 59 fell, while TOPIX climbed 126.84 points to 3,834.83.
The decline at the end of the previous week on the 6th was ¥3,643.13, so the morning's gain amounted to slightly more than half of that loss. As companies reached the peak of the earnings announcement season, stocks that announced upward revisions or dividend increases also attracted buying, while Mitsui Fudosan fell sharply after reporting lower revenue and profit for the April-September period. Going forward, the strength of the afternoon recovery and the direction of discussions on US AI regulation are expected to remain key market focuses.