The long-term outlook for the Nikkei 225 has been revised sharply, with signs of a shift emerging in the trend that has driven AI-related stocks. The midterm election results and uncertainty surrounding the AI investment environment have been cited as the causes.
Artificial intelligence-related stocks have driven the market, but while the Democratic Party is expected to benefit from the US midterm elections, uncertainty surrounding AI investment is increasing, reports say. Views are spreading that developments at major semiconductor companies and the direction of regulation will affect the market outlook.
Daiwa Securities announced that it had postponed the timing for the Nikkei 225 to reach an unprecedented ¥80,000 from the end of 2026 to the end of 2027. Chief Strategist Tsuboi Yugo (坪井裕豪) pointed out that the pace of stock price gains could be slower than previously expected. Nomura Securities has presented an even more pessimistic scenario.
Views are strengthening that changes in the AI investment environment will determine future market movements, and the market is closely watching AI-related stocks and policy developments.