The Nikkei 225 rebounded sharply on 10 November, closing at ¥60,459.58, up ¥1,684.08 from the previous day. It recovered the ¥60,000 level for the first time in 3 trading days following the sharp decline at the end of last week.
The Nikkei 225 extended its gains sharply on 10 November, closing at ¥60,459.58. At one point during the day, it was up approximately ¥1,900 from the previous close, while buying spread across the Tokyo Stock Exchange Prime Market and stocks rose broadly.
The market was driven by buying back of AI- and semiconductor-related stocks. Concerns about potential regulation of new data-center construction receded, clearly improving investor sentiment.
Reduced concerns over the situation in the Middle East and lower oil prices also provided support, with WTI falling to the $86-per-barrel range. Lower oil prices were seen as contributing to reduced manufacturing and logistics costs and were viewed as a positive factor for corporate earnings.
However, uncertainty over the outlook remains, and the market is expected to continue watching how regulations take shape and what impact they will have on earnings forecasts.