The Nikkei Average rebounded sharply in Tokyo trading on 5 October, closing at ¥69,946.86. During the session, it recovered to the ¥70,000 level for the first time in about 3 months.
The Nikkei Average rose sharply from the previous Friday's close in Tokyo trading on 5 October, ending at ¥69,946.86. During the session, it briefly recovered to the ¥70,000 level for the first time in about 3 months.
The weak employment data released in the US market the previous Friday caused expectations of an early Federal Reserve rate hike to recede, and the resulting rise in major stock indexes spread to the Japanese market.
Buying spread across the market that day, led by AI-related and semiconductor-related stocks, with buying orders seen in a wide range of issues. Developments in the crude oil market were also watched as another factor, but the article does not state a specific causal relationship.