The Nikkei 225 rose ¥2,203 from the previous day to ¥68,956.72 in the Tokyo market on 1 October, reaching its highest level in about one and a half months as buying concentrated in AI- and semiconductor-related stocks.
On 1 October, the Nikkei 225 rose ¥2,203.00 from the previous day in the Tokyo market, closing at ¥68,956.72, its highest level in about one and a half months. Buying concentrated in AI- and semiconductor-related stocks against the backdrop of Micron Technology's earnings outlook exceeding market expectations.
The contribution to the rise was highly concentrated. Advantest, a major semiconductor testing equipment manufacturer; Tokyo Electron, a major semiconductor production equipment manufacturer; and memory giant Kioxia Holdings each rose approximately 6–10%. These stocks accounted for more than half of the Nikkei 225's gain, while SoftBank Group also rose sharply.
Micron's revenue outlook announced on 30 September significantly exceeded market expectations, indicating approximately $61.5 billion and supporting the market. Growing HBM demand provided a buying incentive for semiconductor-related stocks. In addition, the company's policy of expanding capital investment was viewed as positive for Japanese equipment manufacturers.
The Bank of Japan's Summary of Opinions reduced expectations for a rate hike, leaving financial stocks weak. A slowdown in the rise of the US PCE price index also weighed on financial stocks. With the US employment report due on the 2nd, the market was increasingly focused on assessing future earnings trends and oil-price movements.