As the Nikkei 225 rebounded sharply this week, the number of stocks updating their all-time highs reached 73. Major names included Rengo, Tokei Computer, Epson and Ichinen Holdings.
The Nikkei 225 rebounded by more than approximately ¥1,400 from the previous weekend this week, with buying led by stocks with strong earnings. As a result, 73 stocks updated their all-time highs, showing a "blue-sky" move in which previous resistance levels disappeared and stock prices had no ceiling.
Among the major stocks reaching new highs, Rengo posted a 73% year-on-year increase in first-quarter operating profit, with first-half progress against its full-year plan reaching 72%. Otsuka Holdings released Phase 3 data for a treatment for IgA nephropathy. Tokei Computer increased its forecast for the year-end dividend on a pre-stock-split basis. Tsurumi Manufacturing raised its forecast for net profit on the back of improved first-half profit margins. Brother Industries was favorably received after results exceeded its previous forecast, while Seiko Epson was bought on expectations for its outlook for the current fiscal year and its share buyback.
Other names included Macnica Holdings, Epson, Nagase & Co. and Ichinen Holdings. By sector, stocks continued to update their all-time highs across a wide range of sectors, including machinery, electrical equipment, wholesale, retail and banking. The table organizes the number of stocks reaching new highs by industry, including 10 in machinery, 9 in electrical equipment, 20 in wholesale, 4 in information and communications, and 2 in services.