Triggered by weaker-than-expected U.S. employment data, buying of AI- and semiconductor-related stocks increased in the Tokyo market, and the Nikkei 225 recovered to the ¥70,000 range for the first time in approximately 3 months during trading. The morning close was ¥70,037.61.
In Tokyo trading on Monday the 5th, buying spread to AI (artificial intelligence)- and semiconductor-related stocks as expectations for an early U.S. rate hike receded, and the Nikkei 225 recovered to the ¥70,000 range during trading. The morning close was ¥70,037.61, up ¥1,728.15 from the previous weekend.
In the September employment report released by the U.S. Department of Labor on the 2nd, nonfarm payroll growth fell short of market expectations, while payroll figures for July and August were revised downward. As a result, expectations for an early Federal Reserve rate hike receded, leading major U.S. stock indexes higher.
In Tokyo on the 5th, following this trend, AI- and semiconductor-related stocks with a large contribution to the Nikkei 225 rose sharply. Market participants pointed out that concerns over higher long-term interest rates had not been dispelled and that the Nikkei 225 could trade around ¥70,000.