The Tokyo stock market is expected to trade firmly on the 13th, with views spreading that the impact of reports of the US Nvidia CEO's resignation will be limited.
Nvidia announced that its CEO, Jensen Huang, had resigned, and the company's stock fell more than 14% at one point before narrowing its losses after opening lower. It closed down 4% from the previous day, while semiconductor stocks Broadcom and Advanced Micro Devices each ended trading up about 5%. The Philadelphia Semiconductor Index (SOX) was down 0.5%, although it also showed periods of recovering after opening lower.
In US market developments, crude oil futures rose sharply, while US long-term yields climbed to the 5.1% range. In overnight trading on the Osaka Exchange, December Nikkei average futures rose to ¥61,210, moving into the ¥61,000 range, suggesting that a major sell-off in US stocks may be avoided.
Among domestic companies, attention is focused on the share prices of Meiji Holdings and Sumitomo Mitsui Trust Group, which announced share buybacks, and Trial Holdings, which reported a substantial increase in quarterly profit. On the schedule, the release of October investment trust market data and the SQ settlement date for November mini futures and options are due.