In the Tokyo stock market on the morning of 9 November, the Nikkei 225 rebounded sharply, closing at ¥59,411.34, while the TOPIX stood at 3,834.83 in the upper end of its range. Reports said buying to recover losses spread among stocks considered undervalued, with a reaction to concerns over AI-related regulations following the US midterm elections also contributing to the move.
In morning trading on Monday the 9th, the Nikkei 225 rebounded sharply in the Tokyo market, ending ¥1,976.57 above the previous Friday’s close at ¥59,411.34. Buying driven by perceptions of reasonable valuations was dominant from the opening, and the market’s rebound was pronounced.
At the same time, the TOPIX was up 126.84 points at 3,834.83. Gains in related stocks and buying of companies that had reported strong earnings helped lift the market, with moves to recover the previous Friday’s losses gaining momentum.
News reports said some related stocks were bought following gains in US technology stocks, spreading buying to recover recent losses. Views on the market’s future outlook remained divided.
Several reports on the morning’s market action focused on the spread of buying in undervalued stocks, while also noting that external factors, including concerns over tighter regulation of AI-related businesses, were being viewed as drivers of short-term market fluctuations.