The Nikkei 225 rebounded on the Tokyo Stock Exchange on the 10th, closing at ¥60,459, up ¥1,684 from the previous day. Buying to cover positions after the sharp post-US midterm election drop spread, and trading in JT shares was completed during market hours for the first time in 3 trading days.
Buying to cover positions after the previous day's sharp drop continued, and the Nikkei 225 rebounded sharply, closing at ¥60,459. At one point during trading hours, the gain approached ¥2,000.
Following the US midterm elections at the end of the previous week, selling of AI-related stocks spread, particularly among technology stocks. On the 9th, however, buying to cover positions emerged on the perception that prices were undervalued, and the Nikkei 225 rebounded by approximately ¥1,340. The same trend continued on the 10th.
Among individual stocks, trading in Japan Tobacco (JT) shares was completed during market hours for the first time in 3 trading days. The shares were bought from shortly after the open and closed at ¥5,500, up ¥231 from the previous day. They had closed at ¥5,269 on the 9th after being sold down to around the limit-down level.
The focus in the market is on whether buying to cover positions in stocks sold during the sharp decline will continue. US policy developments and AI regulation could affect Japanese equities through technology stocks. Future developments in JT may provide support for share-price stability depending on the operation of the asset-management framework surrounding its Russian business.