This week, the number of stocks reaching new all-time highs rose to 46, while AI- and semiconductor-related stocks rebounded despite the overall market decline. The stocks included Bronco Billy, BayCurrent and Yamaokaya.
The Nikkei Average fell ¥2,631 from the previous weekend to ¥62,693 this week, as selling led by AI- and semiconductor-related stocks intensified following declines in US technology stocks and South Korean equities. Against this backdrop, 46 stocks reached new all-time highs. New highs were attributed to limited resistance from past trading ranges, attracting attention as so-called stocks with unlimited upside.
The main stocks cited included Bronco Billy, Maruchiyo Yamaokaya, BayCurrent, Zensho Holdings and Yoshinoya Holdings. They reached new all-time highs on factors including positive assessments of strong results for the January-September period, policy expectations for the restaurant sector, and securities companies raising their price targets. JT and Recruit Holdings also reached new highs for a second consecutive week.
By industry, information and communications had the largest number, with 12 stocks, followed by 5 in wholesale and 6 in retail, among other sectors with multiple new highs. The stocks covered had newly listed shares as of January 2024 and were listed on the TSE Prime, Standard or Growth markets.