US AI and semiconductor stocks and the Japanese market continued to fluctuate amid concerns about a potential bubble collapse. This article summarizes movements in major indexes and contributing stocks from 5 to 7 October.
In the US market, the Dow started 5 October at 51,267, up $90 from the previous day, as sentiment in the equity market recovered on softer crude oil prices and an improvement in the ISM non-manufacturing index. On 6 October, long-term interest rates fell and buying focused on AI-related stocks, sending the Dow to a close of 51,521, up $253 on the day. On 7 October, long-term interest rates rose again to a high level, and the Dow fell back by $342 to 51,179 at one point.
The Nasdaq moved mainly among stocks with high technology exposure. It was reported to have reached a new record high during the day on 5 October, held onto its gains on 6 October, and then began to trend lower on 7 October. Among individual stocks, movements in AI-related semiconductor stocks such as AMD attracted attention, while the market also focused on companies collaborating with Google.
In Japan, the Nikkei 225 rose sharply on 5 October to ¥69,946, then closed at ¥70,683 on 6 October and ¥70,035 on 7 October. AI- and semiconductor-related stocks ranked among the largest contributors, accounting for approximately 58% of total contribution as of 10/5. The TOPIX and JPX Prime 150 indexes also rebounded and rose, but the Nikkei turned slightly lower on 10/7 as investors took profits.
US interest-rate trends were a major influence on the market backdrop. On 10/7, the US long-term interest rate rose to 5.36%, while movements in crude oil markets also heightened uncertainty. These factors caused the momentum of AI and semiconductor stocks to fluctuate, with changes in their contribution levels observed in both the US and Japanese markets.