In Monday's Japanese market, the Nikkei 225 showed signs of rebounding after the previous week's sharp decline, but fluctuated under the influence of AI-related companies and US earnings. News of Anthropic's prospectus disclosure supported market sentiment, while disappointment with Google's earnings and weaker Intel results later caused some downside.
Following the previous week's moves, the Japanese market opened higher at the start of the week before falling sharply and ending the week lower. The Nikkei 225 saw a temporary sharp decline on the 23rd, and the market remained in a downtrend throughout the week. On the 26th, the influence of the US market was limited, and the closing level moved slightly lower.
On the 27th, the Nikkei 225 rebounded sharply on positive developments in the US market and impetus from AI-related companies. Reports that Anthropic had disclosed a prospectus provided support, and the index recorded a gain of more than ¥1,000.
On the 28th, gains in US semiconductor-related stocks and South Korean semiconductor stocks spread to Japan, and the Nikkei 225 was temporarily up more than ¥1,000, although the closing gain was limited to around ¥700.
The rise continued on the 29th, but reports of disappointing Google earnings to be announced the following day prompted caution over their impact, even as the Japanese stock market remained firm.
On the 30th, disappointing Intel earnings coincided with a worsening outlook for Amazon's results, sending Japanese stocks sharply lower. In line with the plunge in US technology stocks, Nikkei 225 futures also fell sharply in overnight trading in Japan.
Looking ahead to early November, sentiment in Japan was expected to start weak depending on developments in the US.