The Nikkei 225 rose for the first time in 3 days in the Tokyo market on 29 October, closing up ¥705.28 at ¥64,659.47. A succession of earnings announcements from AI- and semiconductor-related companies was followed by heavy trading linked to rebalancing toward the close.
The Nikkei 225 rose for a third consecutive session in the Tokyo stock market on 29 October, closing up ¥705.28 at ¥64,659.47. The market moved in response to a succession of earnings announcements from AI- and semiconductor-related companies.
At the close, orders related to changes in the composition of the Tokyo Stock Price Index (TOPIX) expanded, pushing trading value on the TSE Prime Market to ¥13.8657 trillion, the highest level in 4 months.
Buying led in the morning, while market disruption continued following earnings announcements, including those released the previous day. The rebound in semiconductor stocks also appears to have contributed to the move.
Market observers pointed to trends in AI- and semiconductor-related stocks and increased trading associated with TOPIX constituent changes as contributing to the Nikkei 225's movement.