Yomiuri 333 fell 1.5% from the previous week, while the Nikkei 225 rose approximately 3%. Large-cap technology stocks drove the market, with electric wire and semiconductor-related stocks among the top gainers, while pharmaceutical stocks remained weak.
Yomiuri 333, a Japanese equity index published by The Yomiuri Shimbun, fell 1.5% for the week. The Nikkei 225, meanwhile, rose approximately 3%, while TOPIX fell 0.9%, reflecting volatile moves among the major equity indexes. Broad-based declines on the 29th were partly attributable to ex-rights effects, while buying in AI-related and bank stocks on the 30th created further fluctuations in the market. After Micron's earnings release in October, AI-related stocks, including semiconductors and electronic components, posted notable gains and helped drive the Nikkei 225 higher.
While the Nikkei 225 rose sharply, Yomiuri 333 recorded only a modest gain relative to that move. Funds flowed into large-cap technology stocks, while small- and mid-cap stocks were more prone to selling. Yomiuri 333, which has a relatively high weighting in mid-cap stocks, consequently underperformed on a relative basis.
Among individual stocks, AI-related names including semiconductor, electric wire, and electronic component stocks ranked among the top gainers. Furukawa Electric, Sumitomo Electric, and Fujikura all rose by double digits. Major silicon wafer maker SUMCO surged after several securities firms raised their investment ratings. By contrast, NEXON Co.,Ltd. fell sharply ahead of the ex-rights date, while pharmaceutical stocks including Chugai Pharmaceutical and Daiichi Sankyo were also weak.
The effects of ex-rights dates and dividend payment timing varied by stock, and the performance of companies that paid special dividends at the end of September affected the market as a whole. The contrast between the performance of Yomiuri 333 constituents and AI-related stocks drew attention as a potential guide to weekly market trends going forward.