Japanese stocks rebounded on the 30th after 3 days, with the Nikkei 225 recovering to the ¥66,000 range. Buying spread, particularly across AI and semiconductor-related stocks, while bond yields declined and the yen rose against the US dollar.
Stock prices rose in the Japanese market on the 30th, rebounding after 3 days. The Nikkei 225 rose by more than ¥1,400 at one point in the afternoon, its largest one-day gain, and ended at ¥66,753.72. The TOPIX closed at 4,108.65, up 1.7% from the previous day. A broad range of stocks, including banks, trading companies, information and telecommunications companies, and nonferrous metals, were bought, while AI-related and semiconductor-related stocks also supported the market.
In the bond market, long-term yields declined, and the government bond auction was absorbed without disruption. The bid-to-cover ratio at the 2-year bond auction was 3.89 times, above the average for the past year, prompting views that supply and demand had become more stable. With US economic data releases ahead, experts said the medium-term direction of interest rates remained uncertain.
The yen's appreciation temporarily accelerated, with dollar/yen trading in the low to high ¥156 range. Against a backdrop of reduced expectations for US interest-rate hikes, the yen's move toward appreciation also paused at times, amid quarter-end real-demand flows and ahead of the release of key economic indicators.
Among individual stocks, gains in AI and semiconductor-related names such as Kioxia and Nidec stood out. Alongside rising expectations for an economic recovery, investors also showed greater awareness of valuation-related cheapness. Market participants are watching upcoming Tankan surveys and comments in corporate earnings releases.