The market showed signs of a rebound after a sharp decline. Buying flowed into a particular stock after it simultaneously announced a dividend increase and an upward earnings revision, and its price at one point approached the limit-up level against a backdrop of higher revenue and profit.
Japan's market on 30 October was dominated by selling from the morning, following the previous day's decline in U.S. stocks, with notable declines centered on AI- and semiconductor-related stocks. The Nikkei Average fell more than ¥1,900 at one point and briefly dropped below ¥63,000.
In the afternoon, dip-buying emerged in some semiconductor-related stocks, and broader buying focused on solid earnings helped ease the market's overall decline. The Nikkei Average closed sharply lower from the previous day, while the overall tally was 105 advancers and 120 decliners.
By contribution to the Nikkei Average, Advantest, Tokyo Electron, SoftBank Group, Ibiden and TDK were among the lower contributors, while Fast Retailing, KONAMI, Recruit Holdings, Bandai Namco Holdings and KDDI ranked among the top contributors.
The “dividend-increasing stock” reportedly announced both an increase in its annual dividend from ¥80 to ¥90 and an upward earnings revision, attracting concentrated buying on expectations of higher revenue and profit.