The Nikkei extended its gains in the Tokyo stock market on the morning of the 29th on favorable buying of AI-related stocks, while the spread of declines in South Korean stocks capped gains, sending TOPIX lower for a second straight session.
In the Tokyo stock market on the morning of the 29th, the Nikkei Stock Average rose ¥177.09 from the previous day to ¥64,131.28, with the gain briefly exceeding ¥800. Advantest, a leading AI-related stock, became a buying catalyst after announcing an upward revision to its earnings outlook.
Buying of AI-related stocks spread to Ibiden and Sumitomo Electric Industries, among others, while moves in the US market provided support for semiconductor-related shares. There was a view that gains in the Nasdaq Composite and the SOX Index supported semiconductor stocks.
However, when the KOSPI fell following Samsung Electronics' finalized results, AI-related stocks including SoftBank Group and Tokyo Electron came under selling pressure in the Tokyo market, and the Nikkei briefly edged lower. Alphabet's results showed negative free cash flow, causing its share price to fall sharply in the US market.
TOPIX was down 0.30% at 3,979.89 at the morning close, while the JPX Prime 150 ended the morning session lower. As of the morning close, trading value on the TSE Prime Market was approximately ¥4.475 trillion and trading volume was approximately 1.03046 billion shares. There were 478 advancing stocks, 1,024 declining stocks and 47 unchanged stocks.