The Nikkei 225 rebounded, rising 1.26% from the previous day, while the TOPIX fell 0.02%, marking a slight decline. Large-cap growth stocks drove the broader market, highlighting the divergence between the indexes.
The Nikkei 225 rebounded, rising 1.26% from the previous day, while the TOPIX posted a modest decline of 0.02%, resulting in different performance between the two indexes. The concentration of buying in specific themes suggested that the move into domestic-demand and value stocks would be limited. If the divergence between the indexes continues, stocks included in the TOPIX may be prone to selling by investors waiting for a rebound.
The market maintained its strength, driven by large-cap growth stocks, but stock selection became more pronounced and the breadth of the overall market remained limited. The focus going forward will be on whether the bias toward theme stocks continues, while a cautious view is warranted on domestic-demand stocks.