After falling last Friday, the Nikkei average rose again yesterday, recovering the 60,000 range after gaining about 500 points shortly after trading began. Market participants said that buying to recover losses in AI-related stocks, along with lower oil prices, also provided support.
The Nikkei average, which fell sharply last Friday, continued to rise yesterday. It rebounded by about 500 points shortly after trading began, recovering the 60,000 range. Buying to recover losses spread throughout the day, expanding the gain.
Uncertainty had spread, particularly around AI-related stocks, against the backdrop of the U.S. midterm elections the previous day, but signs of a recovery in share prices were observed. Market participants said that buying had emerged to reverse the declines in AI-related stocks.
Falling crude oil futures prices are also seen as having contributed to the recovery in share prices. Overall, the view emerged that buying to recover losses and fluctuations in resource prices supported the Nikkei average's recovery.