BayCurrent and SHIFT hit the daily limit on earnings, while GO plunged despite solid results, and the Nikkei rebounded for the first time in seven sessions.
The Nikkei rebounded for the first time in seven sessions in a broad-based advance. With concerns about AI-related stocks lingering in the US market, buying focused on sectors such as healthcare, lifting the Dow. Semiconductor-related stocks, meanwhile, saw a relatively sluggish recovery, and the rebound in AI-related stocks was limited overall.
Among individual stocks, BayCurrent and SHIFT surged and approached the daily limit after their earnings announcements. BayCurrent reported a sharp year-on-year increase in operating profit for the first half and outlined its goal of achieving its medium-term plan. SHIFT was buoyed by its earnings as well as reports of new investment-related developments.
Oasis Management, considered an activist shareholder, was revealed to hold a large stake in Takara Holdings. Its holding stood at 5.09%, and the market is watching developments including any future proposals to sell businesses.
GO shares fell sharply despite the company's solid earnings. Adjusted EBITDA in the first quarter rose at a faster pace than in the previous year, but this was seen as indicating a lack of forward-looking catalysts, and some viewed the results as marking the exhaustion of positive catalysts.