Service-related stocks reached year-to-date highs on the Tokyo stock market on the 24th, while content and software stocks were bought during the market's recovery phase. With the Nikkei average continuing to decline and the market-wide recovery remaining sluggish, funds rotated into other areas.
On the Tokyo stock market on the 24th, the Nikkei Stock Average fell ¥488 from the previous Friday to ¥65,528. By contrast, the Services sector rose 1% from the previous Friday, reaching a year-to-date high.
As the market-wide recovery remained sluggish, funds were said to have flowed into stocks less vulnerable to the impact of the situation in the Middle East and interest rate trends in Japan and the United States. As a result, the relative strength of service-related stocks stood out.
Against the backdrop of movements in the Nikkei average, the article reports on a phase in which gains in service-related stocks supported a partial recovery in the market. In a market environment that may be affected by US corporate earnings and international events, attention is focused on the performance of individual stocks.