The Nikkei Average ended sharply higher on 28 October, with buying in AI-related stocks driving the market. The Nikkei closed at ¥63,954.19, with 85 advancers, 139 decliners and 1 unchanged stock.
The Nikkei Average was dominated by buying from the morning, against a backdrop of gains in U.S. semiconductor stocks the previous day, and continued to trend higher from the open. Gains widened in the afternoon, and the index briefly rose as much as approximately ¥1,040. The Nikkei Average ended trading up ¥685.82 from the previous day at ¥63,954.19.
Top contributors included Advantest, Tokyo Electron, SoftBank Group, Kioxia Holdings and Ibiden, which pushed the Nikkei higher. The bottom contributors were Konami, Nitto Denko, Bandai Namco Holdings, KDDI and Fast Retailing. Strength in AI-related stocks was cited as a factor lifting the broader market.
South Korean SK hynix reported consolidated net profit for July–September 2026 at 3.2 times the year-earlier quarter, providing a tailwind for the market, and its stock briefly rose 11%. South Korea's KOSPI also surged in tandem, and the gains spread to Japanese AI- and semiconductor-related stocks.