The Nikkei 225 temporarily exceeded ¥67,000 on the 28th, but closed below ¥66,000 at the low on the final cum-rights day. Bank stocks rose, restaurant stocks advanced sharply and funds flowed into electric power stocks.
The Nikkei 225 temporarily exceeded ¥67,000 during the day on the 28th, but closed at ¥65,877, down ¥486 from the previous day, marking its first decline in 6 sessions. The index also temporarily rose above its 75-day moving average, but upside momentum was limited, and it fell below the ¥65,000 level by the close.
On the TSE Prime Market, 468 stocks rose and 1,039 fell. Although selling pressure was not broad-based across the entire market, declines spread. Bank stocks including Mizuho Financial Group and Sumitomo Mitsui rose, regional bank groups also performed strongly, and Corowide and F&LC were among the restaurant stocks that advanced sharply. Electric power stocks including Shikoku Electric Power and Hokuriku Electric Power attracted funds following Hokkaido Electric Power's upward revision.
Among AI-related stocks, declines in Ibiden, Lasertec and Socionext stood out, while Kioxia Holdings and Chugai Pharmaceutical were sold. Nidec hit its daily limit down following reports of speculation that its president would be dismissed.
As the September ex-rights date approaches, the apparent price levels of stocks targeted for dividend or other rights may fall. With the 5-day and 25-day moving averages close together, some market participants expect a rebound near ¥65,300 if prices decline and say attention should also be paid to the performance of large-cap stocks that have announced stock splits.