Amid a sharp decline in the Nikkei 225, 30 stocks hit all-time highs this week. Key names included AMIYA, Oncolys BioPharma and Nippon Yusen, with each recording a new high in its share price.
In Japan’s stock market this week, the Nikkei 225 fell sharply, down ¥1,009 from the previous weekend to ¥64,011. Even as the market as a whole declined, the number of stocks hitting all-time highs reached 30. With no previous resistance levels, these so-called stocks with unlimited upside attracted attention.
Key stocks hitting all-time highs included AMIYA, after announcing support for the introduction of the UniFi series; Oncolys BioPharma, as its share price was driven higher by the sales impact of Telomelysin and expectations of its inclusion in TOPIX; and HAGIHARA INDUSTRIES, which was seen as benefiting from strong third-quarter results and the continuation of its shareholder benefit program. Life Corporation, which announced a tender offer for Albis, and Nippon Yusen, whose share price was driven higher after Nomura Securities raised its target price, also hit all-time highs.
In addition to 16 stocks that continued to update their all-time highs from the previous week, the list included Tomen Devices and Toyota Tsusho. By sector, stocks hitting new highs were identified across several sectors, including information and communications, wholesale trade and banking.
*The article is based on information as of January 2024 and covers stocks listed on the Tokyo Stock Exchange Prime, Standard and Growth markets.