In Tokyo's stock market this week, the Nikkei rose for the fourth consecutive week, with its closing level recovering to ¥69,030, a four-week high. In the latter half of the week, however, it came under profit-taking pressure and briefly recovered the ¥70,000 level.
The Nikkei ended this week at ¥69,030, up ¥721 from the previous weekend, marking four consecutive weekly gains. A risk-on trend continued in the first half of the week, supported by semiconductor-related stocks. At the start of the week, the Nikkei briefly topped the ¥70,000 level, while profit-taking pressure intensified toward the latter half of the week.
The market moved sharply from day to day during the week. On 5 October, buying in semiconductor-related stocks led the market sharply higher, and the Nikkei rose substantially. On the 6th, it again came close to the ¥70,000 level amid buying of US technology stocks. From the 7th onward, gains were limited as profit-taking spread, and the market turned lower toward the close. On the 9th, despite the impact of declines in US technology stocks, dip-buying was limited.
In this week's market overview, TOPIX rebounded slightly following the announcement of its constituents under the new criteria. Among individual stocks, Fast Retailing at times weighed on the broader market, while semiconductor-related stocks were frequently seen influencing overall market movements.
The focus next week is expected to be whether the Nikkei can resume its upward trend. Earnings announcements from ASMホールディング and TSMC are due around the middle of the week, and the market's direction is likely to depend on their results. Numerous domestic and overseas economic indicators are also scheduled for release, requiring close attention to developments.