Yomiuri 333 was flat last week, while the Nikkei average edged higher. AI-related stocks were bought at times from the 27th to the 29th, but were broadly sold on the 30th. Among individual stocks, Advantest surged on a favorable response to its earnings, while many diversified electronics stocks plunged following their earnings announcements.
Yomiuri 333, published by Yomiuri Shimbun Online, posted only a modest weekly movement, while TOPIX was also broadly flat. The Nikkei average rose approximately 0.95%, but it was a week in which trends in AI-related stocks affected the overall market direction.
In the first half of the week beginning 26 October, semiconductor stocks and others remained weak, while AI-related stocks were bought strongly from the 27th to the 29th. Advantest rose sharply around its earnings announcement, making it an example of a stock with a strong potential impact on the Nikkei average.
AI-related stocks suffered a broad sell-off on the 30th, but Yomiuri 333 recorded only a modest decline and remained relatively firm even when the Nikkei average fell by more than 2%. The direction of Japanese equities as a whole remained unclear over the week, with trends in AI-related stocks serving as the key driver of relative performance.
Among individual stocks, Advantest surged on strong earnings, while Konami Group reached a new high after raising its earnings outlook and increasing its dividend. By contrast, Fujitsu, NEC and Hitachi plunged following their earnings announcements, while Stanley Electric and Koito Manufacturing were also sold on their earnings results.