Despite the Nikkei Average extending its decline this week, 84 companies reached new all-time highs since listing. Kewpie, Recruit and Japan Post were among the stocks attracting attention.
The market generally declined this week amid higher crude oil prices and concerns over interest rates, but as many as 84 stocks reached new all-time highs since listing, drawing attention as “blue-sky” stocks with little resistance overhead.
Major stocks reaching new all-time highs since listing included Kewpie Corporation, Zeon Corporation, AutoServer Co., Ltd., Recruit Holdings Co., Ltd., Japan Post Holdings Co., Ltd. and Inaba Denki Sangyo Co., Ltd. Kewpie’s planned price increases for household and commercial products shipped from 1 November were cited as a catalyst.
The stocks were distributed across industries including construction, foods, machinery, information and communications, and wholesale. Multiple sectors, including Yondenko Corporation and EPROM-related stocks, saw stocks reach new all-time highs since listing.