The Nikkei 225 fell ¥3,643 on 6 November, and the market rebounded the following day after the sharp decline. Before deciding that it is a buying opportunity, fund managers are said to need to examine the substance of the rebound.
On 6 November 2026, the Nikkei 225 fell ¥3,643.13 from the previous day, recording its third-largest decline on record. Selling reportedly spread across the Tokyo market after the US midterm elections, led by AI- and semiconductor-related stocks.
In after-hours trading that night, stocks with strong earnings were also reportedly bought, prompting concern among investors who had kept cash on hand that they may have missed a buying opportunity.
Fund manager Kawai Naoya (川合 直也) said that even after looking at movements in the US market and PTS, he could not immediately determine the market's next direction. Caution is reportedly required when judging whether the market is in a rebound phase.
It is difficult to assess the direction of the overall market based solely on gains in stocks that have rebounded. Determining which sectors were bought and which stocks moved notably is reportedly the key to the market's future direction.
Kawai said it was unclear whether to invest a large amount of capital starting from the next trading day, indicating a reluctance to allow the anxiety of missing a buying opportunity to become the reason for buying.