Buying is expected to lead trading in the emerging markets this week as expectations for US rate hikes recede, but IPOs will enter a period with no new listings.
The emerging markets fell this week. The Nikkei Average rose on gains in generative AI-related stocks, while TOPIX fell, and both the Growth Market Index and Growth 250 Index declined for the second consecutive week.
Among the largest stocks by market capitalization, note surged more than 34%, supported by news that an education board had introduced the company's official SNS, “note,” in all municipal schools. HUMAN MADE also rose sharply, while Terra Drone fell. At times, leading stocks, particularly defense-related issues, came under profit-taking.
Buying is expected to prevail next week against a backdrop of receding expectations for US rate hikes and a pause in the rise in Japanese government bond yields. As generative AI-related stocks have a significant impact, leading issues such as Power X and Terra Drone are expected to attract increased interest.
There are no IPOs scheduled for next week, and the market is expected to enter a lull period. The TSE has approved the listing of 4 issues on the Growth Market, and their subsequent performance will be closely watched. Skyfall, akippa and レイヤード have previously renewed their post-listing highs, and activity by short-term investors is expected to continue.