Tokyo stocks surged today, with the Nikkei 225 rising ¥1,272 from the previous day to 66,753. Buying by overseas speculators supported futures, and aggressive buying is expected to continue in October, while rising U.S. long-term interest rates and uncertainty over U.S. economic indicators served as factors warranting caution.
The Nikkei 225 surged ¥1,272 from the previous day to 66,753 in today’s Tokyo stock market. Intraday price swings were also wide, as the market remained caught between staying elevated and weakening.
Buying by overseas speculators involving futures supported the market’s direction, while appetite for individual stocks was also strong, with 48 of the 50 stocks with the highest trading value rising. Only 2 stocks, Murata Manufacturing and Capcom, fell.
In the U.S. market, the rise in long-term interest rates showed no sign of stopping. The 30-year Treasury yield reached around 5.29% the previous day, its highest level in about 24 years. Meanwhile, the August Job Openings and Labor Turnover Survey (JOLTS) came in below expectations, and the September consumer confidence index also fell short of market expectations.
Market participants hold differing views on the strength of the U.S. economy and the two-sided outlook for interest rates. AI-related stocks are expected to remain strong, but some believe a slowdown in personal consumption could affect profitability.