As the Nikkei 225 extended its gains, Kioxia Holdings surged on the back of South Korea's SK earnings ahead of the US FOMC decision. Canon and Capcom, by contrast, fell sharply.
The Nikkei 225 extended its gains and widened its advance into the afternoon session. Rising SOX index and AI-related stocks helped US market trends spill over into the Japanese market. The US FOMC decision is due to be announced tonight, while the Bank of Japan's policy meeting is scheduled to take place from 23 to 30.
Kioxia Holdings closed at ¥14,340, up ¥1,735 from the previous day, ranking third by percentage gain on the TSE Prime Market. The company, a major semiconductor memory manufacturer, was bought on the strong performance of SK hynix's July–September quarter earnings.
Canon closed at ¥4,610, down ¥294 from the previous day, while Capcom fell ¥545 to ¥3,835. Both companies' third-quarter earnings were broadly in line with market expectations, but revisions to their outlooks for the next fiscal year and market caution had an impact.
The Bank of Japan's monetary policy meeting will be held from 29 to 30, and a range of corporate earnings announcements are likely to affect the market. With US corporate earnings and other market events also ahead, the overall market trend is expected to remain in focus.