Olympus shares briefly rose 3.71%, reaching ¥2,194.50, up ¥78.50 from the previous day. The move was attributed to expectations that buying interest in defensive stocks would spread as market sentiment deteriorated.
As of 10:15 a.m., Olympus shares continued to rise, reaching ¥2,194.50 at one point. The stock was up ¥78.50 from the previous day, a gain of approximately 3.71%. With overall market sentiment deteriorating, some observers said the stock attracted buying as a defensive issue.
The uncertainty surrounding the situation in the Middle East and elevated U.S. long-term interest rates were cited as factors behind the move. With sentiment across the market weakening, some market participants said inflows into stocks expected to offer stability had become more noticeable.