In the Tokyo market on 2 November, the Nikkei 225 lacked direction and ended the morning session at ¥63,095.11. With the US and Chinese elections and the holiday on the following day, the 3rd, approaching, investors were notably cautious about active buying.
The Nikkei 225 ended the morning session down ¥195 at ¥63,095.11. In the afternoon session, it opened slightly higher, then repeatedly moved above the previous day's close and fell back. Some AI- and semiconductor-related stocks continued to face selling, but Tokyo Electron and Advantest, which had reported strong results the previous week, supported the index. Gains were nevertheless limited, and the index failed to hold its morning highs.
In the afternoon session, the Nikkei 225 traded slightly above the morning-session level. On the Prime Market, declining stocks accounted for 68% of issues and advancing stocks for 29%, with subdued trading continuing. Trading volume was approximately more than 1 billion shares and trading value was approximately ¥3.799 trillion. As caution increased ahead of the market holiday, movements in semiconductor-related stocks at times weighed on the broader market.
Market participants said that markets would be closed the following day, the 3rd, for Culture Day, and that future policy trends could change depending on the outcome of the US midterm elections. The dollar/yen rate traded in the upper ¥157 range, at around ¥157.93 as of the end of the morning session. Among individual stocks, Tokyo Electron and Advantest maintained their gains and supported the market, while some stocks affected by declines in US technology shares saw profit-taking.
The Nikkei 225 morning-session close was ¥63,095.11, TOPIX was 3,931.61, and declining stocks were more numerous on the Prime Market. Trading volume was approximately 1 billion shares and trading value was approximately ¥3.799 trillion. The afternoon session opened at ¥63,369.28, and the index fell as low as ¥62,860 during the 9 a.m. hour before moving narrowly in the low ¥63,000 range.
Today, movements in semiconductor- and AI-related stocks were the focus of the market, with gains in Tokyo Electron and Advantest supporting the index from the morning session. The backdrop was widespread selling after US companies' earnings fell short of market expectations, while domestic semiconductor-related companies continued to attract dip-buying relatively readily at lower levels.