In afternoon trading on the 29th in the Tokyo market, the Nikkei Average extended its gains again and was trading in the mid-¥64,500 range, up approximately ¥600 from the previous day. Market participants increasingly believe that individual investors are buying on dips.
In midafternoon trading on the 29th in the Tokyo stock market, the Nikkei Stock Average extended its gains again and was trading in the mid-¥64,500 range, up approximately ¥600 from the previous day. Some market participants said whether the Nikkei Average can continue to test higher levels will depend on the assessment of upcoming interim earnings.
Shingo Ide (井出 真吾), chief equity strategist at NLI Research Institute, said concerns about the creditworthiness of U.S.-based AI-related companies appeared to be easing and that the sense that Japanese stocks were overvalued was also beginning to fade, adding that individual investors were actively buying. There was also a view that the profitability of AI investment would be a focus during the peak earnings season.
As of 2 p.m., estimated trading value on the TSE Prime market was ¥6.1042 trillion and trading volume was 1.45479 billion shares. Among individual stocks, Furukawa Electric and Fujifilm extended their gains, while Advantest and Ibiden were higher. TDK and Fast Retailing, meanwhile, were lower.
The breaking news was distributed by Nikkei QUICK News (NQN), which identified corporate earnings during the interim earnings announcement period and the profitability of AI investment as points to watch going forward.