The Nikkei 225 remains within an upward trend channel that has been in place since last year and recovered to the ¥64,000 range today after hitting an intraday low on the 23rd. The 200-day moving average is supporting the downside, while attention is also focused on the performance of AI-related stocks.
The Nikkei 225 fell to ¥61,462.61 on 23 October, but subsequently recovered to the ¥64,000 range as of 13:36 today, amid easing concerns about AI.
The Nikkei is being supported by its 200-day moving average and is said to be moving within an upward trend channel that has been in place since last year. Some analysts also believe that continued attention should be paid to the earnings of AI-related companies.
In the Japanese and US equity markets, buying activity in AI- and semiconductor-related stocks has been gaining momentum. Some analysts also believe that progress toward Anthropic’s IPO this week helped improve investor sentiment.