The Nikkei 225 fell nearly 4% for its second consecutive weekly decline, with falling bank stocks weighing on the market. Mitsubishi UFJ Financial Group's forecast dividend yield rose to approximately 2.91%, and dividend-related developments were reported.
Comparing the 16 October and 23 October closing prices, the Nikkei 225 fell 4.028% for the week, declining for the second consecutive week, while TOPIX fell 2.464%. On 22 October, the Nikkei 225 fell as much as ¥1,713.40. This single session accounted for most of the decline compared with the previous week. By sector, mining led with a 4.26% gain, while nonferrous metals ranked last with an 11.02% decline. Banking fell 6.24%, declining for the fourth consecutive week.
Mitsubishi UFJ Financial Group's share price fell 5.18% from 16 October, sending its forecast dividend yield up to approximately 2.91%. The forecast dividend for the current fiscal year was held at ¥96, and the yield rose year on year. GMO GlobalSign Holdings raised its annual dividend forecast to ¥74.35, an increase from the ¥56.91 paid in the previous fiscal year. Several regional banks also announced dividend increases.
In the US market, the Dow gained 0.409% for the week, while the S&P 500 fell 0.467% and the Nasdaq fell 0.707%, with US stocks generally moving in different directions. Crude oil maintained its upward trend, with WTI around $103.27. Brent appeared to have been affected by developments in the Middle East. The dollar-yen rate was ¥156.95, moving slightly toward yen appreciation from ¥158.00 on 16 October.
Next week, the FOMC announcement schedule is due, while the Bank of Japan is scheduled to hold a monetary policy meeting in Japan. Earnings from US companies, including MIC, Alphabet and Amazon, as well as AI-related news, are expected to remain key market focal points.