The Nikkei 225 rose to more than ¥500 above the previous day's close in the Tokyo market during the morning of the 11th. Reports attributed the market's support to easing concerns over AI investment and buying based on reassessments of corporate earnings.
As of 10:20 a.m., the Nikkei 225 had extended its gain to around ¥450 above the previous day's close, reaching around ¥60,900. More than half of the stocks in the TSE Prime Market were higher, with trading value at approximately ¥2.3184 trillion and trading volume at approximately 720.90 million shares. Market participants said the previous week's decline had been excessive and viewed the market as entering a rebound phase this week.
One factor pushing the market higher was the easing of concerns over the sustainability of AI infrastructure investment after the July-September 2026 revenue of U.S. AI cloud company CoreWeave exceeded market expectations. Semiconductor-related stocks Advantest and Tokyo Electron rebounded from their morning declines, with some market participants saying that buybacks were emerging in high-priced stocks.
Among individual stocks, Kioxia rose as its margin-trading long positions were thought to be undergoing liquidation. Fast Retailing, TDK, Lasertec and Sumitomo Realty were also higher. Konami Group, Recruit, BayCurrent and Suzuki fell, while financial stocks remained firm on expectations of higher interest rates.
Selling emerged in high-priced stocks immediately after the open, following declines in major U.S. stock indexes in the previous day's session, but the Nikkei 225 started slightly higher. SoftBank Group, which was closely watched, opened with a sell indication after reporting a loss in its interim results, but subsequently limited its decline and helped support the broader market. The sustainability of AI-related investment and the direction of U.S. monetary policy are expected to be the focus going forward.