The Nikkei struggled to extend its gains after opening, having temporarily risen by nearly ¥500. TOPIX was up around 2%, extending its sharp advance, amid reports of a view that funds were shifting into stocks other than AI-related names.
The Nikkei Stock Average temporarily widened its gain to nearly ¥500 before struggling to extend its advance. It opened ¥196.10 higher than the previous day at ¥62,384.73. Buying came first, supported by the strength of US stocks following the outcome of the US midterm elections, but selling factors in semiconductor manufacturing equipment and electronic components weighed on the Nikkei.
The Tokyo Stock Price Index (TOPIX) rose around 2%, recording a sharp gain. Major brokerage sources reported a view that the shift of funds into stocks other than AI-related names was gathering pace, while the decline in crude oil prices was also said to have provided a positive factor. Automobiles benefited from favorable conditions, and Toyota's sharp rebound contributed to the rise in TOPIX.
Against the market backdrop, a view was reported that an early end to the war in Iran was being cited as a possible reason for the US Republican Party's defeat, and an interpretation was presented that this was causing bids to fluctuate. Future market trends are expected to be affected by the outcome of the midterm elections and international conditions.