The Nikkei 225 is headed for a rebound following the previous day’s gains in U.S. stocks. However, with a lack of catalysts likely to limit gains, views suggest that buying will continue to broaden, centered on AI and semiconductor-related stocks.
After the U.S. market closed on 4 September, the Nikkei 225 rebounded sharply, gaining substantially from the previous day. One explanation is that expectations for an early rate hike in the United States receded, with Federal Reserve Governor Waller’s remarks prompting broader expectations that rates would remain unchanged. The Nasdaq and Philadelphia Semiconductor Index extended their gains, while buying progressed mainly in technology stocks.
AI and semiconductor-related stocks were also bought in the Tokyo market. Movements in NVIDIA and Arm Holdings stood out, with Advantest, Kioxia and Fujikura among the stocks that saw increased buying, while buying interest in SoftBank Group was also observed. Some stocks reportedly contributed around ¥470 to the Nikkei 225’s advance.