In the Tokyo stock market on 16 October, the Nikkei 225 ended trading at ¥65,324.29, up ¥898.34 from the previous day, rebounding for the first time in 7 trading sessions. Buying spread following the previous day's sharp decline, and AI- and semiconductor-related stocks rose.
On 16 October, the Nikkei 225 ended trading at ¥65,324.29, up ¥898.34 from the previous day, rebounding for the first time in 7 trading sessions. Following the previous day's sharp decline, AI- and semiconductor-related stocks were notably higher. The backdrop was reportedly the US CPI for September coming in above market expectations and strengthening expectations for a US interest-rate hike.
The previous day's decline marked the Nikkei 225's sixth consecutive session of losses, with the index falling by just over ¥6,000. A sharp rise in the Dow Jones Industrial Average of 30 stocks, reflecting developments in the US market, had an impact, and the rebound trend continued after the open, although the gain was limited.
The index briefly recovered to the ¥65,500 range during the morning session, but selling from investors waiting for a rebound pushed it lower toward the close, narrowing the gain. Some high-priced stocks, including Tokyo Electron, were among those that pushed the Nikkei 225 higher.