Japan Market Daily

On November 2, the Nikkei 225 fell for a second straight session on the Tokyo stock market, closing at 63,081.86, down 208.25 yen (0.33%) from the end of the previous week. TOPIX also fell 34.79 points to 3,930.28. The Nasdaq Composite dropped 2.86% in the U.S. at the end of the previous week, and concerns about the profitability of AI investment led to early selling of semiconductor-related stocks. Kioxia Holdings plunged 15.78% after its earnings and outlook announced on October 30 fell short of expectations, dragging down the Nikkei 225 by about 150 yen on its own. Recruit Holdings and SoftBank Group also fell. On the other hand, Tokyo Electron rebounded 5% after reporting strong earnings and a share buyback of up to 150 billion yen, supporting the index together with Advantest. About 65% of stocks on the TSE Prime Market declined. Investors were cautious ahead of the U.S. midterm elections and a Japanese holiday, and trading value on the TSE Prime Market was limited to about 7.64 trillion yen.