Japan Market Daily | Kabutaro & Friends

On October 16, the Nikkei 225 rebounded for the first time in seven sessions, closing up 898.34 yen (+1.39%) at 65,324.29. The TOPIX also rose 66.66 points (+1.67%) to 4,066.00, back above 4,000. After U.S. stocks rebounded and U.S. long-term interest rates fell, short-covering spread, led by semiconductor stocks, in reaction to the previous day's plunge. The index was up as much as 1,124 yen in the morning session, but concerns about AI investment lingered, and selling by investors waiting for a rebound narrowed the gains toward the close. By contribution, Tokyo Electron lifted the index by about 134 yen, while Fast Retailing dragged it down by about 66 yen. On the TSE Prime Market, 83.2% of stocks rose, and 32 sectors gained, with only electric power and gas falling. Turnover was 7.6686 trillion yen. In Tokyo forex trading, the dollar moved in the 157.90 yen range.