Japan Market Daily | Kabutaro & Friends

On October 29, the Nikkei 225 extended its gains on the Tokyo stock market, closing at 64,659.47, up 705.28 yen (1.10%) from the previous day. TOPIX also rebounded, rising 11.57 points to 4,003.28. The market followed the previous day's U.S. session, where major indexes rose and chip stocks were bought after the FOMC held interest rates steady as expected. Advantest, which raised its full-year earnings forecast and announced a share buyback, rose sharply and led the index, while Tokyo Electron and SoftBank Group also gained. Gains stalled in the morning session due to weakness in Korean stocks and in electrical equipment and machinery shares, but buying in semiconductor-related stocks widened the rise in the afternoon. On the other hand, Fanuc and Hitachi fell, and decliners made up about 50% of stocks on the TSE Prime Market. By sector, non-ferrous metals, banks, and securities and commodity futures rose, while machinery and electrical equipment fell. Trading value on the TSE Prime Market was about 13.87 trillion yen.