Nikkei 225 — daily market movers
Macro backdrop
The Nikkei 225 finished essentially flat (about -0.01%), but the quiet index masked a sharp rotation beneath the surface. Technology and semiconductor names rebounded after two down sessions, as investors reassessed AI outlooks following a call for a slower AI development pace and an overnight pullback in US chipmakers (Nvidia, Micron) on 'AI-capex-return' worries. At the same time, financials were sold off after Bank of America's CEO warned that Q3 trading and dealmaking revenue would be roughly flat, triggering a global bank selloff; a 10-year JGB yield above 3% and expectations of a BOJ rate hike this week added pressure. Back-to-back Fed and BOJ decisions this week, plus Brent crude above $105, kept sentiment cautious.
Top 10 gainers
| # | Ticker | Company / business | Change | Likely Driver |
|---|---|---|---|---|
| 1 | 9984.T | SoftBank Group Investment holding conglomerate; owns Arm, runs Vision Fund and telecom operations | +7.54% | Rallied on optimism around the planned US listing of data-center unit SB Energy, seen as monetizing AI-related assets and easing pressure from delayed OpenAI investment returns. |
| 2 | 6976.T | Taiyo Yuden Electronic-components maker specializing in multilayer ceramic capacitors (MLCCs) | +5.54% | Rose with a broad rebound in semiconductor and electronic-component names; no standalone catalyst, part of the sector-wide tech recovery. |
| 3 | 4704.T | Trend Micro Cybersecurity software for endpoint, cloud and network threat protection | +4.33% | Extended gains toward a multi-year high on reports of a private-equity bidding war for the company. |
| 4 | 6981.T | Murata Manufacturing World's largest maker of ceramic capacitors and electronic components | +3.24% | Lifted by the rebound in chip and electronic-component stocks; a sector move rather than a company-specific catalyst. |
| 5 | 6920.T | Lasertec Makes semiconductor inspection tools; dominant in EUV mask inspection | +3.22% | Recovered with semiconductor-equipment peers as AI-demand sentiment steadied after the recent pullback. |
| 6 | 285A.T | Kioxia Holdings Manufactures NAND flash-memory chips and SSDs | +2.29% | Gained amid reports it is weighing a roughly $10 billion US listing, alongside improving memory-sector sentiment. |
| 7 | 6098.T | Recruit Holdings HR technology and staffing; owns the Indeed job platform | +2.18% | Rose with tech/platform names; no clear standalone catalyst on the day. |
| 8 | 3086.T | J. Front Retailing Department-store retailer operating Daimaru and Matsuzakaya | +2.03% | Tracked the broader market rebound; no obvious company-specific news. |
| 9 | 4004.T | Resonac Holdings Diversified chemicals maker; semiconductor materials and petrochemicals | +2.01% | Advanced with chemicals/semiconductor-materials peers on improving chip-demand expectations. |
| 10 | 4502.T | Takeda Pharmaceutical Japan's largest pharmaceutical company; prescription drugs | +1.92% | Firmed on defensive buying as some money rotated toward lower-beta healthcare names. |
- 1. 9984.T+7.54%SoftBank GroupInvestment holding conglomerate; owns Arm, runs Vision Fund and telecom operationsRallied on optimism around the planned US listing of data-center unit SB Energy, seen as monetizing AI-related assets and easing pressure from delayed OpenAI investment returns.
- 2. 6976.T+5.54%Taiyo YudenElectronic-components maker specializing in multilayer ceramic capacitors (MLCCs)Rose with a broad rebound in semiconductor and electronic-component names; no standalone catalyst, part of the sector-wide tech recovery.
- 3. 4704.T+4.33%Trend MicroCybersecurity software for endpoint, cloud and network threat protectionExtended gains toward a multi-year high on reports of a private-equity bidding war for the company.
- 4. 6981.T+3.24%Murata ManufacturingWorld's largest maker of ceramic capacitors and electronic componentsLifted by the rebound in chip and electronic-component stocks; a sector move rather than a company-specific catalyst.
- 5. 6920.T+3.22%LasertecMakes semiconductor inspection tools; dominant in EUV mask inspectionRecovered with semiconductor-equipment peers as AI-demand sentiment steadied after the recent pullback.
- 6. 285A.T+2.29%Kioxia HoldingsManufactures NAND flash-memory chips and SSDsGained amid reports it is weighing a roughly $10 billion US listing, alongside improving memory-sector sentiment.
- 7. 6098.T+2.18%Recruit HoldingsHR technology and staffing; owns the Indeed job platformRose with tech/platform names; no clear standalone catalyst on the day.
- 8. 3086.T+2.03%J. Front RetailingDepartment-store retailer operating Daimaru and MatsuzakayaTracked the broader market rebound; no obvious company-specific news.
- 9. 4004.T+2.01%Resonac HoldingsDiversified chemicals maker; semiconductor materials and petrochemicalsAdvanced with chemicals/semiconductor-materials peers on improving chip-demand expectations.
- 10. 4502.T+1.92%Takeda PharmaceuticalJapan's largest pharmaceutical company; prescription drugsFirmed on defensive buying as some money rotated toward lower-beta healthcare names.
Common Themes
The gainers are dominated by technology and the semiconductor supply chain — SoftBank, Taiyo Yuden, Murata, Lasertec, Kioxia and chemicals/semi-materials name Resonac — plus cybersecurity firm Trend Micro. The common thread is a chip/tech rebound after two down sessions, helped by a reassessment of AI outlooks and steadier sentiment after the overnight US chip pullback. SoftBank (SB Energy US-listing optimism) and Trend Micro (private-equity bidding war) had their own stock-specific catalysts, while Recruit, J. Front and Takeda rose more on rotation and defensive buying than on a clear standalone catalyst.
Top 10 losers
| # | Ticker | Company / business | Change | Likely Driver |
|---|---|---|---|---|
| 1 | 5801.T | Furukawa Electric Makes electrical cables, wires and optical-fiber communication products | -3.28% | Fell with financial and value-side names; no clear standalone catalyst, part of the value-to-growth rotation. |
| 2 | 8308.T | Resona Holdings Regional banking group; retail and commercial banking | -3.24% | Led bank declines after Bank of America's CEO warned Q3 trading and dealmaking revenue would be roughly flat, sparking a global financial-sector selloff. |
| 3 | 6857.T | Advantest Makes semiconductor test equipment; a key AI-chip tester supplier | -2.96% | Fell despite the broader chip rebound, with no clear standalone catalyst — likely profit-taking amid 'AI-capex-return' concerns weighing on the most-extended AI names. |
| 4 | 8002.T | Marubeni General trading house: commodities, resources, food and infrastructure | -2.73% | Slid with the financial/value complex as money rotated out of trading houses. |
| 5 | 8316.T | Sumitomo Mitsui Financial Group One of Japan's three megabanks; banking and financial services | -2.67% | Dropped on the BofA revenue warning and a 10-year JGB yield above 3% ahead of an expected BOJ hike. |
| 6 | 8802.T | Mitsubishi Estate Major real-estate developer and property manager | -2.58% | Pressured as rising bond yields weighed on rate-sensitive real-estate stocks. |
| 7 | 6753.T | Sharp Makes consumer electronics and display panels | -2.57% | Declined without a clear catalyst as the electronics group split, with capital favoring chip over hardware names. |
| 8 | 1803.T | Shimizu Major general contractor; construction and civil engineering | -2.54% | Fell as higher-rate worries pressured construction stocks. |
| 9 | 9843.T | Nitori Holdings Home-furnishings and furniture retail chain | -2.46% | Weakened with domestic-demand retail; no obvious company-specific news. |
| 10 | 8630.T | Sompo Holdings Property & casualty insurance holding group | -2.41% | Retreated alongside the broad financial-sector selloff that hit insurers as well as banks. |
- 1. 5801.T-3.28%Furukawa ElectricMakes electrical cables, wires and optical-fiber communication productsFell with financial and value-side names; no clear standalone catalyst, part of the value-to-growth rotation.
- 2. 8308.T-3.24%Resona HoldingsRegional banking group; retail and commercial bankingLed bank declines after Bank of America's CEO warned Q3 trading and dealmaking revenue would be roughly flat, sparking a global financial-sector selloff.
- 3. 6857.T-2.96%AdvantestMakes semiconductor test equipment; a key AI-chip tester supplierFell despite the broader chip rebound, with no clear standalone catalyst — likely profit-taking amid 'AI-capex-return' concerns weighing on the most-extended AI names.
- 4. 8002.T-2.73%MarubeniGeneral trading house: commodities, resources, food and infrastructureSlid with the financial/value complex as money rotated out of trading houses.
- 5. 8316.T-2.67%Sumitomo Mitsui Financial GroupOne of Japan's three megabanks; banking and financial servicesDropped on the BofA revenue warning and a 10-year JGB yield above 3% ahead of an expected BOJ hike.
- 6. 8802.T-2.58%Mitsubishi EstateMajor real-estate developer and property managerPressured as rising bond yields weighed on rate-sensitive real-estate stocks.
- 7. 6753.T-2.57%SharpMakes consumer electronics and display panelsDeclined without a clear catalyst as the electronics group split, with capital favoring chip over hardware names.
- 8. 1803.T-2.54%ShimizuMajor general contractor; construction and civil engineeringFell as higher-rate worries pressured construction stocks.
- 9. 9843.T-2.46%Nitori HoldingsHome-furnishings and furniture retail chainWeakened with domestic-demand retail; no obvious company-specific news.
- 10. 8630.T-2.41%Sompo HoldingsProperty & casualty insurance holding groupRetreated alongside the broad financial-sector selloff that hit insurers as well as banks.
Common Themes
The losers cluster in financials — Resona, Sumitomo Mitsui and Sompo — after Bank of America's CEO warned that Q3 trading and dealmaking revenue would be roughly flat and investment-banking fees down at least 10%, triggering a global bank selloff. A 10-year JGB yield above 3% ahead of a widely expected BOJ rate hike added pressure and dragged rate-sensitive real estate (Mitsubishi Estate) and construction (Shimizu). Trading house Marubeni, insurer Sompo and domestic retailer Nitori followed the value-side weakness. Advantest fell despite the chip rebound, with no clear standalone catalyst — likely profit-taking amid AI-capex-return concerns.
Overall read
Money rotated out of financials, trading houses and rate-sensitive value (banks, insurers, real estate, construction) and into technology and semiconductors, leaving the index essentially flat while masking a sharp value-to-growth rotation. Bank weakness was driven by BofA's revenue warning and rising JGB yields; the tech bid reflected a rebound in AI/chip names plus stock-specific catalysts at SoftBank and Trend Micro.