Nikkei 225 — daily market movers
Macro backdrop
The Nikkei 225 rose 1.38%, a third straight daily gain. The Bank of Japan raised its benchmark rate to a 31-year high of 1.25% on the day, but the yen weakened rather than firmed after the widely-expected hike, cushioning exporters. Strong overnight gains in US semiconductor and AI stocks then drove heavy buying across Japanese chip-related names.
Top 10 gainers
| # | Ticker | Company / business | Change | Likely Driver |
|---|---|---|---|---|
| 1 | 285A.T | Kioxia NAND flash memory chip manufacturer | +9.40% | Extended the memory rally as firm NAND flash prices and AI-driven demand — reinforced by strength in US memory names — lifted the sector; the biggest Nikkei gainer on the day. |
| 2 | 6920.T | Lasertec EUV photomask inspection equipment for semiconductors | +8.70% | Rode the broad semiconductor-equipment rally sparked by strong overnight US chip stocks and a weaker yen after the BOJ hike. |
| 3 | 5706.T | Mitsui Kinzoku Non-ferrous metals and electronic copper foil | +7.35% | Copper-foil and tech-materials exposure caught the semiconductor bid; a weaker yen added support for the exporter. |
| 4 | 6857.T | Advantest Semiconductor test equipment for AI and logic chips | +5.99% | The chip-tester leader rallied with the US semiconductor complex; yen weakness after the BOJ decision aided the exporter. |
| 5 | 4062.T | Ibiden IC packaging substrates for high-end AI processors | +5.85% | Substrate maker geared to high-end AI processors rose with the chip theme and a softer yen. |
| 6 | 3436.T | SUMCO Silicon wafers for semiconductors | +5.60% | Silicon-wafer supplier lifted by the semiconductor rally and firmer memory/foundry demand signals. |
| 7 | 6981.T | Murata Manufacturing Electronic components including MLCCs | +4.47% | Components maker rallied with the tech complex and benefited from yen weakness as an exporter. |
| 8 | 6723.T | Renesas Electronics Automotive and general-purpose semiconductors | +4.45% | Chipmaker rose with the sector on strong US semis; a weaker yen supported the export-heavy name. |
| 9 | 8035.T | Tokyo Electron Semiconductor production equipment | +4.20% | Chip-equipment heavyweight rallied on the US semiconductor lead and post-BOJ yen weakness. |
| 10 | 6976.T | Taiyo Yuden Electronic components including MLCCs | +4.17% | MLCC/electronic-components maker rose with the tech complex and benefited from a softer yen. |
- 1. 285A.T+9.40%KioxiaNAND flash memory chip manufacturerExtended the memory rally as firm NAND flash prices and AI-driven demand — reinforced by strength in US memory names — lifted the sector; the biggest Nikkei gainer on the day.
- 2. 6920.T+8.70%LasertecEUV photomask inspection equipment for semiconductorsRode the broad semiconductor-equipment rally sparked by strong overnight US chip stocks and a weaker yen after the BOJ hike.
- 3. 5706.T+7.35%Mitsui KinzokuNon-ferrous metals and electronic copper foilCopper-foil and tech-materials exposure caught the semiconductor bid; a weaker yen added support for the exporter.
- 4. 6857.T+5.99%AdvantestSemiconductor test equipment for AI and logic chipsThe chip-tester leader rallied with the US semiconductor complex; yen weakness after the BOJ decision aided the exporter.
- 5. 4062.T+5.85%IbidenIC packaging substrates for high-end AI processorsSubstrate maker geared to high-end AI processors rose with the chip theme and a softer yen.
- 6. 3436.T+5.60%SUMCOSilicon wafers for semiconductorsSilicon-wafer supplier lifted by the semiconductor rally and firmer memory/foundry demand signals.
- 7. 6981.T+4.47%Murata ManufacturingElectronic components including MLCCsComponents maker rallied with the tech complex and benefited from yen weakness as an exporter.
- 8. 6723.T+4.45%Renesas ElectronicsAutomotive and general-purpose semiconductorsChipmaker rose with the sector on strong US semis; a weaker yen supported the export-heavy name.
- 9. 8035.T+4.20%Tokyo ElectronSemiconductor production equipmentChip-equipment heavyweight rallied on the US semiconductor lead and post-BOJ yen weakness.
- 10. 6976.T+4.17%Taiyo YudenElectronic components including MLCCsMLCC/electronic-components maker rose with the tech complex and benefited from a softer yen.
Common Themes
Nine of the ten gainers are semiconductor or electronic-component names — memory (Kioxia), chip equipment (Lasertec, Advantest, Tokyo Electron), materials and substrates (SUMCO, Ibiden, Mitsui Kinzoku) and passive components (Murata, Taiyo Yuden), with Renesas rounding out the group. The single driver was strong overnight US semiconductor/AI stocks, amplified by a weaker yen after the BOJ's rate hike, which favors these export-heavy names. Kioxia stood out on continued memory/NAND-price strength.
Top 10 losers
| # | Ticker | Company / business | Change | Likely Driver |
|---|---|---|---|---|
| 1 | 2002.T | Nisshin Seifun Group Flour milling and processed foods | -4.15% | Defensive food-staples name sold off as money rotated out of domestic defensives into exporters and chips after the BOJ hike. |
| 2 | 6753.T | Sharp Consumer electronics and display panels | -4.08% | Lagged the tech rally; the display/consumer-electronics maker saw profit-taking with no positive catalyst on the day. |
| 3 | 1332.T | Nissui Seafood and marine-products processing | -3.49% | Seafood/food-staples defensive fell amid rotation out of domestic-demand names into cyclicals and exporters. |
| 4 | 2282.T | NH Foods Meat processing and food products | -3.40% | Meat-processing defensive pressured by rotation away from food staples toward exporters and semiconductors. |
| 5 | 2501.T | Sapporo Holdings Beer, beverages and real estate | -3.20% | Beverage/defensive name weakened as investors rotated into higher-beta exporters and chip stocks. |
| 6 | 3405.T | Kuraray Specialty chemicals and synthetic fibers | -3.11% | Specialty-chemicals maker fell with the sector as money moved into semiconductors; higher rates weighed on the group. |
| 7 | 4689.T | LY Corporation Internet services (Yahoo Japan, LINE) | -3.07% | High-multiple domestic internet name pressured by higher JGB yields after the BOJ hike. |
| 8 | 4005.T | Sumitomo Chemical Diversified chemicals | -2.91% | Diversified chemicals name declined amid rotation out of the sector and into tech. |
| 9 | 9020.T | East Japan Railway Railway operator | -2.84% | Rate-sensitive domestic defensive (railway) fell as higher yields pressured bond-proxy names. |
| 10 | 9843.T | Nitori Holdings Furniture and home-furnishings retailer | -2.82% | Furniture retailer, a domestic-demand/rate-sensitive name, sold off on rotation into exporters and rising yields. |
- 1. 2002.T-4.15%Nisshin Seifun GroupFlour milling and processed foodsDefensive food-staples name sold off as money rotated out of domestic defensives into exporters and chips after the BOJ hike.
- 2. 6753.T-4.08%SharpConsumer electronics and display panelsLagged the tech rally; the display/consumer-electronics maker saw profit-taking with no positive catalyst on the day.
- 3. 1332.T-3.49%NissuiSeafood and marine-products processingSeafood/food-staples defensive fell amid rotation out of domestic-demand names into cyclicals and exporters.
- 4. 2282.T-3.40%NH FoodsMeat processing and food productsMeat-processing defensive pressured by rotation away from food staples toward exporters and semiconductors.
- 5. 2501.T-3.20%Sapporo HoldingsBeer, beverages and real estateBeverage/defensive name weakened as investors rotated into higher-beta exporters and chip stocks.
- 6. 3405.T-3.11%KuraraySpecialty chemicals and synthetic fibersSpecialty-chemicals maker fell with the sector as money moved into semiconductors; higher rates weighed on the group.
- 7. 4689.T-3.07%LY CorporationInternet services (Yahoo Japan, LINE)High-multiple domestic internet name pressured by higher JGB yields after the BOJ hike.
- 8. 4005.T-2.91%Sumitomo ChemicalDiversified chemicalsDiversified chemicals name declined amid rotation out of the sector and into tech.
- 9. 9020.T-2.84%East Japan RailwayRailway operatorRate-sensitive domestic defensive (railway) fell as higher yields pressured bond-proxy names.
- 10. 9843.T-2.82%Nitori HoldingsFurniture and home-furnishings retailerFurniture retailer, a domestic-demand/rate-sensitive name, sold off on rotation into exporters and rising yields.
Common Themes
The losers are almost entirely domestic-demand defensives and rate-sensitive names: food staples (Nisshin Seifun, Nissui, NH Foods, Sapporo), a railway (JR East), a home-furnishings retailer (Nitori), chemicals (Kuraray, Sumitomo Chemical) and a domestic internet platform (LY Corporation). The common thread is rotation out of defensives and bond-proxy names — pressured by higher JGB yields after the BOJ hike — into exporters and semiconductors. Sharp was the outlier as a tech name, lagging the rally with no positive catalyst.
Overall read
The session was a clean risk-on rotation: money moved decisively into export-heavy semiconductor and electronics names on the back of strong US chip stocks and a post-BOJ weaker yen, and out of rate-sensitive domestic defensives — food, rail, retail and chemicals — as JGB yields rose after the rate hike. The AI/semiconductor theme remains the market's dominant driver.