In brief
On Friday, Tokyo’s benchmark Nikkei 225 posted a 1.08 % gain, reaching 63,954.19 points, while the broader Topix slipped 0.14 % to 3,991.71. Artificial‑intelligence names surged as investor sentiment turned positive, buoyed in part by favorable details in the U.S. AI firm Anthropic’s IPO prospectus. Conversely, West Texas Intermediate crude futures climbed above $100 a barrel, raising Japan government bond yields and weighing on the market. Market players were waiting for policy decisions from the U.S. Federal Reserve and Bank of Japan.
Tokyo stocks closed mixed on October 28, as artificial‑intelligence shares climbed while crude futures above $100 a barrel weighed on the broader market, Xinhua reported.
The benchmark Nikkei 225 jumped 685.82 points, or 1.08 %, to end the day at 63,954.19. The 225‑issue index had been buoyed by heavyweights in the AI and semiconductor sectors that trended higher, mirroring activity in their U.S. counterparts.
In contrast, the broader Topix index slipped 5.66 points, or 0.14 %, to finish at 3,991.71. Most other sectors finished lower, a reflection of the market’s mixed sentiment.
Artificial‑intelligence names were a bright spot, extending gains as worries about the profitability and sustainability of massive sector‑wide investments eased. Notably, details in the initial public offering prospectus of U.S. AI company Anthropic drew buyers to the Tokyo market for a second straight session, providing a boost to the AI sector.
Investor confidence in AI firms was reinforced by the fact that the sector’s major stocks began the week ranking above their U.S. peers, a trend that fostered optimism about long‑term returns.
However, West Texas Intermediate crude futures rose above $100 a barrel, a threshold that has become a key benchmark for oil prices worldwide. The hike in crude led to higher Japanese government bond yields and created downward pressure on the market, dampening the performance of many other holdings.
Traders and analysts noted that the market remains "wait‑and‑see" ahead of upcoming policy decisions from both the U.S. Federal Reserve and the Bank of Japan later in the week.
These policy announcements are expected to have a significant impact on market volatility and investor sentiment, as investors weigh potential changes in monetary stance and economic outlook.
In sum, Tokyo’s stocks ended with a split performance: AI‑related shares pushed the Nikkei higher, while a surge in crude oil prices pulled the Topix lower, underscoring the complex mix of optimism and concern that characterizes today’s trading sessions.
