On October 10, 2024, the Tokyo stock market reported a closing price for the Nikkei 225 of 39,380.89, an increase of 102.93 points from the previous day. This marks the second consecutive day of gains.
The rise in Tokyo's market follows a surge in the US stock market, where the Dow Jones Industrial Average reached a record high for the first time in three trading days. The increase in US interest rates has led to a stronger dollar, contributing to a weaker yen, which in turn benefited automotive stocks in Japan. Additionally, rising domestic interest rates are expected to boost earnings for banks and insurance companies, leading to increased investment in these sectors. However, trading activity was somewhat limited due to a lack of significant trading materials.
The Tokyo Stock Price Index (TOPIX) also saw an increase, rising by 5.43 points to close at 2,712.67.
Source: yomiuri.co.jp, Date: 2024-10-10