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Nikkei briefly tops 70,000 in Tokyo, first time in about three months
In short
Tokyo stocks rebounded on Monday, October 5, with the Nikkei average rising more than 1,700 points at one point and briefly recovering the 70,000 level for the first time in about three months. Outlets attributed the gains to receding expectations of an early US rate hike after a weak September US jobs report released on October 2, and to a G7 agreement to release 100 million barrels of oil reserves that pushed crude prices down. AI and semiconductor-related shares led the buying, while profit-taking near the 70,000 mark capped the advance.
Why it matters
The Nikkei's move back above 70,000 marks a three-month high for Japan's main equity gauge, with the buying concentrated in AI and semiconductor-related names that have driven the market's recent rise. The session shows how strongly Tokyo prices are tracking US monetary policy expectations and crude oil prices, since the trigger came from US jobs data and a G7 decision on oil reserves rather than from domestic news.
Key facts
- The Nikkei average rebounded on Monday, October 5, rising more than 1,700 points at one point and briefly topping 70,000 during trading hours. [ 4 , 5 , 6 , 7 , 8 ]
- Sankei reported that at 10:45 a.m. the index was up 1,736.70 points, or 2.5%, at 70,046.16. [ 7 ]
- Mainichi reported that at 10:30 a.m. the index was up 1,659.92 points at 69,969.38. [ 8 ]
- Outlets said the rise followed the US September employment report released on October 2, which came in well below market expectations and reduced expectations that the Federal Reserve would raise rates soon. [ 1 , 5 , 7 , 8 , 9 ]
- The G7 agreed at an online summit on the night of October 2 Japan time to release a total of 100 million barrels of oil reserves, pushing crude prices lower. [ 5 , 8 ]
- AI and semiconductor-related shares led the gains; Advantest and Tokyo Electron together lifted the Nikkei by more than 650 points, and Murata Manufacturing and SoftBank Group also rose sharply. [ 3 , 7 ]
- At 10:00 a.m., turnover on the Tokyo Stock Exchange Prime Market was about 2.4407 trillion yen on volume of 620.95 million shares. [ 3 ]
- The yen was trading in the upper 157 range against the dollar. [ 9 ]
Confirmed by several sources
- The Nikkei average briefly recovered the 70,000 level during the morning session for the first time in about three months. [ 4 , 5 , 6 , 7 , 8 ]
- The rebound followed receding expectations of an early US rate increase after a weaker-than-expected US September employment report. [ 1 , 5 , 7 , 8 , 9 ]
- The G7 agreement to release oil reserves lowered crude prices and was cited as a factor supporting stocks. [ 5 , 8 ]
- AI and semiconductor-related stocks led the buying in Tokyo. [ 1 , 6 , 7 , 8 ]
Still unclear
- When the index last traded at this level during trading hours Asahi, Sankei, Mainichi and Yahoo! News Japan said the 70,000 level was last reached in trading hours on July 6, while TBS NEWS DIG said the intraday high was the highest since July 7.
- The exact intraday high and whether the index held above 70,000 Reported levels differ by timing, and the documents cover only the morning session; Nikkei reported that selling by investors taking profits near the 70,000 mark capped gains, and no closing figures are given.
- The full extent of foreign and futures-driven buying Nikkei reported intermittent buying in Nikkei futures that appeared to come from overseas investors, but the other documents do not quantify foreign flows.
What local media are saying
Business mediaThe business outlets treated the session as a straightforward market story, reporting point gains, index levels, individual stock movers and turnover, and attributing the rally to receding US rate-hike expectations after the October 2 US jobs report, with the G7 oil-reserve release cited as an additional factor. Nikkei added detail on which stocks lifted the index and on profit-taking near 70,000.
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Community and socialYahoo! News Japan carried a short breaking-news item, crediting TBS NEWS DIG, that the Nikkei had recovered the 70,000 level for the first time in about three months on buying in AI and semiconductor shares, and placed it alongside a list of unrelated trending headlines.
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Timeline, local time
- TBS NEWS DIG reports the Nikkei average briefly rose more than 1,300 points in early Monday trading after the weak US jobs data eased expectations of an early Fed rate hike. [ 1 ]
- Yomiuri reports the Nikkei is trading in the 69,800 range, up more than 1,500 points at one point. [ 2 ]
- Tokyo Stock Exchange Prime Market turnover reaches about 2.4407 trillion yen on volume of 620.95 million shares. [ 3 ]
- Nikkei reports the morning session is firm, up more than 1,500 points in the 69,800 range, with Advantest and Tokyo Electron lifting the index by more than 650 points and Nikkei futures briefly trading above 70,000 for the first time in about three months. [ 3 ]
- Mainichi reports the index is up 1,659.92 points at 69,969.38. [ 8 ]
- Yomiuri reports the Nikkei has recovered the 70,000 level for the first time in three months, rising more than 1,700 points at one point. [ 4 ]
- Sankei reports the index is up 1,736.70 points, or 2.5%, at 70,046.16, with Advantest, Murata Manufacturing and SoftBank Group sharply higher. [ 7 ]
- Asahi reports the Nikkei briefly reached 70,000, the first time in trading hours since July 6. [ 5 ]
- Yahoo! News Japan carries a flash report that the Nikkei has recovered the 70,000 level for the first time in about three months. [ 6 ]
- TBS NEWS DIG reports the Nikkei is up more than 1,600 points, back in the 69,900 range and at its highest intraday level since July 7, with the yen in the upper 157 range against the dollar. [ 9 ]