In brief
On Oct. 28, Tokyo’s Nikkei index rose 1.08% to 63,954.19 while the broader Topix fell 0.14% to 3,991.71. AI-related shares benefited from easing profitability concerns, but crude futures above $100 a barrel weighed on investor sentiment. Market participants are awaiting Fed and Bank of Japan policy announcements later this week.
Tokyo stocks closed mixed on Friday, Oct. 28, as AI shares gained and oil prices rose.
The Nikkei stock index climbed 1.08%, adding 685.82 points to finish at 63,954.19, while the broader Topix slipped 0.14%, ending at 3,991.71. AI and semiconductor stocks, reflecting U.S. movements, supported the upside for the Nikkei.
Although AI shares extended gains, the overall market sentiment was dampened. The Topix index fell, indicating that other sectors such as traditional manufacturing and consumer goods posted lower returns.
Crude oil futures climbed above $100 a barrel, pushing Japanese government bond yields higher and adding a downward pressure on broader market indices. The rise in oil prices highlighted concerns about inflation and the global supply chain.
Investors remained cautious, awaiting policy decisions from the U.S. Federal Reserve and the Bank of Japan scheduled for later this week. Analysts said this wait-and-see mood tempered trading activity across the market.
