"Nikkei" rebounds 374 points in half a day, Kioxia rises over 5%, wire stocks rebound

After a sharp drop of 1,620 points or 3.2% in the Nikkei Index the previous day, it initially fell and then rose this morning (19th). Semiconductor-related stocks experienced selling in the early session, but low prices attracted investors to enter the market. The Nikkei Index opened 119 points higher this morning, initially fell by 467 points to a low of 48,235 points before rebounding, closing at 49,077 points, up 374 points or 0.8%.

In terms of AI concepts and semiconductor stocks, SoftBank (9984.JP) rose 2.2%, memory chip stock Kioxia (285A.JP) rose 5.6%, Tokyo Electron (8035.JP) rose 0.2%, while Renesas Electronics (6920.JP) and Discus (6146.JP) fell 2% and 1.9%, respectively. NVIDIA supplier Advantest (6857.JP) fell 0.1%. Wire stocks such as Furukawa Electric (5801.JP) rose 4.7%, while Sumitomo Electric (5802.JP) and Fujikura (5803.JP) rose 2.2% and 3.2%.

Heavy industry stocks Mitsubishi Heavy Industries (7011.JP) and IHI (7013.JP) fell 1.1%, while Kawasaki Heavy Industries (7012.JP) and Mitsui E&S (7003.JP) rose 1% and 1.3%. JX Metals (5016.JP) rose 3%, while electric power stock Tokyo Electric Power Company (9501.JP) fell 0.8%. Financial stocks rose, with Mitsubishi UFJ Financial Group (8306.JP) up 1.2%, Mitsui Sumitomo Financial Group (8316.JP) and Mizuho Financial Group (8411.JP) up 1.9% and 1.8%, respectively.

In other stocks, Sony (6758.JP) and Hitachi (6501.JP) rose 0.4%, Toyota (7203.JP), Rakuten Group (4755.JP), and cartoon IP parent company Sanrio (8136.JP) rose between 1.1% and 1.5%, Fast Retailing (9983.JP) rose 1.8%, Muji (7453.HK) rose 3.2%, while Panasonic (6752.JP) fell 0.6%.

The yen rose slightly by 0.1% during the Asian session, with the dollar trading at 155.26 yen