The Nikkei Average rose significantly with Fast Retailing leading the way for the third consecutive day, overall leaning towards selling.

October 11, 2024, 3:38 PM GMT+9 (excerpt)

On the Tokyo stock market, the Nikkei Average closed the trading session at 39,605.80 yen, up 224.91 yen from the previous business day, marking a third consecutive rise. Fast Retailing (9983.T), with significant index ETF contribution, surged significantly following positive earnings, lifting the Nikkei Average. As the market moves into a 3-day holiday period, there were limited aggressive positions taken, and selling prevailed overall. The Tokyo Stock Price Index (TOPIX) fell.
The Nikkei Average opened 255 yen higher, but remained indecisive throughout the day. In the afternoon, as Fast Retailing rose further, the Nikkei Average saw a slight increase, reaching a high of 39,668.93 yen with a gain of 288 yen, before narrowing the increase. Concerns over the deteriorating Middle East situation and the changing market conditions during the holiday period made profit-taking selling likely.