StocksMedium•5 November 2026•
1 min read
Japan Markets Diverge: Topix Rallies on Lower Oil as Tech Slump Drags Nikkei
Key Facts
1The Topix index rose 1.3% on lower oil prices, while the Nikkei slipped 0.5% due to losses in heavyweight tech stocks.
2Advantest fell 10%, Tokyo Electron 9%, and SoftBank Group 5% amid fears of slowing US data center expansion.
3Democratic gains in US midterms led to a sharp drop in crude oil, benefiting Japan's energy-importing domestic sectors.
The Topix index rose 1.3% on lower oil prices, while the Nikkei slipped 0.5% due to losses in heavyweight tech stocks. Reuters reported that a sharp drop in crude oil followed Democratic gains in the US midterm elections, raising hopes for an end to the Iran war and benefiting Japan's energy-importing domestic sectors.
Advantest shares fell 10% to close at $216.01 on November 4, 2026, while Tokyo Electron dropped 9% to close at 9,663 yen on the same date. SoftBank Group also declined 5%, closing at $13.05 amid fears of slowing US data center expansion, whereas Toyota closed at $199.46 and Nintendo finished at $13.76 on November 4, 2026.