Copper Wire and Chemicals Rally as Autos and Financials Drag Broad Market Lower — October 02, 2026

Market Overview

Tokyo equities presented a sharply divided picture on October 2, 2026, with a strong rally in nonferrous metals and materials stocks unable to offset broad-based weakness across financials, automobiles, real estate, and consumer sectors. The session highlighted a clear rotation dynamic, with commodity-linked and infrastructure-related names drawing investor interest while rate-sensitive and discretionary sectors faced significant selling pressure. The overall tone leaned cautious, with decliners outnumbering gainers across the majority of Nikkei 225 industry groups.

Top Gainers

The day’s standout performers were concentrated in materials and technology infrastructure, suggesting investors are repositioning toward supply-chain and industrial themes.

• Resonac Holdings (4004) surged +8.71%, leading the entire Nikkei 225, as the specialty chemicals and semiconductor materials group attracted strong buying interest.
• Furukawa Electric (5801) jumped +7.68%, with fellow wire and cable manufacturers Fujikura (5803) (+4.28%) and Sumitomo Electric Industries (5802) (+3.50%) also posting sharp gains — a cluster move pointing to renewed demand expectations for electrical infrastructure and data center connectivity.
• BayCurrent Inc (6532) advanced +6.15%, continuing to reflect solid appetite for domestic consulting and digital transformation services.
• Mitsui Kinzoku (5706) rose +3.61% and Sumco Corporation (3436) gained +3.34%, reinforcing the session’s metals and materials theme.
• In the semiconductor equipment space, Advantest (6857) climbed +2.71% and Rohm (6963) added +2.41%, offering a degree of resilience to the broader tech sell-off.

Top Decliners

Selling was broad and at times severe among Japan’s larger-cap names in growth, consumer, and financial categories.

• SoftBank Group (9984) fell -5.83%, the steepest decline on the index, as sentiment toward the tech-investment conglomerate remained fragile.
• Nissan Motor (7201) dropped -4.97% and Mazda Motor (7261) shed -3.12%, reflecting persistent headwinds for Japanese automakers amid ongoing competitive and macro pressures.
• Terumo (4543) declined -4.59% and Shiseido (4911) fell -4.31%, signaling weakness in healthcare and premium consumer brands.
• Tokyo Electron (8035) retreated -3.82%, a notable pullback for one of Japan’s flagship semiconductor equipment makers.
• Mitsui Fudosan (8801) slid -3.32%, consistent with broad real estate sector underperformance on the day.

Sector Snapshot

The sector leaderboard told a clear story of commodity strength versus financial and structural weakness. Mining (+2.35%) and Nonferrous Metals (+2.32%) led all groups, buoyed by the surge in wire, cable, and materials names. Oil & Gas (+1.68%) and Gas (+1.10%) also posted solid gains, suggesting energy-linked plays found buyers.

On the losing side, the damage was widespread. Securities (-2.77%), Automobiles (-2.74%), Real Estate (-2.48%), Other Financials (-2.52%), and Precision Instruments (-2.58%) were among the worst performers. Pharmaceuticals (-1.99%), Telecommunications (-2.16%), Banks (-1.47%), and Insurance (-1.77%) also faced meaningful declines, suggesting a risk-off undercurrent beneath the materials rally.

Source: Tokyo Stock Exchange data | Japan Economic News