# 【速報】日経平均、一時7万円回復！最高値、奪還なるか？

- Show: 経済ニュース　今日の気になる話題
- Published: 2026-10-05
- Canonical: https://podc.club/en/episode/1775130625_058ed4383566.html
- Audio: https://anchor.fm/s/f814433c/podcast/play/126865523/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-9-5%2F0417a578-a6ef-6fd0-e5ce-5dbe1379b45e.mp3
- Source: Edited from a machine transcript of the first 30 minutes of the episode. Not an official summary.

The Nikkei Stock Average reclaimed the 70,000 level for the first time in roughly three months on October 5, 2026, after U.S. non-farm payrolls came in far below forecasts and bets on a Fed rate hike collapsed. The rally was narrower than it looked, with just four semiconductor- and AI-linked stocks accounting for roughly 1,100 yen of the gain. The episode also covers New York City Mayor Zohran Mamdani's four progressive policies, and Kawasaki Heavy Industries' plan to commercialize a humanoid robot by 2030 using the domestic physical-AI platform Noetla.

## What this episode answers

### Why did the Nikkei recover the 70,000 level for the first time in about three months?

The primary driver was the U.S. non-farm payrolls report, which showed only 29,000 new jobs against a consensus of 90,000, causing bets on a Fed rate hike at the October meeting to collapse and expectations of a hold or cut to flip above 80%, boosting semiconductor and AI stocks across the board.

### Which stocks actually drove the Nikkei's rise?

Four stocks — Advantest (+360 yen), Tokyo Electron (+336 yen), Fast Retailing (+236 yen), and SoftBank Group (+151 yen) — together contributed roughly 1,100 yen to the index; advancers (863) barely outnumbered decliners (634), making this a selective rather than broad-based rally.

### Of New York City Mayor Mamdani's four policies, which one has actually been implemented?

Only the rent freeze is in force, operating through a commission that sets the allowable rent increase for the following year on a per-lease-term basis; the city-run grocery stores, free bus service, and wealth tax all remain unrealized.

### What is the concept behind the humanoid robot Kawasaki Heavy Industries is developing?

Building on the Kaleido humanoid platform developed since 2015, Kawasaki Heavy will equip it with the Noetla physical-AI system from a 40-plus-company domestic consortium backed by 1 trillion yen in government funding over five years, targeting remote-operated factory and warehouse work first before transitioning to full autonomy by 2030.

### How far ahead is China in the global humanoid robot market?

China already accounts for roughly 90% of global humanoid robot sales, with Unitree leading at about 5,500 units sold at approximately $6,000 — one-third to one-fifth the price of Tesla's robot — while Tesla remains at around 100 units.

## Article

## Nikkei Recovers 70,000 as Weak U.S. Jobs Data Sinks Fed Rate-Hike Bets

On Monday, October 5, the Nikkei Stock Average reclaimed the 70,000 level for the first time in roughly three months. The intraday high reached 70,072, clearing the August 14 peak of 69,608. The next level in focus is 72,831, the high set on June 22. At the close, the index finished at 69,946 — just below 70,000 — still representing a gain of about 7,500 yen from the late-September trough around 62,700 in fewer than three weeks.

The immediate trigger was the U.S. non-farm payrolls report released the previous Friday. The headline number came in at just 29,000 new jobs, well short of the consensus estimate of 90,000. The miss caused rate-hike expectations for the Fed's October meeting to retreat sharply, with bets on a hold or cut flipping above 80%. The dollar fell to the 156-yen range against the yen. The U.S. 10-year Treasury yield stood at 5.25%, the 5-year at 5.02%, while the Dow gained 250 points.

## Four Stocks Drive a 1,100-Yen Surge — "The Usual Suspects"

The advance was narrower than it appeared: 863 stocks rose while 634 fell, making this a selective rather than broad-based rally. Four semiconductor- and AI-linked names did the heavy lifting. Advantest added 360 yen to the index on its own; Tokyo Electron contributed 336 yen; Fast Retailing 236 yen; and SoftBank Group 151 yen — a combined boost of roughly 1,100 yen. Fast Retailing earned its place with September same-store sales rising 10.8% year on year, returning to positive territory for the first time in two months and standing out as the sole non-semiconductor name in the group.

Among individual movers, autonomous-driving startup Tier4 (ticker: 593A) attracted attention after being selected for a Global South subsidy under the FY2025 supplementary budget to advance self-driving bus trials in Saudi Arabia. The stock debuted around the low 1,000-yen range after its July IPO, fell as low as the 800s, then hit a high of 3,790 yen on September 4; it stood at 2,193 yen on the day, up 15%. An insurance holding company holds roughly 24% of the shares. Over the past year, Terra Drone (278A) has risen roughly sixfold, while regional banks including Fukui Bank (8362) and Yamagata Bank have gained roughly fourfold and 3.5 times, respectively. Earnings releases from Yoshinoya and CoCo Ichibanya showed operating profit growth of around 19–22%.

## New York Mayor Mamdani's Four Progressive Policies: Only One Delivered

Drawing on a Nikkei column, the episode reviewed the agenda of New York City Mayor Zohran Mamdani (ゾーラン・マムダニ), who took office in January. The self-described democratic socialist campaigned on four pillars: (1) a rent freeze, (2) city-run grocery stores offering up to 30% discounts, (3) higher taxes on the wealthy, and (4) free bus service.

Only the rent freeze is in effect. A commission determines the allowable rent increase for the following year, reviewed separately for one- and two-year leases. The city-run grocery stores are in an RFP process targeting a late-2027 opening. Free bus service requires negotiations with New York State, and the wealth tax has no clear timeline — both remain unrealized.

Side effects also came under scrutiny. A rent freeze risks cutting landlord income to the point where maintenance spending falls. A wealth tax could push high earners to lower-tax states. City-run grocery stores operating on 2–3% margins could devastate minority-owned small food shops — primarily Hispanic- and Asian-owned — potentially triggering lawsuits. On a positive note, the administration has eliminated more than 50 outdated regulations, including a permit system for ice cream manufacturing that dated to pre-World War II refrigeration standards. The column called on Japan to similarly revisit anachronistic rules such as farmland regulations and ride-share restrictions.

## Kawasaki Heavy Industries to Develop Humanoid Robot Using Domestic Physical AI "Noetla"

Kawasaki Heavy Industries (川崎重工業) announced plans to develop an AI-equipped autonomous humanoid robot. Building on its Kaleido (カレイド) platform — in development since 2015 — the company targets commercialization by 2030. The initial phase will use remote operation for factory and warehouse patrols, parts transport, and simple tasks, with a gradual transition to fully autonomous operation.

The robot will run on the physical-AI platform from Noetla (ノエトラ), a domestic consortium in which Kawasaki Heavy itself is an investor. Noetla brings together more than 40 companies, with SoftBank, NEC, Sony, and Honda at its core; the government has pledged 1 trillion yen in support over five years. Other members include Rakuten, Fujitsu, the three major megabanks, Omron, and Sumitomo Life Insurance. The episode noted skepticism about the track record of past government-led industry consortia.

Globally, humanoid robot sales stand at just over 10,000 units, with roughly 90% made in China. The top seller is China's Unitree (ユニツリー) with about 5,500 units at approximately $6,000 (around 1 million yen) — one-third to one-fifth the price of Tesla's robot. Tesla remains at around 100 units.

The episode highlighted Moravec's Paradox: while AI can beat world chess champions and score highly on medical and bar exams, tasks a three- or four-year-old can do — unscrewing a bottle cap, pouring the right amount into a glass, and resealing it — remain stubbornly difficult. Demand for robots in elder care is high, but direct physical contact with the human body remains a distant goal. The program closed by pointing to China's lead in both robotics and drones, flagging the risk of military conversion and underscoring Japan's need to close the gap.

## Takeaways

- The Nikkei's return to 70,000 was driven by a dramatic miss in U.S. jobs data that crushed Fed rate-hike bets, but the real story is that just four stocks — Advantest, Tokyo Electron, Fast Retailing, and SoftBank Group — accounted for roughly 1,100 yen of the move in what was not a broad-based rally.
- Of NYC Mayor Mamdani's four headline progressive policies, only the rent freeze is operational; the remaining three — city grocery stores, free buses, and a wealth tax — face structural and political obstacles and carry side-effect risks that remain unresolved.
- Kawasaki Heavy Industries' Noetla-powered humanoid robot plan is ambitious, but China already controls about 90% of the global market at a price point of roughly $6,000 per unit, and Moravec's Paradox underscores that basic physical dexterity remains an unsolved challenge.