NF-Q-01-001-5-en.html
● Level 5 · IntermediateWhat Is the Difference Between the Nikkei 225 and TOPIX?
The main reasons they move differently are their constituents and calculation methods.
The Nikkei 225 is more sensitive to high-priced shares. TOPIX is generally influenced more by companies with large free-float-adjusted market capitalizations.
If the Nikkei 225 rises 2.5% while TOPIX gains only 0.5%, a small group of stocks with large Nikkei influence may be leading. Check market breadth, sector performance and trading value as well.
Conclusion: The gap between the indices is a clue to how widely the market advance has spread.