The annual Moon Art Night Shimokitazawa in Tokyohas boosted local business as glowing installations and immersive performances attract flocks of visitors.
Now in its fourth year, the moon-themed outdoor art festival kicked off on Sept 20 and has transformed the Shimokitazawa neighborhood into a bustling cultural and commercial hotspot.
Organized by a Japanese railway company and the local business association, the event features concerts, food stalls, and interactive theater, drawing large crowds of visitors.
One of the festival's standout attractions is a full moon-shaped installation with a diameter of seven meters. It has become a magnet for photo-takers and music lovers.
"I saw this place on social media and thought it amazing. The moon is beautiful, and it's a great spot to relax with a drink," said a visitor.
Other highlights include a glowing "Schrodinger's Cat" light exhibit and an astronomy-themed installation combining fluorescent threads with sound art.
Using an application, audiences can explore major commercial facilities in the block following a 45-minute storyline
The response has been enthusiastic, according to Yui Takeshima, director of the immersive play Cat Town.
"We've welcomed around 2,000 viewers so far, which is an unprecedented number. And tickets for all 90-plus shows have sold out," said Takeshima.
Over 100 local shops joined the festival this year -- the largest participation to date -- offering limited-time products and discounts. According to a food street operator, the number of visitors has more than doubled compared to previous years.
"There are noticeably more visitors in the evening. We've visited several shops, and the feedback we received indicated a clear rise in the number of consumers and a surge in sales," said Yuki Nakamori, an employee of a local food street management company.
Tokyo's moon-themed art festival boosts local business
U.S. stocks ended mixed on Friday following the market's steepest declines in a month.
The Dow Jones Industrial Average fell 309.74 points, or 0.65 percent, to 47,147.48, marking its second straight drop but still notching a weekly gain. The S and P 500 slipped 3.38 points, or 0.05 percent, to 6,734.11. The Nasdaq Composite Index rose 30.23 points, or 0.13 percent, to 22,900.59, snapping a three-day losing streak.
Seven of the 11 primary S and P 500 sectors finished lower, with materials and financials leading the laggards, down 1.18 percent and 0.97 percent, respectively. Energy and technology outperformed, advancing 1.37 percent and 0.74 percent, respectively.
The tech trade regained some footing after several days of pressure. AI leaders Nvidia and Oracle rebounded from their losses in the prior session, as did Palantir Technologies and Tesla, both of which had dropped more than 6 percent on Thursday.
Those sharp declines had briefly put the Nasdaq on course to break its seven-week winning streak, but Friday's recovery lifted the index back into positive territory for the week. Concerns about the sustainability of the AI rally have intensified, with the recent rout in cloud-computing giant Oracle heightening worries over stretched valuations, heavy reliance on debt financing, and soaring capital expenditure plans across the sector.
"AI is truly testing the limits of Wall Street spreadsheets right now," David Krakauer, vice president of portfolio management at Mercer Advisors, told CNBC, adding that investors pricing in "so much of this future growth that they really can't measure yet" just spurs an "environment of swings."
Adding to the market unease, traders continued to assess the Federal Reserve's upcoming policy decision. Market pricing now puts the odds of a quarter-point rate cut in December at below 50 percent, which is sharply lower than the roughly 95 percent probability seen a month ago, according to the CME FedWatch Tool.
U.S. stocks close mixed following steep declines
U.S. stocks close mixed following steep declines
