The Nikkei Average has been capped during the afternoon session and is trading in the high ¥69,000s without surpassing the morning session close. Market participants say a recovery to the ¥70,000 range is likely to be limited.
The Nikkei Average was capped during the afternoon session and is trading in the high ¥69,000s without surpassing the morning session close. Concerns about globally rising interest rates remain, and market participants say there are no additional buying catalysts.
The Nikkei Average opened sharply higher at the start of the afternoon session, but although large semiconductor-related stocks were bought, profit-taking selling also emerged, capping gains toward ¥70,000. At the morning close, the Nikkei Average was reported to be up ¥1,728 from the previous business day at ¥70,037.61, while TOPIX stood at 4,138.57.
Morning-session trading volume was 978.04 million shares, with trading value of ¥3.7538 trillion. By sector, electrical equipment and machinery rose, while marine transportation, mining, and oil and coal products tended to decline. The Standard TOP20 and growth-oriented markets also rebounded.
The Nikkei Average approached the ¥70,000 range at times during morning trading but did not reach ¥70,000, as a lack of macroeconomic catalysts and uncertainty over interest-rate trends weighed on the market.