The Nikkei Average rose sharply by ¥685 in Tokyo trading on the 28th, closing at ¥63,954.19. TOPIX, meanwhile, fell, while bargain hunting in tech stocks supported the market.
The Nikkei Average extended its advance in Tokyo trading on the 28th, rising ¥685.82 from the previous day to ¥63,954.19. Following gains in U.S. tech stocks, AI- and semiconductor-related shares attracted bargain hunting, and the index briefly recovered to the ¥64,000 range in the morning.
TOPIX, meanwhile, fell 5.66 points to 3,991.71, with decliners predominating. At times, easing concerns over the situation in the Middle East and movements in U.S. crude oil prices influenced the market.
Among individual stocks, Advantest and Tokyo Electron opened with buy orders queued, while SoftBank Group rose. Hitachi and Toyota Motor also remained firm, while Sumitomo Mitsui Financial Group and Sony Group were weak.
Buying was concentrated in tech stocks, while the decline in TOPIX was viewed as an indicator of the market's overall resilience. The focus ahead will be on spillover into sectors outside technology and developments in key events.