The Nikkei Average rebounded in Tokyo morning trading on the 10th, closing ¥1,324.77 higher than the previous day at ¥66,931.48. Against a backdrop of receding expectations for a US rate hike, the Nikkei Average broke above its 25-day moving average, regarded for many years as a resistance line.
Buying led the Tokyo stock market on the morning of the 10th as expectations for a US rate hike in the United States receded, and the Nikkei Average rebounded to close ¥1,324.77 higher than the previous day at ¥66,931.48. The index rose further at times during trading, briefly moving above the ¥67,000 level. The Nikkei Average showed signs of breaking above its 25-day moving average, which market participants had watched for many years, indicating strong buying appetite.
On the 7th, Recruit Holdings announced an upward revision to its full-year earnings outlook, and the company's shares were reportedly bought up to near the upper price limit. Alongside movements in US stocks, the market that day showed renewed momentum after a period of subdued buying, and the Nikkei Average's rise was attributed to receding expectations for a US rate hike.