The Nikkei 225 recovered to the ¥70,000 range in the Tokyo market, its first time at that level in 3 months. Expectations for an early rate hike receded after U.S. payrolls fell short of market expectations, while buying spread, led by semiconductor stocks.
In Monday's Tokyo market, the Nikkei 225 recovered to the ¥70,000 range and reached ¥70,000 during trading. The Nikkei returned to this level for the first time in 3 months, with its gain at one point approaching ¥1,800.
The backdrop was the U.S. employment report released at the end of the previous week, which fell short of market expectations. This reduced expectations for an early U.S. rate hike and strengthened risk appetite in global markets.
In Japan, broad-based buying emerged, led by semiconductor-related shares. Buying spread, particularly among economically sensitive stocks, in response to market movements in the United States.