On the 26th, the Nikkei average continued to rise in the afternoon session, with buying back shares prevailing after the open. The market moved sideways near its highs in the afternoon, while Advantest and SoftBank Group drew attention as the main drivers of price movements.
In the afternoon session, buying back shares spread across the Nikkei average following its morning-session performance. Although selling prevailed immediately after the open, buying picked up against a backdrop of lower crude oil prices and declining long-term US Treasury yields, keeping the market near its highs. Among individual stocks, Advantest, SoftBank Group, Daiichi Sankyo and Recruit Holdings were among those rising.
The Nikkei average resumed its rise from the morning-session close, ending the morning session at 66,227.55 yen and opening the afternoon session at 65,604.49 yen. The Nikkei continued to move as investors anticipated sideways trading near its highs in the afternoon session, but some market participants were taking the view that aggressive buying should be avoided, as the market was also at a level where the 75-day moving average was seen as resistance overhead.
USD/JPY fell from the upper ¥159 range to the ¥158 range, while NYMEX crude oil futures declined to the low $80s. The euro/yen and euro/dollar exchange rates also moved weakly. Developments in overseas markets are expected to affect trading in the afternoon session.
Among the stocks to watch in the afternoon session, 7 stocks, including Terra Drone and Silicon Studio, reached their daily price limits at times. Meanwhile, Tokyo Electron, Kioxia Holdings and Taiyo Yuden were among the stocks that declined.