The Tokyo market's Nikkei Average remained in positive territory, but its gains narrowed. It opened the afternoon session up ¥322.19 from the previous day, but selling resumed in some high-priced AI and semiconductor stocks, limiting the market's overall gains.
At the afternoon session open, the Nikkei Average opened at ¥63,815.18, up ¥322.19 from the previous day, but some high-priced AI and semiconductor stocks fell into negative territory, narrowing the gain.
During the first half of morning trading, the Nikkei Average rebounded and was trading at ¥64,082.36, up ¥589.37 from the previous day. Buying returned after selling subsided, while the TOPIX edged down 1.15 points to 4057.06. Trading volume was 815.11 million shares, and trading value was ¥3.5593 trillion.
By sector, information and communications, pharmaceuticals, and electrical appliances rose, while banking, oil and coal products, and insurance declined. At 10:10 a.m., the Nikkei Average was temporarily up more than ¥300, but selling in AI stocks resumed after the open, and the index was expected to post its third consecutive decline. SoftBank Group was seeing renewed buying after falling sharply the previous day. The article reports that investor sentiment remains under pressure amid developments in U.S. markets and movements in crude oil prices and interest rates.