In Tokyo trading on the 4th, the Nikkei average was up ¥539 from the previous day at the start of the afternoon session, with buying spreading mainly across semiconductor-related stocks. The foreign exchange market moved toward a weaker yen and stronger dollar, while Asian markets also showed risk-on sentiment.
The Nikkei Stock Average began the afternoon session in Tokyo trading on the 4th at ¥539.00 above the previous day, almost unchanged from its level at the morning close. Although there were periods when selling by investors waiting to sell into a rebound pushed the market down from its morning highs, the market overall continued its sharp rebound.
The TOPIX fell 7.69 points from the previous day to 4,094.35, a modest decline despite the Nikkei average's rise. Among Nikkei 225 constituents, semiconductor and electronic-component stocks rose broadly, with Kioxia Holdings, Taiyo Yuden and SoftBank Group among the stocks attracting buying.
Meanwhile, Mitsui & Co., Mitsui O.S.K. Lines, Mitsubishi Corporation, Takeda Pharmaceutical, Nippon Yusen, Marubeni and Lasertec were among the stocks with the highest trading values to decline. By sector, information and communications, nonferrous metals, and securities and commodity futures rose, while marine transportation, pharmaceuticals and wholesale trade lagged.
Against the backdrop for the overall market, some market participants believe that falling domestic long-term interest rates are supporting buying in equities. Some investors also want to assess the August US jobs report due tonight and the Federal Reserve's monetary policy decision, raising the possibility that a wait-and-see stance will strengthen toward the close.