The Nikkei average extended its gains in Tokyo morning trading, rising approximately ¥580 from the previous day. A broad range of stocks attracted buying on the positive reaction to higher U.S. equities, but the market lost momentum mid-session.
The Nikkei average stood at ¥68,889.01 in morning trading, up 0.85% from the previous day, as buying spread against a backdrop of gains in U.S. equities and lower oil prices. The index briefly rose above ¥69,200, but lost momentum from mid-session partly due to weekend-related factors.
TOPIX hit a record high for the second consecutive day and ended the morning session above 4,200 points. Trading value on the TSE Prime Market was approximately ¥5.7222 trillion, with buying apparently leading in some stocks.
Among individual stocks, Kioxia Holdings remained firm on active trading. Advantest hit a record high for the second consecutive day, while Lasertec was lackluster. Semiconductor-related stocks remained firm against a backdrop of a summer rally in U.S. equities.
Ahead of the afternoon session, investors are expected to become more reluctant to buy after the initial round of buying subsides. Market participants said TOPIX's record high indicates the breadth of buying interest, while cautioning that attention should be paid to the trend in earnings announcements scheduled for next week.