At the opening of the afternoon session, the Nikkei Average was ¥542.03 higher than the previous day at ¥68,319.55, starting with gains widening from the morning close. As semiconductor-related and electronic component stocks saw buying return, TOPIX remained only modestly higher.
At the opening of the afternoon session, the Nikkei Average started ¥542.03 higher than the previous day at ¥68,319.55, while Nikkei 225 futures traded ¥430 higher than the previous day during the lunch break. The dollar-yen rate was in the ¥158 range, while in Asian markets the Shanghai Composite was modestly higher and the Hang Seng Index was also generally rising. Buying led the market compared with the morning close, and the Nikkei Average widened its gains.
Buying was particularly evident in semiconductor-related and electronic component stocks, while dip-buying focused on attractive valuations was readily taking place. TOPIX remained only modestly higher, and expectations are that aggressive buying will be limited, as declines in US semiconductor stocks and uncertainty over the situation in the Middle East remain factors warranting caution.
Among the most heavily traded stocks on the TSE Prime Market, Taiyo Yuden, SoftBank Group, Fujikura, Advantest and Hitachi rose. By contrast, Olympus, AEON, Mizuho, Kioxia Holdings, Mitsubishi UFJ, Sumitomo Mitsui, Tokio Marine, JX Advanced Metals, SUMCO and NTT were lower.
Overall, buying led the market in many instances, with stocks driving the indexes determining their direction. By sector, nonferrous metals, chemicals and electric appliances were notably higher, while declines were particularly evident in banking, securities and commodity futures, and air transportation.