The Nikkei average recovered into positive territory against the previous day as buybacks spread following early selling, ending at ¥65,856.43. At the close, trading volume on the TSE Prime Market exceeded 1.9 billion shares and trading value exceeded ¥7 trillion.
U.S. stocks were generally mixed the previous day, with the Nasdaq remaining weak amid a lack of catalysts for semiconductor-related stocks. The Dow, meanwhile, was firm on falling crude oil prices and lower long-term interest rates, but the Nikkei average came under selling pressure from the opening.
After the initial selling subsided, however, the decline narrowed, and the calmer tone in crude oil futures and U.S. long-term interest rates in overseas markets provided reassurance, prompting buybacks that brought the index back into positive territory. The Nikkei traded around ¥65,800 toward the end of the session and finished higher.
At the close, the Nikkei average was up ¥328.34 from the previous day at ¥65,856.43. By sector, nonferrous metals, insurance, and securities and commodity futures rose, while transportation equipment, marine transportation, and rubber products declined.
Among individual stocks, gainers included Fujikura, TDK, Tokyo Electron, Ibiden, SoftBank Group, KDDI, and Recruit Holdings, while decliners included Advantest, Fast Retailing, Disco, Fanuc, Honda, Toyota, and Shin-Etsu Chemical.
Investors will focus on the release of Nvidia's earnings on the 26th and the Federal Reserve chair's speech at Jackson Hole on the 28th as potential market catalysts.