The Nikkei average rebounded at the opening of the morning session on the 10th, rising to around ¥66,600. Buying spread to AI- and semiconductor-related stocks after weaker-than-expected US employment data reduced expectations for an early Federal Reserve rate hike.
The Nikkei average opened higher in the Tokyo stock market's morning session on the 10th, gaining approximately ¥1,000 from the previous weekend's close and trading around ¥66,600. Optimism in US markets grew after weaker-than-expected employment data, prompting buying in AI- and semiconductor-related stocks.
US employment data reportedly showed nonfarm payrolls falling by 23,000 from the previous month, while figures for May and June were also revised downward. Views spread that the Federal Reserve would have more room to assess inflation trends without rushing to raise interest rates, supporting buying in the stock market.
Following gains in US technology stocks, AI- and semiconductor-related stocks such as Advantest and Ibiden also attracted buying in Tokyo. The Tokyo Stock Price Index (TOPIX) continued to rise, and buying was also seen in other stocks.