The Nikkei 225 was temporarily up more than ¥500 during the morning of the 11th, as a technical rebound from six-month low levels and buybacks in semiconductor-related stocks pushed the market higher. The TOPIX also remained firm.
The Nikkei 225 extended its gains in the Tokyo stock market during the morning of the 11th, at one point recording an increase of more than ¥500. It was trading ¥426.93 higher than the previous day's close, at ¥60,886.51, while the TOPIX was also firm, up 32.92 points at 3,926.63. Market participants attributed the buying to perceived value.
Buybacks on perceived value and gains in semiconductor-related stocks were cited as factors pushing the market higher. The Nikkei 225 remained at its lowest level since May, prompting growing views that it had been oversold. Advantest and Tokyo Electron were among the stocks bought, increasing their contribution to the index's gains.
The market was supported by the Dow's rise in the previous day's U.S. session, its first gain in 3 trading days, as well as buybacks in AI and semiconductor-related stocks and easing concerns over lower oil prices and inflation. Buying orders were dominant in Japan, particularly for AI and semiconductor-related stocks.
Among major stocks, Advantest, Tokyo Electron and SoftBank Group were favored on the buy side, while Bandai Namco Holdings rose after announcing strong results. Buy-the-dip activity remained dominant as the market absorbed profit-taking following the previous day's gains.