Tokyo stocks remained rangebound as investor attention shifted from the FOMC to the Bank of Japan's Monetary Policy Meeting outcome, with investors maintaining a wait-and-see stance.
The Nikkei Stock Average remained rangebound at a modestly higher level. Following the FOMC decision, market attention appears to have shifted to the outcome of the Bank of Japan's Monetary Policy Meeting, which will be released tomorrow.
The Nikkei began the afternoon session up ¥255.65 from the previous day, with broad-based buying and generally firm trading. The Prime Market as a whole was firm at the morning close, and the index was up more than ¥700 at one point after the open, but AI-related issues remained soft as concerns over a slowdown in AI development weighed on the market.
The Nikkei was up ¥720 from the previous day at 10:14 a.m. at the open, but later struggled to extend its gains. While gains in AI-related and semiconductor stocks narrowed, there were also indications that most Prime Market issues continued to rise. By the end of the morning session, trading volume had reached 915.10 million shares and trading value ¥3.6036 trillion.
The Nikkei opened at 64,643.58, up ¥720.58 from the previous day. As the yen moved weaker against the backdrop of the U.S. FOMC outcome, buying led the market across a broad range of issues.