In the afternoon session on the 16th, Japanese stocks saw buying to cover broaden, and the Nikkei Average recovered to the ¥65,000 range. The dollar weakened against the yen, while Tokyo Electron and Recruit Holdings were the top contributors.
The Nikkei Average ended the morning session ¥1,124.73 higher at ¥65,550.68, with trading volume estimated at 1.04682 billion shares. Against the backdrop of a rebound in U.S. stocks the previous day, the Nikkei opened higher, and buying spread across a broad range of sectors, including electronic components, machinery and services.
Following the trend in U.S. markets, the Nikkei continued to rise after opening from around ¥64,925.29, with nearly all of the 33 sectors on the Tokyo Stock Exchange advancing. Among individual stocks, Tokyo Electron, Recruit Holdings, Ibiden, SoftBank Group and Fast Retailing rose, while declines were limited.
The dollar fell to around ¥158 at times against the yen, as dollar buying contracted amid a lack of momentum in the U.S. 10-year Treasury yield. The euro rose to around the ¥177 level against the yen and to the ¥1.1220 level against the dollar.
As stocks to watch in the afternoon session, 9 issues, including Daisue Construction and SecureVeil, were observed hovering at limit-up levels. No notable economic indicators were released, and comments from Bank of Japan officials and international developments remained key market focuses.