The Nikkei average was trading approximately ¥1,310 above the previous weekend's close on the morning of the 7th and remained at high levels after opening higher. Buying factors stemming from the U.S. employment report and firm semiconductor stocks supported the market.
The Nikkei average was trading around ¥66,330 in the morning session on the 7th, approximately ¥1,310 above the previous weekend's close. It rose at 9:27 a.m. to as high as ¥66,393.04, up approximately ¥1,372. The previous day's U.S. market saw expectations for interest-rate hikes resurface following the employment report, while buying centered on semiconductor-related stocks spread to the Tokyo market. The local futures settlement price was ¥66,5830, approximately ¥810 above the previous weekend's close.
By sector, 23 of the 33 sectors rose. Shipping, steel, electrical equipment, oil, machinery, wholesale, nonferrous metals and electric equipment stocks traded firmly. In contrast, other products stocks, including ASICS and Nintendo, as well as bank stocks, were relatively soft.
Among individual stocks, Nippon Yusen, Mitsui O.S.K. Lines, Nippon Steel and JFE Holdings rose. Meanwhile, performance remained mixed among some machinery and IT-related stocks, including Disco, and movements in supply-chain-related stocks were also said to warrant attention. The exchange rate was around ¥156 to the dollar and in the low ¥181s to the euro.