The Nikkei Average was up ¥951 in afternoon trading, with investors focused on corporate earnings releases and developments in US economic data.
The Nikkei Average was up ¥951 as of 14:50. Advantest, Tokyo Electron and Ibiden were the top positive contributors, while Fast Retailing, FANUC and KONAMI Group were the top negative contributors. By sector, banking, electric appliances, glass and ceramics products, metal products and machinery rose, while rubber products, iron and steel, transportation equipment, insurance and other products fell.
Nexon and Trial Holdings are scheduled to announce their earnings later today, while the US is due to release weekly initial jobless claims and the July Producer Price Index (PPI) tonight. Among corporate earnings announcements, Applied Materials is expected to report its results for May-July.
The overall market remains firm, but its limited upside is also drawing attention. Investors are closely watching the timing of earnings announcements and US economic data releases.