The Nikkei Average remained around the lows, with the market continuing to lack clear catalysts. Although the 28th was the last trading day with rights attached and there were expectations of buying for dividends and shareholder benefits, market movement remained limited.
The Nikkei Stock Average remained around the lows in both the morning and afternoon sessions, with market participants pointing to a lack of catalysts and directionless trading. Daily price movements were limited, and buying and selling momentum remained weak.
At the afternoon open, the Nikkei Average started in the upper part of its opening range, then fell again subsequently, with some market observers attributing this to profit-taking sales.
As of 10:17, the index had temporarily risen as high as ¥67,034.74, recovering the ¥67,000 level, but the market continued to face a phase in which gains were capped. There were also expectations of buying ahead of the last day with rights attached, and reports said the gain since the 16th had reached approximately ¥3,000 in about 5 trading days.
After the open, the Nikkei Average started above the previous day's level, and some semiconductor stocks pushed the market higher. By sector, metal products and pharmaceuticals were among the decliners, while insurance, banks and machinery were among the advancers.
The TOPIX moved around the open that day. Trading volume was reported at more than 1 billion shares, and trading value at more than ¥3 trillion.
(End) From Jiji Press.