The Nikkei average staged a sharp rebound on the Tokyo stock market on the 10th, briefly rising to approximately ¥1,330 above the previous day's level. Buying in semiconductor-related stocks drove the market, with those stocks making notable positive contributions as of 11 a.m.
The Nikkei average surged in morning trading, rising approximately ¥1,330 from the previous close and extending its gain to around ¥66,931.48 at the close of the morning session. On the TSE Prime Market, advancers substantially outnumbered decliners, indicating an improvement in investor sentiment.
Semiconductor-related stocks made notable contributions. Advantest contributed ¥378.93 as of 11 a.m. and ¥398.24 at the close of the morning session, while Recruit Holdings and Tokyo Electron also made significant contributions. Fujikura and Ibiden were among the other positive contributors.
Among the negative contributors, KDDI was a ¥63.96 drag as of 11 a.m., widening to ¥64.76 at the close of the morning session. Secom, SoftBank Group, Fast Retailing and Mitsui Mining & Smelting were also among the decliners.
Some market participants said the market was lifted by a rebound from the previous weekend's decline, calmer overseas markets and expectations for semiconductor stocks. At the same time, there was a sense that investors were waiting to sell before the Nikkei average reached the ¥67,000 range, and attention is focused on afternoon trading.