In Tokyo trading on 12 August, the Nikkei 225 gained ¥553 and TOPIX set a new record closing high. Bank, AI and semiconductor stocks were bought as the yen weakened. Investors also remained cautious ahead of the US CPI release.
In yesterday's trading, the Nikkei 225 closed at ¥67,524.06, up ¥553.84 from the previous day, while TOPIX rose 38.39 points to 4,139.00, setting a new record closing high. The weakening yen prompted buying in bank stocks, while funds also flowed into AI- and semiconductor-related stocks.
In morning trading, selling prompted by the rise in crude oil futures and buying on the weaker yen offset each other, leaving the Nikkei 225 in a directionless range, although TOPIX remained in positive territory throughout. The morning session ended up ¥69.96.
In the afternoon, buying of high-priced AI- and semiconductor-related stocks intensified as SOX rose and KOSPI remained firm, and the Nikkei 225 extended its gains. After opening at around ¥67,225.55 in the afternoon session, it held near its high for the rest of the session and closed at the end of trading.
Across the market, 52% of stocks in the Prime Market rose, while trading value was subdued as investors became increasingly cautious ahead of the US CPI release. The weaker yen provided underlying support, with expectations for improved earnings at exporters and the earnings outlook for the banking sector supporting the market.