The Nikkei Stock Average rebounded sharply in morning trading in Tokyo on the 5th, briefly recovering the ¥70,000 range. Buying spread across the market, particularly in AI and semiconductor stocks, as expectations for further US rate hikes receded following the US employment report released at the end of the previous week.
The Nikkei Stock Average rose sharply from the previous day's close in morning trading on the Tokyo Stock Exchange on the 5th, briefly recovering the ¥70,000 range. It reached a level not seen since 1 July, with improving investor sentiment lifting the broader market.
The increase in nonfarm payrolls in the US employment report for September fell short of market expectations, causing expectations for further US rate hikes to recede and providing a tailwind for the equity market. Developments in the oil market also supported demand for risk assets.
AI and semiconductor-related stocks, which have a significant impact on the Nikkei Average, attracted buying, with Advantest and Tokyo Electron among those posting notable gains. This highlighted the overall resilience of the market.