The Nikkei Average was firm around mid-morning in Tokyo, extending its gains on buying in AI-related and semiconductor stocks. SoftBank Group rose sharply, with moves in constituent stocks driving the market.
The Nikkei Average was firm around mid-morning in the Tokyo stock market, trading in the ¥60,300 range, up about ¥1,500 from the previous day. Buying centered on AI-related and semiconductor-related stocks continued, pushing up the Nikkei Average.
Among individual stocks, SoftBank Group was up more than 10%, and some market participants said it was contributing about ¥300 to the Nikkei Average's rise. At the upper end of the day's range, however, some investors were also inclined to sell while waiting for a rebound.
Trading value on the TSE Prime market as of 10 a.m. was approximately ¥261.78 billion, while trading volume was approximately 825.54 million shares. The response of AI-related stocks was the main factor pushing up the Nikkei Average.
Among the day's gainers, Fanuc, Shin-Etsu Chemical and TDK were higher, while Kikkoman, Orix and Toyota were lower.