The Nikkei Stock Average rebounded in Tokyo trading on the 10th and closed in positive territory late in the session. Although declines were pronounced in the morning, buying catalysts for semiconductor-related stocks emerged in the afternoon, narrowing the decline and broadening the market's recovery.
In Tokyo stock market trading on the 10th, the Nikkei Stock Average closed at ¥65,270.95, up ¥128.17 from the previous day, while the TOPIX rose 7.94 points to 4,054.58. Selling led the market in the morning on declines in U.S. stocks and rising crude oil prices, and the Nikkei briefly fell below ¥65,000.
In the latter part of the morning session, rising crude oil prices and higher U.S. long-term interest rates weighed on the market, and share prices remained weak. In the afternoon, semiconductor-related stocks attracted buying even as major U.S. stock indexes fell, with stocks such as Advantest bought and the decline narrowing.
Selling then ran its course in the afternoon, prompting buying back across a broad range of stocks, and the Nikkei closed in positive territory. The impact of higher crude oil prices remained a focus throughout the day, while escalating tensions in the Middle East kept investors wary that energy prices could remain elevated.