The Nikkei average rose sharply by 710.84 points from the previous day at the opening of the afternoon session on the Tokyo stock market. Semiconductor-related and AI-related stocks supported the market.
The Nikkei average opened the afternoon session at 66,842.82, up 710.84 points from the previous day. Some semiconductor-related stocks continued to attract buying after the morning session, while software-related stocks also remained firm.
The morning session closed at 66,682.88, up 550.90 points from the previous day. Gains in AI-related stocks and buying of lagging stocks supported the stock index.
At 10:11 a.m., the Nikkei average was temporarily up more than 400 points, as some AI-related stocks attracted buying and pushed the index higher. Meanwhile, crude oil futures remained elevated, and some market participants pointed to rising long-term interest rates as a factor that could cap further gains.
The Nikkei average opened 27.49 points lower than the previous day, but subsequently recovered and turned slightly higher. Buying and selling were mixed amid uncertainty over market catalysts.