The Nikkei Average turned slightly higher during the morning session, ending at ¥65,598.68. US markets were mixed the previous day. Lower US long-term interest rates and falling oil prices supported sentiment, while semiconductor stocks remained weak, and the market is expected to remain range-bound in the afternoon session. Attention is focused on US corporate earnings and remarks by the Federal Reserve as risk events. As the market moved around the morning close, buybacks spread and the index recovered into positive territory. Moves in major market-impact stocks influenced the overall market.
The Nikkei Average ended the morning session up ¥70.59 at ¥65,598.68. Estimated trading volume was 900.97 million shares. Among individual stocks, Fujikura, Ibiden, SoftBank Group, Fast Retailing and KDDI rose, while Advantest, TDK, Disco, FANUC, Honda and Toyota fell.
US markets were mixed the previous day. The Dow Average rose, while the Nasdaq fell. Falling oil prices and lower US long-term interest rates supported the market, while semiconductor-related stocks remained weak. The Nasdaq remained cautious ahead of NVIDIA's earnings.
During the day's trading, the Nikkei Average on the 25th opened 332.83 yen below the previous day's level, with selling prevailing initially before the decline narrowed. Buying back spread toward the morning close, and the index moved into positive territory late in the session. With the 75-day moving average viewed as resistance on the upside, some market participants believe near-term upside is limited.
In the afternoon, the market is expected to remain range-bound around the morning session's level, with surprise US earnings and remarks at the Jackson Hole Economic Symposium expected to be the market's focus. A mood is spreading among investors that they want to assess this week's major events.