The Nikkei average rebounded in the afternoon session, ending ¥273 higher than the previous day. With the Jackson Hole meeting ahead and Fed Chair Warsh’s speech approaching, active buying was limited.
In Tokyo trading today, the Nikkei Stock Average ended the afternoon session at ¥66,405.56, up ¥273.58 from the previous day, while TOPIX rose for a seventh consecutive day to 4,146.71 points. Selling prevailed at the open amid continued resistance at higher levels, but the market turned higher as dip-buying gained momentum.
At 12:30 p.m., the Nikkei average reached the day’s high of ¥66,842.82, up ¥710.84. After buying momentum subsided, the market remained capped amid the approach of the Jackson Hole meeting.
Trading volume on the TSE Prime Market was 2,177,950,000 shares, with trading value at ¥8.1223 trillion. There were 873 advancers, 631 decliners and 49 unchanged issues. By sector, 18 of the 33 sectors rose and 15 fell.
Advancers included Dentsu Group, Recruit Holdings, Asics, Nintendo and NYK Line. Non-ferrous metal and glass and ceramics shares stood out among decliners, while some machinery shares also fell.