Buying led the Tokyo market against a backdrop of higher US stocks and earnings expectations, with the Nikkei 225 opening ¥757 higher. Gains widened after the open, with support from AI-related and semiconductor stocks in focus.
Buying led the Tokyo market today against a backdrop of higher US stocks, and the Nikkei 225 opened sharply higher. Gains in the Nasdaq Composite supported the market and improved investor sentiment.
AI-related and semiconductor stocks drew considerable attention, helping drive the Nikkei's advance. With first-half earnings announcements by companies with March year-ends gathering pace, expectations also spread that interest in stocks reporting strong earnings and performance would increase.
Meanwhile, uncertainty over the outlook for the Middle East, elevated crude oil futures and firm US long-term interest rates weighed on investor sentiment. Buying remained dominant after the open.
The market maintained its opening gains, and the Nikkei 225 continued to widen its advance thereafter.