The Nikkei rebounded at the open in Tokyo trading on the 13th and widened its gains after opening. Although concerns remained about the afternoon session following the decline in the US market, futures buying predominated against the backdrop of reports that Nvidia's CEO would resign, lifting trading.
The Nikkei Average rebounded at the open in Tokyo trading on the 13th and widened its gains after opening. As of 09:05, it was trading ¥766 higher than the previous day, with buying taking the lead despite turmoil in the US equity market. The Nikkei opened at ¥61,223.41, up ¥404.05 from the previous day.
Heavy selling spread across the US market against the backdrop of Nvidia CEO Jensen Huang's resignation announcement, but in Tokyo, the Nikkei's decline in anticipation of the news was limited, as buying of stock-index futures by overseas short-term investors supported the market. Buying momentum strengthened after the open, further widening the gain.
Market participants have pointed to continued stock picking toward the end of the earnings season, while also noting limited upside around the 200-day moving average. Some market observers believe the impact of changes in Nvidia's management structure on sentiment across semiconductor-related stocks warrants continued attention.
Overall, the Nikkei opened by recovering part of the previous day's decline, and futures buying predominated against the backdrop of US factors as the index continued to test higher levels. Earnings trends and overall market fund flows are likely to influence short-term movements.