The Nikkei average maintained its sharp gain over the morning session in the afternoon session on the 16th, rising to the low ¥65,650s in the afternoon. Strength in semiconductor and entertainment stocks supported the market.
The Nikkei average maintained its sharp morning-session gains into the afternoon, trading approximately ¥1,250 above the previous day's close shortly after 2 p.m. It briefly reached ¥65,712 during the day, reclaiming the morning high. The Tokyo Stock Price Index (TOPIX) also showed signs of recovery, with approximately 1,300 issues, or about 80% of Prime Market listings, rising.
The market had declined through the previous day, led by semiconductor stocks, but buying to cover positions took the lead in the morning. AI and semiconductor stocks supported the Nikkei average's rise. Despite the yen moving slightly higher against the dollar as a cost-plus trend, there was no marked loss of momentum among export stocks.
By sector, 32 of the 33 sectors rose, excluding electric power and gas. Other products, electrical equipment and machinery rose more than 2%, while entertainment stocks were notably strong in addition to semiconductor stocks. Among individual issues, Konami Group, Bandai Namco Holdings, Nintendo and Sanrio rose relatively strongly.
In trading activity as of 2 p.m., NTT, Tokio Marine, Kioxia, SoftBank and SoftBank Group were among the top gainers.