The Nikkei Average turned higher after the open and was trading about ¥105 above the previous day's close. Intraday moves following developments in the US market weighed on the market at times, while some market participants are also looking to assess how trading develops in the afternoon session.
In this morning's Tokyo market, the Nikkei Stock Average initially weakened after the open but turned higher as the US stock market outlook improved. Expectations that investors would wait to assess the Jackson Hole meeting, where speeches are scheduled, as well as movements in crude oil prices and long-term interest rates, were also factors discouraging aggressive buying.
While movements in US long-term interest rates and crude oil prices weighed on the market at times, the previous day's gains in US stocks supported the Japanese market. In particular, movements in technology and semiconductor-related stocks supported the Nikkei Average.
The Nikkei Average was at times supported by its 25-day moving average, and some market participants believe that, given the current level, the scope for a short-term decline is limited. The index turned higher again after the open, and attention is focused on how its gains develop.
The article does not mention any specific stocks or trading volume, and its numerical information is limited to figures stated in the article.