The Nikkei 225 recovered into positive territory in the afternoon session after moving around the morning closing level. Oil-related and information and communications stocks supported the market as investors assessed developments in the US market.
In afternoon trading, the Nikkei 225 stood at 66,445.13, up ¥45.29 from the previous day, and appears to have recovered its morning low and moved into positive territory. During the morning session, oil-related and information and communications stocks supported the index against a backdrop of higher crude oil prices.
Meanwhile, the yen surged to the ¥152-per-dollar level, at times putting selling pressure on export-related stocks. Currency movements are expected to affect the performance of companies’ share prices.
With the reopening of the US market approaching, market participants believe that a stance of refraining from active trading may spread amid a lack of clear market cues.